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Namaste Receives Approval to Trade on OTCQB $N.ca

Posted by AGORACOM-JC at 8:49 AM on Wednesday, March 1st, 2017

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  • Approved by OTC Markets Group Inc. to trade on the OTCQB Venture Market in the US. Canaccord Genuity Inc., as a market maker, has also received approval from FINRA to begin quoting the Company’s common shares on the OTCQB

VANCOUVER, BRITISH COLUMBIA–(March 1, 2017) - Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(CSE:N.CN)(OTCQB:NXTTF)(FRANKFURT:M5BQ) is pleased to announce that further to its announcement on February 13, 2017, the Company has been approved by OTC Markets Group Inc. (“OTC Markets”) to trade on the OTCQB Venture Market (“OTCQB”) in the US. Canaccord Genuity Inc., as a market maker, has also received approval from FINRA to begin quoting the Company’s common shares on the OTCQB.

The OTCQB, operated by OTC Markets, offers transparent US trading for early-stage and developing US and international companies. To be eligible, companies must be current in their reporting, undergo an annual verification and management certification process, and meet a $0.01 bid test.

Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to be approved by the OTC Markets and start our US investor awareness program in earnest. In the last year, we have developed significant US commercial operations and view being able to trade on the OTCQB as an important aspect of developing a following with US investors.”

About Namaste Technologies Inc.

Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market, and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.

On behalf of the Board of Directors

Sean Dollinger, Chief Executive Officer

Further information on the company and its products can be accessed through the link below:

www.namastetechnologies.com

www.namastevaporizers.com

www.namastevaporizers.co.uk

www.vaporseller.com

www.everyonedoesit.com

www.everyonedoesit.co.uk

FORWARD LOOKING INFORMATION

This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions. Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.

Namaste Technologies Inc.
Sean Dollinger
Chief Executive Officer
+ 1 (786) 389-9771
info@namastevapes.com
www.namastetechnologies.com

 

 

Namaste Announces Increase in Bought Deal to $7.5M $N.ca

Posted by AGORACOM-JC at 10:31 AM on Friday, February 24th, 2017

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  • Entered into a amended letter of engagement with Eight Capital and Canaccord Genuity Corp. as co-lead underwriters and joint bookrunners, and including Beacon Securities Limited under which the Underwriters have now agreed to purchase 30,000,000 units of the Company on a “bought deal” private placement basis, subject to all required regulatory approvals, at a price per Unit of $0.25 (the “Offering Price”), for total gross proceeds of $7,500,000

VANCOUVER, BRITISH COLUMBIA–(Feb. 24, 2017) – NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has entered into a amended letter of engagement with Eight Capital and Canaccord Genuity Corp. as co-lead underwriters and joint bookrunners, and including Beacon Securities Limited (together, the “Underwriters”), under which the Underwriters have now agreed to purchase 30,000,000 units of the Company (the “Units”), on a “bought deal” private placement basis, subject to all required regulatory approvals, at a price per Unit of $0.25 (the “Offering Price”), for total gross proceeds of $7,500,000 (the “Offering”). Each Unit shall consist of one common share of the Company (a “Share”) and one-half of one common share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one Share at a price of $0.35 for a period of 24 months following the Closing Date.

In the event that the closing sale price of the Company’s Shares on the Canadian Securities Exchange is greater than $0.70 per Share for a period of 10 consecutive trading days at any time after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.

The Company has granted the Underwriters an over-allotment option to purchase up to an additional 4,500,000 Units at the Offering at the Offering Price, exercisable in whole or in part, at any time on or prior to 48 hours prior to the closing of the Offering. If this option is exercised in full, an additional $1,125,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be $8,625,000.

The Company intends to use the net proceeds of the Offering will be used for the acquisition of Australian Vaporizers PTY Limited and for working capital and general corporate purposes.

