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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 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

Namaste expands its customer list to over 250,000 individuals producing monthly traffic of nearly 600,000 site visits $N.ca

Posted by AGORACOM-JC at 5:40 PM on Friday, January 6th, 2017

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  • Expanded its customer list to over 250,000 individuals producing monthly traffic of nearly 600,000 site visits;
  • Expanded its portfolio to over 3,000 products from over 200 vendors and delivered these products to retail customers in 75 countries;
  • Expanded commercial relationships with Pax Labs, Firefly, eBay, VaporTown USA, and Inhalator

 

VANCOUVER, BRITISH COLUMBIA–(Jan. 6, 2017) - Namaste Technologies Inc. (“Namaste” or the “Company“) (CSE:N) (CSE:N.CN) (FRANKFURT:M5BQ) announces the filing of its annual audited financial statements, management discussion and analysis, and certification of the annual filings for the year ended August 31, 2016 (collectively, the “2016 Financials“). The Company also provides investors an overview of corporate activities and outlines objectives for 2017. The statements for the period can be accessed on SEDAR at www.sedar.com.

Operational Highlights

During the financial reporting period and year-to-date, the Company focused efforts on expanding its customer base, completing a public listing on the Canadian Securities Exchange, securing growth capital, bringing the latest vaporizer and accessory products to the global market, accelerating organic sales generation from more costly pay-per-click advertising, completing strategic partnerships and acquisitions, and expanding the management team and board. As a result of these focused initiatives, the Company achieved the following:

  • Expanded its customer list to over 250,000 individuals producing monthly traffic of nearly 600,000 site visits;
  • Expanded its portfolio to over 3,000 products from over 200 vendors and delivered these products to retail customers in 75 countries;
  • Expanded commercial relationships with Pax Labs, Firefly, eBay, VaporTown USA, and Inhalator;
  • Acquired the VaporSeller and URT1 Limited (“URT1″) assets;
  • Raised approximately $5.7 million; and
  • Appointed experienced members to the management team and board.

Financial Results

During the period from September 1, 2015 to August 31, 2016, the Company’s inbound organic revenue generation strategy produced e-commerce revenue of $3,488,902 and gross profit of $1,220,474 (including all transportation and shipping costs), resulting in a 32% gross profit margin. These financial results include revenues for a 47-day period from the VaporSeller asset acquisition, which produced revenue of $394,901. On a proforma basis, including the acquisition of assets relating to URT1 Limited during Q1 of fiscal 2017, management estimates the combined assets of Namaste, VaporSeller and URT1 generated revenue of $12,423,486. 2016 financial results include the following:

  • Revenue of $3,488,902 (2015 – $4,568,276), a decline of 23.6% as compared to the year ended August 31, 2015. This decline in revenue is due to a change in business model, from pay-per-click advertising to growing organic traffic through search engine optimization. Due to this change in strategy, the annual spending on advertising during the period was substantially reduced to $203,423 from $466,379 in the prior period, a reduction of 56% in total expenditure. Going forward, the Company’s investment of resources into this strategy will result in more sustainable and recurring revenue generation at a lower customer acquisition cost compared to utilizing pay-per-click advertising.
  • Cost of sales of $2,368,428 (2015 – $2,565,251), which resulted in a gross profit of $1,120,474 (2015 – $2,003,025). As a percentage of sales, the gross margin was 32% compared to 44% in the previous year. This reflects the acquisition of VaporSeller which generates lower gross margin sales. 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 acquisition of VaporSeller and URT1.
  • Operating costs of $3,286,666 (2015 – $1,414,157), an increase of 132%. This increase in operating costs includes non-cash, non-recurring and currency expenses of $1,372,505. These costs relate to the share issuance value associated with listing the Company on the Canadian Securities Exchange through a reverse takeover, share based compensation, legal expenses for listing the Company, financings and the acquisition of VaporSeller, and foreign exchange movements in the Company’s source currencies including the British Pound and Euro. After adjusting for these numbers, management estimates total operating costs of $1,914,161 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 $1,927,776 (2015 – profit of $355,230). This decrease in net income is attributable to the transition of the Company’s business model, decline in gross margin and increase in operating costs. Going forward, management anticipates sales growth to strengthen from organic revenue generation and completed acquisitions, cost of sales to reduce due to high volume purchases and optimization of the product portfolio, and operating costs to reduce as a result of normalized operations. The Company anticipates being profitable and cash flow positive in fiscal 2017.