The closing date of the Offering is scheduled to be on or about March 9, 2017 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

Management Commentary 

Mr. Sean Dollinger, President and CEO of Namaste, comments: “The acquisition of Australian Vaporizers completes the geographical profile of Namaste and puts us in a very strong position in all four corners of the globe. This acquisition also further builds the critical mass of Namaste, instantly moves us into profitability and expands our database of high value customers. We look forward to further advancing our relationship with Australian Vaporizers and completing the proposed transaction.”

About Namaste Technologies Inc.

Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 ecommerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.

On behalf of the Board of Directors

Sean Dollinger

Chief Executive Officer

Further information on the Company and its products can be accessed through the links below:

www.namastetechnologies.com

www.namastevaporizers.com

www.namastevaporizers.co.uk

www.vaporseller.com

www.everyonedoesit.com

www.everyonedoesit.co.uk

FORWARD-LOOKING INFORMATION This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, Namaste assumes no responsibility to update or revise forward looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.

Namaste Technologies Inc.
Sean Dollinger
Chief Executive Officer
+1 (786) 389 9771
info@namastevapes.com
www.namastetechnologies.com

Namaste to Acquire Australian Vaporizers and Announces $6.0 Million Bought Deal Financing $N.ca

Posted by AGORACOM-JC at 9:03 AM on Friday, February 24th, 2017

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  • Entered into a definitive agreement with Australian Vaporizers PTY Limited to acquire all of the issued and outstanding shares of Australian Vaporizers in exchange for a combination of cash, common shares and an earn-out payment
  • Company’s website www.australianvaporizers.com.au has approximately 80% of the market share
  • For the period ended June 30, 2016, the company produced approximately $4.5 million of revenue and $1.1 million of EBITDA

VANCOUVER, BRITISH COLUMBIA–(Feb. 24, 2017) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to report that it has entered into a definitive agreement (the “Agreement”) with Australian Vaporizers PTY Limited (“Australian Vaporizers”) to acquire all of the issued and outstanding shares of Australian Vaporizers in exchange for a combination of cash, common shares and an earn-out payment. Upon the completion of the transaction, Namaste further solidifies its position as the leading e-commerce company in the vaporizers and accessories space with significant market positions in the North America, Europe, South America and now Asia Pacific.

Australian Vaporizers was founded in 2010 and has grown to become the largest online retailer of vaporizers in Australia. The company’s website www.australianvaporizers.com.au has approximately 80% of the market share. The company’s customer database has over 48,000 individuals that have made upwards of 77,000 orders during the lifespan of the company. For the period ended June 30, 2016, the company produced approximately $4.5 million of revenue and $1.1 million of EBITDA. Gross margins for the period were over 45%. The financial results for the period have been audited by Grant Thornton Australia Ltd.

Strategic rationale for the transaction as follows:

  • Positions Namaste as the leading vaporizer and accessories company in Australia, a country with a population of 24.3 million people;
  • Expands customer database to well-over 300,000 individuals globally. This further positions the Company with one of the largest databases of cannabis consumers globally and spans all major markets. Namaste will enter commercial arrangements to further monetize these customers;
  • Positions the Company with over $18.0 million of run rate revenue and moves the Company into profitability. The higher margins of Australian Vaporizers are beneficial to the margins of the combined entity;
  • Provides full Australian distribution center and additional technical staff; and
  • Attractive valuation at approximately 1x sales and 5x EBITDA.

Transaction terms and conditions are as follows:

  • Purchase price of 1.0x 12-month trailing sales of $5.0 million, plus the value of inventory acquired within six (6) months preceding the closing, and 50% of the value of the inventory acquired prior to six (6) months preceding the closing, less all liabilities and plus trade debt and cash. The total purchase price is estimated to be approximately $5.5 million;
  • Consideration of 75% cash on closing, 10% in common shares based on the 20-day volume weighted average price upon signing of definitive agreement and 15% earn-out based on sales and integration milestones; and
  • Receipt of all director and requisite regulatory approvals relating to the transaction, including without limitation, CSE approval, if required.

Bought Deal Financing 

The Company is also pleased to announce that it has entered into a letter of engagement with Eight Capital and Canaccord Genuity Corp. as co-lead underwriters and joint bookrunners, and including Beacon Securities Limited. (together, the “Underwriters”), under which the Underwriters have agreed to purchase 24,000,000 units of the Company (the “Units”), on a “bought deal” private placement basis, subject to all required regulatory approvals, at a price per Unit of $0.25 (the “Offering Price”), for total gross proceeds of $6,000,000 (the “Offering”). Each Unit shall consist of one common share of the Company (a “Share”) and one-half of one common share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one Share at a price of $0.35 for a period of 24 months following the Closing Date.

In the event that the closing sale price of the Company’s Shares on the Canadian Securities Exchange is greater than $0.70 per Share for a period of 10 consecutive trading days at any time after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.

The Company has granted the Underwriters an over-allotment option to purchase up to an additional 3,600,000 Units at the Offering at the Offering Price, exercisable in whole or in part, at any time on or prior to 48 hours prior to the closing of the Offering. If this option is exercised in full, an additional $900,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be up to approximately $6,900,000.

The Company intends to use the net proceeds of the Offering will be used for the acquisition of Australian Vaporizers PTY Limited and for working capital and general corporate purposes.

The closing date of the Offering is scheduled to be on or about March 9, 2017 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

Management Commentary  

Mr. Sean Dollinger, President and CEO of Namaste, comments: “The acquisition of Australian Vaporizers completes the geographical profile of Namaste and puts us in a very strong position in all four corners of the globe. This acquisition also further builds the critical mass of Namaste, instantly moves us into profitability and expands our database of high value customers. We look forward to further advancing our relationship with Australian Vaporizers and completing the proposed transaction.”

About Namaste Technologies Inc. 

Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 ecommerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.

On behalf of the Board of Directors

Sean Dollinger

Chief Executive Officer

Further information on the Company and its products can be accessed through the links below:

www.namastetechnologies.com

www.namastevaporizers.com

www.namastevaporizers.co.uk

www.vaporseller.com

www.everyonedoesit.com

www.everyonedoesit.co.uk

FORWARD-LOOKING INFORMATION This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, Namaste assumes no responsibility to update or revise forward looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.

Namaste Technologies Inc.
Sean Dollinger
Chief Executive Officer
+1 (786) 389 9771
info@namastevapes.com
www.namastetechnologies.com

Namaste Announces Signing of MOU With Marijuana.Ca $N.ca

Posted by AGORACOM-JC at 8:53 AM on Thursday, February 23rd, 2017

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  • Entered a MOU with Marijuana.Ca, operator of www.marijuana.ca
  • Signing of this MOU represents the further achievement of the Company’s objective to increase site traffic and develop customer data in the Canadian market, a key growth market for the consumption of legal medical cannabis
  • MOU also coincides with the upcoming launch of www.everyonedoesit.ca, which the Company will use to further expand its position in the Canadian market

VANCOUVER, BRITISH COLUMBIA–(Feb. 23, 2017) - Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has entered a memorandum of understanding (“MOU”) with Marijuana.Ca, operator of www.marijuana.ca, a leading educational website that focuses on providing information to legal marijuana consumers about consumption methods, strains, licensed producers, regulations, and the legalization process in Canada. The signing of this MOU represents the further achievement of the Company’s objective to increase site traffic and develop customer data in the Canadian market, a key growth market for the consumption of legal medical cannabis. This MOU also coincides with the upcoming launch of www.everyonedoesit.ca, which the Company will use to further expand its position in the Canadian market.