2017 Corporate Objectives

In 2017, the Company will continue to focus on key objectives to deliver value to its shareholders. These objectives include the following:

  • Continue to focus on high growth markets and position the Company to capitalize on the destigmatization of cannabis in major markets including the US and Canada. Grow organic sales at greater than 30% year-over-year from current business efforts and reach portability;
  • Complete multiple strategic acquisitions that expand the Company’s geographical presence, product offering and e-commerce capabilities. Seamlessly integrate these acquisitions into existing operations.
  • Further enhance e-commerce systems and further streamline the Company’s analytical reporting capabilities. Utilize the latest technologies to provide in-depth information on consumer and industry buying trends.
  • Expand the Company’s board and management team with qualified professionals and further train and develop existing staff members. Generate a results driven corporate culture focused on shared objectives.

Cease Trade Order

As disclosed in the Company’s press release dated January 5, 2017, trading of the Company’s common shares has been halted pursuant to a cease trade order of same date (“CTO“) issued by the British Columbia Securities Commission (the “Commission“) under National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisidictions. The filing of the 2016 Financials constitutes the Company’s application for removal of the CTO and initiates the Commission’s review process. The Company will provide additional disclosure as and when information becomes available in respect of the Commission’s review process.

Management Commentary

Sean Dollinger, President and CEO of Namaste, comments: “2016 has been a transformation year for Namaste. Looking back at the accomplishments of our team and our goals for 2017, I see nothing but opportunity. The hallmark of our team’s execution capabilities has been based on defining attainable objectives, implementing the right strategy, focusing the right people on executing that strategy, and overcoming any challenges as a team. I would like to thank all of our stakeholders for their support in 2016 and believe we will look back at 2017 with the same sense of accomplishment and optimism for the future.”

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 STATEMENTS

Certain statements included in this press release constitute forward-looking statements under applicable securities legislation. These statements relate to future events or future performance of the Company. All statements other than statements of historical fact are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as may, will, should, expect, plan, anticipate, believe, estimate, predict, potential, continue, or the negative of these terms or other comparable terminology. Undue reliance should not be placed on these forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. 

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. New factors emerge from time to time, and it is not possible for management of the Company to predict all of these factors and to assess in advance the impact of each such factor on the Companys business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement or information. The forward-looking statements contained herein are expressly qualified by this cautionary statement. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements.

The Canadian Securities Exchange has in no way approved nor disapproved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.

Sean Dollinger
Chief Executive Officer
Direct: +1 (786) 389 9771
info@namastevapes.com

Namaste Brings PAX 3 to Domestic and International Market $N.ca

Posted by AGORACOM-JC at 9:17 AM on Monday, December 5th, 2016

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  • Pleased to announce, alongside PAX Labs the commercialization of the PAX 3 vaporizer
  • latest version of PAX’s award winning premium vaporizer that has sold over one million units to date
  • Namaste will assume an active role in bringing the PAX 3 to market in North America and over 20 countries internationally

VANCOUVER, BRITISH COLUMBIA–(Dec. 5, 2016) - Namaste Technologies Inc. (“Namaste” or “Company”) (CSE:N) (CSE:N.CN) (FRANKFURT:M5BQ) is pleased to announce, alongside PAX Labs, Inc. (“PAX”), the commercialization of the PAX 3 vaporizer, the latest version of PAX’s award winning premium vaporizer that has sold over one million units to date. As the leading e-commerce company in the vaporizers and accessories industry, Namaste will assume an active role in bringing the PAX 3 to market in North America and over 20 countries internationally. The commercialization of the PAX 3 coincides with the upcoming holiday season. It is anticipated the product will be one of Namaste’s best selling during this period and going forward. Namaste will distribute promotional materials on the PAX 3 to its customer list of approximately 250 thousand individuals and will provide full customer support for the product.