Pursuant to the terms of the MOU, Namaste will receive site traffic and general customer information from www.marijuana.ca, in exchange for SEO optimization, content creation, and referral fees on the sale of vaporizers, accessories and growing equipment. Namaste will be the exclusive provider of these products to Marijuana.Ca viewers and members. The terms of the MOU will be further expanded upon in a form of binding commercial agreement.

Management Commentary

Sean Dollinger, President and CEO of Namaste, comments: “The signing of this MOU with Marijuana.Ca further exemplifies our strategic focus on enhancing site traffic and becoming one of the leading aggregators of customer information in the vaporizer and cannabis industries. Going forward, we view our unique position within the market will allow us to continue expanding this strategy in Canada and abroad.”

About Marijuana.Ca

Marijuana.Ca is a media company and product platform that focuses on the marijuana space in Canada. Marijuana.Ca is deeply and firmly rooted in educating the public about the importance of marijuana as a medicine and patient access within the Health Canada ACMPR program in Canada. As well, Joshua Melamed, the founder and owner, and the Marijuana.Ca team, strongly support responsible adult recreational use within a legal framework. The website can be accessed at www.Marijuana.ca.

About Namaste Technologies Inc.

Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.

On behalf of the Board of Directors

Sean Dollinger

Chief Executive Officer

Further information on the company and its products can be accessed through the link below:

www.NamasteTechnologies.com

www.NamasteVaporizers.com

www.NamasteVaporizers.co.uk

www.VaporSeller.com

www.EveryoneDoesIt.com

www.EveryoneDoesIt.co.uk

FORWARD-LOOKING INFORMATION

This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions. Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.

Namaste Technologies Inc.
Sean Dollinger
Chief Executive Officer
+ 1 (786) 389-9771
info@namastevapes.com
www.namastetechnologies.com

Namaste Announces Signing of MOU With Canopy Growth Corporation $N.ca

Posted by AGORACOM-JC at 9:37 AM on Tuesday, February 21st, 2017

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  • MOU with Canopy Growth Corporation  (TSX:WEED), a world-leading diversified cannabis company, offering diverse brands and curated cannabis strain varieties in dried and oil extract forms
  • MOU represents the execution of Namaste’s strategic objective to actively migrate medical cannabis consumers to a licensed producer
  • Purpose of the MOU is to define the intention of Namaste and Canopy to expand their respective market positions by seeking to form multi-point working arrangements and exploring the development of new delivery devices for the consumption of cannabis

VANCOUVER, BRITISH COLUMBIA–(Feb. 21, 2017) - Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has entered a memorandum of understanding (“MOU”) with Canopy Growth Corporation (“Canopy”) (TSX:WEED), a world-leading diversified cannabis company, offering diverse brands and curated cannabis strain varieties in dried and oil extract forms. This MOU represents the execution of Namaste’s strategic objective to actively migrate medical cannabis consumers to a licensed producer. Namaste’s database consists of approximately 300,000 customers that generate upwards of 600,000 site visits monthly. Approximately 28,000 of these monthly site visits are generated from customers residing in Canada.

The purpose of the MOU is to define the intention of Namaste and Canopy to expand their respective market positions by seeking to form multi-point working arrangements and exploring the development of new delivery devices for the consumption of cannabis. Pursuant to the terms of the MOU, Namaste and Canopy will work together to educate Namaste’s Canada-based clients on the legal, regulated framework for medical cannabis. Namaste will also support Canopy on the development of Canopy branded vaporizers and accessories.

The commercial aspects of this partnership will be further expanded through a multi-function working group of Namaste and Canopy.

Management Commentary

Sean Dollinger, President and CEO of Namaste, comments: “Our company has successfully built one of the largest and most global client relationship databases in the cannabis industry and we view broadening our strategic alliances to the benefit of our customers and shareholders. Consistent with our strategy to partner with leading companies that hold themselves to the highest standards, Canopy represents the ideal partner for us to roll-out this strategy alongside. Going forward, we see multiple opportunities to expand this strategy globally.”

About Canopy Growth Corporation

Canopy Growth is a world-leading diversified cannabis company, offering diverse brands and curated cannabis strain varieties in dried and oil extract forms. Through its wholly-owned subsidiaries, Canopy Growth operates multiple state-of the-art production facilities with over half a million square feet of indoor and greenhouse production capacity. Canopy Growth has established partnerships with leading sector names in Canada and abroad.

About Namaste Technologies Inc.

Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.

On behalf of the Board of Directors

Sean Dollinger, Chief Executive Officer

Further information on the company and its products can be accessed through the link below:

www.namastetechnologies.com

www.namastevaporizers.com

www.namastevaporizers.co.uk

www.vaporseller.com

www.everyonedoesit.com

www.everyonedoesit.co.uk

FORWARD LOOKING INFORMATION

This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.

Namaste Technologies Inc.
Sean Dollinger
Chief Executive Officer
+ 1 (786) 389-9771
info@namastevapes.com
www.namastetechnologies.com

 

 

Namaste Applies to Trade on OTCQB $N.ca

Posted by AGORACOM-JC at 10:48 AM on Monday, February 13th, 2017

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  • Applied for approval from OTC Markets Group to trade the Company’s common shares on the OTCQB Venture Market
  • Company will provide further updates to investors relating to the trading of its common shares on OTCQB in due course

VANCOUVER, BRITISH COLUMBIA–(Feb. 13, 2017) - Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N) (FRANKFURT:M5BQ) is pleased to announce that it has applied for approval from OTC Markets Group to trade the Company’s common shares on the OTCQB Venture Market. Approval from OTC Markets Group is subject to the approval of Form 211 by FINRA, which has been filed by Canaccord Genuity Inc. as a market maker in the common shares, and is currently pending approval. The Company will provide further updates to investors relating to the trading of its common shares on OTCQB in due course.

Sean Dollinger, President and CEO of Namaste, comments: “Namaste has developed a significant US presence over the last year and believes trading our shares on the OTCBQ is a natural way to broaden awareness of our company with US investors. We look forward to completing this process and generating awareness of our company in the US markets.”

About OTC Markets Group Inc.

OTC Markets Group Inc. operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 US and global securities. Through OTC Link® ATS, the company connects a diverse network of broker-dealers that provide liquidity and execution services. The company enables investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors. OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.

About Namaste Technologies Inc.

Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.

On behalf of the Board of Directors

Sean Dollinger, Chief Executive Officer

Further information on the company and its products can be accessed through the links below:

www.namastetechnologies.com

www.namastevaporizers.com

www.namastevaporizers.co.uk

www.vaporseller.com

www.everyonedoesit.com

www.everyonedoesit.co.uk

FORWARD LOOKING INFORMATION

This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions. Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.

Namaste Technologies Inc.
Sean Dollinger
Chief Executive Officer
+ 1 (786) 389-9771
info@namastevapes.com
www.namastetechnologies.com

Namaste Has Been Approved to Retail Marley Natural Brand Accessories $N.ca

Posted by AGORACOM-JC at 8:27 AM on Thursday, February 2nd, 2017

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  • Approved by Little Bay, Inc.  accessories product line in the United States
  • Marley Natural is the official cannabis brand of Bob Marley, one of the most iconic names in the cannabis industry

VANCOUVER, BRITISH COLUMBIA–(Feb. 2, 2017) - Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has been approved by Little Bay, Inc. (“Little Bay”) (a subsidiary of Privateer Holdings Inc.) as a retailer of the Marley Natural™ (“Marley Natural”) accessories product line in the United States. Marley Natural is the official cannabis brand of Bob Marley, one of the most iconic names in the cannabis industry. The brand is deeply rooted in the ideas and legacy of Bob Marley and celebrates nature, justice and the positive potential of the herb. The terms of resale will be governed by a retail agreement between Namaste and Little Bay.