The product can be purchased on Namaste’s sites at www.namastevapes.ca/products/pax-3-vaporizer or www.namastevaporizers.com/collections/pax.

Sean Dollinger, President and CEO of Namaste, comments: “As Namaste grows, we are continually building our relationships with best-in-class manufactutuers within the industry. Our expanded relationship with PAX, the manufactutuer of the best selling and one of the most innovioative vaporizers in the world, is teastimant to our increased industry profile. We look forward to further expanding our relationship with PAX and making the PAX 3 a great success for both our companies.”

PAX 3

Representing a milestone evolution for PAX’s flagship product, PAX 3 is a dual-use vaporizer for loose-leaf and concentrate materials. PAX 3 offers rapid selection between three different, easily changed ovens: a full-size oven, a half-pack oven and a new concentrate oven. PAX 3’s new heating system provides double the power of PAX 2, delivering a smooth, consistent vapor in as little as 15 seconds, with instant subsequent vapor delivery. Also, new to PAX 3, haptic feedback indicates when vapor is ready, when the device enters standby mode, and when it’s turned off. This third generation device retains distinctive features of the category defining PAX devices, including an internal accelerometer for energy and material saving features, intuitive gestural control, proprietary lip sensing technology for further flavor optimization, and a full color LED interface to indicate temperature, battery life and more.

PAX 3 is compatible with the PAX Vapor app, enabling consumers to further customize their device. Additional app features available for PAX 3 include dynamic modes: predesigned vapor experiences for distinct occasions that optimize temperature settings, vapor production and LED brightness. PAX 3 is designed with a mirror polished anodized aluminum shell and comes in Black, Gold, Silver and limited edition Rose Gold.

PAX 3 is meticulously engineered with the highest quality materials and components and comes with a 10 year warranty with ongoing customer support and service.

About PAX Labs

PAX Labs is making smoking obsolete. Founded in 2007 by two Stanford graduates, the company is a leader in portable heat-not-burn, vaporization technology. Headquartered in San Francisco, PAX Labs has revolutionized the smoking industry by offering new, heat-non-burn experiences under the PAX and JUUL brands. With technology innovation and product design at the forefront, PAX Labs has sold over one million PAX devices in the loose-leaf vaporizer category and JUUL is the number two selling U.S.-based independent e-cigarette. Drawing on the successful business and technology design of JUUL, PAX Era, a seamless extract pod system for extracts, was introduced in September 2016. PAX and JUUL have received standout reviews from leading media and were both winners of the 2016 iF DESIGN AWARD.

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 link below:

www.namastetechnologies.com

www.namastevaporizers.com

www.namastevaporizers.co.uk

www.vaporseller.com

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.

Sean Dollinger
Chief Executive Officer
+1 (786) 389 9771
info@namastevapes.com

Namaste Establishes Channel on Peeks Social Commerce Platform $N.ca

Posted by AGORACOM-JC at 8:48 AM on Thursday, December 1st, 2016

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  • Announced that it has entered an agreement with Keek Inc., the online social commerce company that is monetizing Peeks, an e-commerce enabled platform that allows users to livestream personal interactive e-commerce enabled mobile broadcasts
  • Established a channel on the peeks platform and will received exposure to Peek’s global user base of over 75 million registered users in approximately 100 countries

VANCOUVER, BRITISH COLUMBIA–(Dec. 1, 2016) - Namaste Technologies Inc. (“Namaste”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has entered an agreement with Keek Inc., the online social commerce company that is monetizing Peeks, an e-commerce enabled platform that allows users to livestream personal interactive e-commerce enabled mobile broadcasts. Namaste has established a channel on the peeks platform and will received exposure to Peek’s global user base of over 75 million registered users in approximately 100 countries.