The collection is made from American Black Walnut and accented by heat resistant hand-blown glass that ensures durability, convenient maintenance, and a comfortable hand-held feel. Namaste’s in-house merchandising team has identified the Marley Natural brand as an ideal collection for specific growth markets. Namaste will market the Marley Natural products to its customer list of over 250,000 individuals and through its e-commerce brands including Namaste Vapes, Everyonedoesit and VaporSeller.

Management Commentary

Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to carry the Marley Natural brand, the official cannabis brand of Bob Marley. We also pleased to have entered our first commercial arrangement with one of the Privateer Holdings companies, a leader in the cannabis industry, and look forward to further developing a relationship as both our companies expand.”

About Marley Natural

Marley Natural™ is dedicated to creating uniquely designed accessories and offers an elevated line of smoking products for discerning herb connoisseurs. Balancing intuitive form, with subtle Jamaican-inspired accents, the line caters to a personalized and very sensory approach to the classic ritual of smoking. Marley Natural accessories may only be used with legal smoking herbs and may not be used with tobacco products.

About Namaste Technologies Inc.

Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.

On behalf of the Board of Directors

Sean Dollinger, Chief Executive Officer

Further information on the company and its products can be accessed through the links below:

www.namastetechnologies.com

www.namastevaporizers.com

www.namastevaporizers.co.uk

www.vaporseller.com

www.everyonedoesit.com

www.everyonedoesit.co.uk

FORWARD LOOKING INFORMATION

This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions. Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.

Namaste Technologies Inc.
Sean Dollinger
Chief Executive Officer
+1 (786) 389 9771
info@namastevapes.com
www.namastetechnologies.com

Namaste Announces Commencement of Distribution Through eBay $N.ca

Posted by AGORACOM-JC at 8:37 AM on Wednesday, February 1st, 2017

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  • Commenced distribution through eBay Inc., a global commerce leader that connects millions of buyers and sellers around the world. eBay has formally approved Namaste’s marketing templates and products have been listed for sale.
  • Namaste will list its products under the recently launched vaporizers and e-cigarettes category

VANCOUVER, BRITISH COLUMBIA–(Feb. 1, 2017) - Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N) (CSE:N.CN) (FRANKFURT:M5BQ) is pleased to announce that it has commenced distribution through eBay Inc. (“eBay”), a global commerce leader that connects millions of buyers and sellers around the world. eBay has formally approved Namaste’s marketing templates and products have been listed for sale. As one of a select number of companies in the vaporizers and accessories industry to be permitted to distribute through eBay’s marketplace, Namaste will list its products under the recently launched vaporizers and e-cigarettes category.

Namaste will be required to keep sufficient product inventory on hand in the anticipation of increased demand through eBay’s marketplace and ensure adherence to all applicable category policies. Namaste is currently carrying over $1.5 million of inventory to meet demand from its growing customer base.

Management Commentary

Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to be one of a select number of vape companies to start distribution through eBay, one of the largest online marketplaces in the world. Going forward, we will continue to add additional items to this marketplace and see this platform an excellent means to expand the Namaste brand.”

About eBay Inc.

eBay Inc. is a global commerce leader that includes Marketplace, StubHub and Classifieds platforms. Collectively, the platforms connect millions of buyers and sellers around the world. The technologies and services that power these platforms are designed to enable sellers worldwide to organize and offer their inventory for sale and buyers to find and buy it virtually anytime and anywhere. The Marketplace platforms include the online marketplace located at www.ebay.com, its localized counterparts and the eBay mobile apps; which are among the world’s largest and most vibrant marketplaces for discovering great value and unique selection.

About Namaste Technologies Inc.

Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.

On behalf of the Board of Directors

Sean Dollinger, Chief Executive Officer

Further information on the company and its products can be accessed through the link below:

www.namastetechnologies.com

www.namastevaporizers.com

www.namastevaporizers.co.uk

www.vaporseller.com

www.everyonedoesit.com

www.everyonedoesit.co.uk

FORWARD LOOKING INFORMATION

This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions. Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.

Namaste Technologies Inc.
Sean Dollinger
Chief Executive Officer
+1 (786) 389 9771
info@namastevapes.com
www.namastetechnologies.com

Namaste Announces Record Quarterly Revenue of over $2M for Q1 2017 $N.ca

Posted by AGORACOM-JC at 9:51 AM on Monday, January 30th, 2017

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  • Recorded record quarterly revenue of $2,087,188, an increase of 77.6% from the first quarter of 2016;
  • Generated gross profit of $683,016, an increase of 75.9% from the first quarter of 2016;
  • Expanded the customer list to over 250,000 individuals producing monthly traffic of approximately 600,000 site visits in November

VANCOUVER, BRITISH COLUMBIA–(Jan. 30, 2017) - Namaste Technologies Inc. (“Namaste” or the “Company“) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce the filing of its unaudited quarterly financial statements, management’s discussion and analysis, and certification of the quarterly filings for the first quarter of fiscal 2017. The statements for the period can be accessed on SEDAR at www.sedar.com.

The operational and financial highlights for the period include the following:

  • Recorded record quarterly revenue of $2,087,188, an increase of 77.6% from the first quarter of 2016;
  • Generated gross profit of $683,016, an increase of 75.9% from the first quarter of 2016;
  • Expanded the customer list to over 250,000 individuals producing monthly traffic of approximately 600,000 site visits in November;
  • Closed the acquisition of the assets of URT1 Limited, which comprised its Everyonedoesit business (“Everyonedoesit”) and raised approximately $3.5 million of capital; and
  • Appointed experienced members to the management team and board.

Financial Results

During the financial reporting period from September 1, 2016 to November 30, 2016, the Company focused efforts on further expanding its traffic and customer base, growing revenues, integrating the asset acquisitions of VaporSeller and Everyonedoesit, and securing capital to expand operations. Because of these focused initiatives, the Company achieved the following financial results:

  • Net revenue of $2,087,188 (Q1 2016 – $1,175,341), an increase of 77.6% as compared to the first quarter of 2016. These financial results include net revenues for a 44-day period from the Everyonedoesit asset acquisition, which produced revenue of $316,460. On a gross basis (prior to adjustments for refunds, discounts and charge backs), the revenues for the period were $2,460,738, an increase of $373,550 to net revenues. These adjustments are anticipated to normalize as the Company has now integrated the acquisition of VaporSeller and URT1, which is anticipated to result in a higher net revenue going forward.
  • Cost of sales of $1,404,172 (Q1 2016 – $787,008), which resulted in a gross profit of $683,016 (Q1 2016 – $388,333). As a percentage of sales, the gross margin was 32.7% compared to 33.0% in the first quarter of 2016. Going forward, the Company is optimizing its product mix to include higher margin glassware, private label products such as the Gurutm and related product accessories, products sourced from larger volume manufacturers, and driving higher average purchase prices from the VaporSeller and URT1 acquisitions.
  • Operating costs of $1,580,087 (Q1 2016 – $513,977), an increase of 207.4% as compared to the first quarter of 2016. This increase in operating costs includes non-cash and currency expenses of $71,416. These costs relate to share based compensation and foreign exchange movements in the Company’s source currencies including the British Pound and Euro. In addition, were non-recurring legal expenses of $175,000 related to the URT1 acquisition and financing. After adjusting for these numbers, management estimates total operating costs of $1,333,671 for the period. In addition to these expenditures, the Company has also incurred costs associated with positioning the business for scalability and the administration of its public listing.
  • Comprehensive loss of $(897,072) (Q1 2016 – $(125,644)). Going forward, management anticipates sales growth to strengthen from organic revenue generation and completed acquisitions, cost of sales to reduce due to higher volume purchases and optimization of the product portfolio, and operating costs to reduce as a result of normalized operations, which management anticipates to result in profitability and positive cash flow generation in fiscal 2017.