Pursuant to the terms of the agreement, Peeks shall offer Namaste a premium position within its upcoming discovery channel that will cater towards multiple media partners, user generated content and highlighted e-commerce partners who will be able to monetize their live and archived videos. One of the upcoming discovery channel categories will focus on legalized cannabis and will feature Namaste as a premier e-commerce partner within that channel. Furthermore, Peeks will enlist social influencers that will participate in promoting the purchase of products through the Peeks Offer-Box technology. By simply tapping their screen, viewers inside Peeks can purchase influencer endorsed products provided by Namaste.

Management Commentary

Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to launch on the Peeks platform. We see significant opportunity to generate revenue through this application and plan to work with multiple high-profile influencers to affectively convert Peek’s 75 million registered users into exponential sales growth.”

About Keek Inc.

Keek’s core business is the developing of an online social video platform for both web and mobile with an emphasis on mobile which allows users to upload and share personal videos of themselves or events surrounding them, their self-expression. Keek has developed a global video social network, enabled over the Internet and on mobile devices around the world. Since inception, Keek’s community has grown to over 75 million registered users across 6 global regions including North America, South America, Europe, Middle East, Asia/Oceania, and Africa. Keek has also began an integration of Peeks livestreaming technology. Peeks is described as an e-commerce enabled platform that allows users to livestream personal interactive e-commerce enabled mobile broadcasts.

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 Signs Exclusive Distribution Agreement for Inhalater Products $N.ca

Posted by AGORACOM-JC at 8:45 AM on Wednesday, November 16th, 2016

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  • Entered an exclusive distribution agreement with Pharmacor Technologies Inc. for the international sale of the Inhalater line of vaporizers and accessories
  • Inhalater S6 will retail for approximately $300, which is a competitive price for a premium medical grade vaporizer

VANCOUVER, BRITISH COLUMBIA–(Nov. 16, 2016) - Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(FRANKFURT:M5BQ) is pleased to announce that it has entered an exclusive distribution agreement (the “Agreement”) with Pharmacor Technologies Inc. (“Pharmacor”) for the international sale of the Inhalater line of vaporizers and accessories. This Agreement represents one of multiple exclusive agreements the Company intends to pursue and is testament to the unique international distribution network and level of service the Company is known for delivering.

Inhalater Line of Products

Inhalater vaporization technology is the result of over 10 years of research and development and comprises a unique dual heating system that offers medicinal grade extraction qualities. This differentiates the products from other vaporizers. Pharmacor is currently releasing the Inhalater S6, which features the following characteristics:

  • Great taste and effective with flowers, concentrates and shisha tobaccos;
  • Medical grade device with protective caps and cost effective disposable mouth pieces;
  • Real-time temperature boost system that enhances vapor production and taste;
  • Compatible with a range of accessories including water tools, electric grinder to prepare concentrates and capsule pack to carry preloaded doses; and
  • Over 90 minutes of vaporization time.

The technology is patent pending for all industrialized countries. The Inhalater S6 will retail for approximately $300, which is a competitive price for a premium medical grade vaporizer.

Term of the Agreement

Pursuant to the term of the Agreement, Pharmacor has provided Namaste exclusivity over the sale of the Inhalater line of products for a period of 2 years. The exclusivity shall apply to all countries outside Canada and the US. In exchange for exclusivity, Namaste has committed to use reasonable commercial efforts to build the Inhalater brand internationally and will provide support in terms of managing advertising, shipping, customer service and support, and warranty and return functions. Namaste will charge Pharmacor competitive market rates for managing these services and has established standard operating procedures for administration and execution of the Agreement.

Management Commentary

Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to be working with Pharmacor to bring their products to the international marketplace. We have built Namaste into a differentiated company based on our extensive international distribution network and our ability to enter agreements with manufacturers to provide specific solutions to take their products to market. We see multiple opportunities to continue expanding our business through exclusive distribution rights.”

About Pharmacor Technologies Inc.

Pharmacor technologies is a Canadian based company in operation since 2006. With its first product release in 2012, the company has established itself as a leading entity in the field of medicinal vaporisation. Focused on developing and manufacturing forward thinking technology, Pharmacor combines unique Canadian R&D capacities in the field of cannabis technology with the mass production capacity of Chinese partners. This positions the company as a reference point in the world of vaporization.

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