Management Commentary

Sean Dollinger, President and CEO of Namaste, comments: “The first quarter of 2017 represents substantial financial progress. In the first quarter, our team obtained these results while integrating multiple acquisitions and fulfilling orders during some of our most active months. Going forward, we continue to streamline operations, including optimizing our websites, human resources, and distribution networks, and believe our financial results will continue to reflect the value we have created for shareholders.”

About Namaste Technologies Inc.

Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 ecommerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.

On behalf of the Board of Directors

Sean Dollinger, Chief Executive Officer

Direct: +1 (786) 389 9771

Email: info@namastevapes.com

Further information on the Company and its products can be accessed through the links below:

www.namastetechnologies.com

www.namastevaporizers.com

www.namastevaporizers.co.uk

www.vaporseller.com

www.everyonedoesit.com

www.everyonedoesit.co.uk

FORWARD-LOOKING INFORMATION This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, Namaste assumes no responsibility to update or revise forward looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors 5 discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.

Namaste Technologies Inc.
Sean Dollinger
Chief Executive Officer
+1 (786) 389 9771
info@namastevapes.com
www.namastetechnologies.com

Namaste Purchases Earn-Out from VaporSeller $N.ca

Posted by AGORACOM-JC at 8:35 AM on Monday, January 16th, 2017

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  • Entered into a binding amending agreement with Haze Industries, Inc. for the purchase of the remaining earn-out obligation
  • Initial undiscounted value of the earn-out was approximately US$1.5 million. Namaste will settle the remaining earn-out obligation of approximately US$1.3 million by making an initial payment of US$285,000 and monthly payments of US$8,000 for 12-months.

VANCOUVER, BRITISH COLUMBIA–(Jan. 16, 2017) - Namaste Technologies Inc. (“Namaste”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has entered into a binding amending agreement (the “Amending Agreement”) with Haze Industries, Inc. (“Haze”) for the purchase of the remaining earn-out obligation as set forth in the definitive asset purchase agreement (the “Asset Purchase Agreement”) announced on June 7, 2016. The Asset Purchase Agreement memorialized the terms and conditions whereby Namaste purchased the assets comprising VaporSeller, an e-commerce platform for the distribution of vaporizers and accessories that is focused on the US market and generated an unaudited revenue of US$3.4 million in 2015. The initial undiscounted value of the earn-out was approximately US$1.5 million. Namaste will settle the remaining earn-out obligation of approximately US$1.3 million by making an initial payment of US$285,000 and monthly payments of US$8,000 for 12-months. Namaste will also issue Haze the initial tranche of 1,700,000 common shares of the Company pursuant to the Asset Purchase Agreement. The total number of shares to be issued is 5,000,000, as previously announced. All common shares issued will be subject to a 4-month statutory hold period.

Management Commentary

Sean Dollinger, President and CEO of Namaste, comments: “The purchase of this remaining earn-out obligation provides Namaste additional cash flow to reinvest into our operations. The VaporSeller customer list of over 150,000 individuals and domains represent a strong foothold for Namaste in the US market and we now control these assets without any future obligations. The principals of Haze will continue to work with Namaste as we assume full operational management of the site.”

About Namaste Technologies Inc.

Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.

On behalf of the Board of Directors

Sean Dollinger, Chief Executive Officer

Further information on the company and its products can be accessed through the links below:

http://www.namastetechnologies.com/ http://www.vaporseller.com/
http://www.namastevaporizers.com/ http://www.everyonedoesit.com/
http://www.namastevaporizers.co.uk/ http://www.everyonedoesit.co.uk/

FORWARD LOOKING INFORMATION

This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions. Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.

Namaste Technologies Inc.
Sean Dollinger
Chief Executive Officer
+1 (786) 389 9771
info@namastevapes.com
www.namastetechnologies.com