Namaste Technologies is a fast growing, revenue generating company that is emerging as a leader in the global trend towards “vapingâ€. If you’re an investor that doesn’t know what vaping is, you’re about to learn something incredibly important. Hint, it is not to be confused with e-cigs.
July 19, 2016 • Reprints
So far, lithium has been the hottest metal of 2016, beating out gold, with exponential demand expected over the coming years. Although the price trajectory of the metal has been subdued in recent months, the fundamentals behind the long-term trajectory suggest strong potential for long-term growth. Price doubling from 2014-2015 was first seen in China and is now being felt worldwide, with lithium hydroxide prices from $16-20 and carbonate prices from $12,000-14,000 per ton.
Automotive thrust
There is no doubt as to the push that Tesla has given the current automotive transition to electric vehicles (EVs). As the company’s mission statement outlines, it hopes “to accelerate the advent of sustainable transport by bringing compelling mass market electric cars to market as soon as possible.”
However, since 2014, when Tesla first announced the Gigafactory with Panasonic, other manufacturers have begun to take notice and take action. Volkswagen AG announced last week that it was considering LG Chem Ltd. or Panasonic Corp. as partners for several $2 billion factories, according to Bloomberg, with confirmation expected later in the year.
Previous announcements of billion-dollar investments in battery factories by Volkswagen were largely brushed off by investors as deflections from their “Dieselgate” scandal. But with LG and Panasonic in the picture, concrete plans appear to be crystalizing.
Combined with Daimler putting $550 million into tripling its battery production capacity in Germany, Nissan’s planned investments in the UK for its third generation Leaf, and GM’s joint venture with LG Chem to produce batteries in Holland, Michigan, for its Volt and Bolt, it is clear that auto manufactures are beginning to shift to electric—and in a very big way.
Given this new investment, plug-in electric vehicle (PEV) sales are expected to experience 62% year-over-year Growth in 2016, 60% in 2017, and likely 100% in 2018. This translates into over 600,000 in PEV sales expected in 2018, creating a new level of demand for which the market will need two new lithium mines in operation to even begin to satiate.
“Looking at the full picture here, the future demand for lithium is truly staggering,” says Michael Kobler, CEO and director of American Lithium Corp., one of the ambitious new explorers shaking up the lithium mining scene in Nevada.
Read entire article here: http://www.resourceinvestor.com/2016/07/19/why-lithium-will-see-another-price-spike-fall
CARDSTON, ALBERTA–(July 22, 2016) – American Creek Resources Ltd. (TSX VENTURE:AMK) (“American Creek”) is pleased to report that its JV partner, Tudor Gold Corp. (TSX VENTURE:TUD) (“Tudor”) is expanding the previously announced 2016 exploration program on the Electrum Property in the “Golden Triangle” of NW British Columbia 45km north of Stewart.
American Creek and Tudor recently entered into a joint venture agreement with Tudor holding a 60% interest and American Creek holding a 40% interest in the project. Tudor is the operator.
Past work on the property resulted in the discovery of extremely high grade gold, silver and electrum veins on surface and at depth (see American Creek website for details).
The Electrum Project (includes historic East Gold Mine) is located approximately 25km south of Pretivm’s Brucejack Gold Mine, near past operating mines including the Riverside, Scotty Gold, Granduc, Big Missouri and Silbak-Premier. The Electrum is road accessible and is only 45km from world class concentrate shipping port facilities located in Stewart. Also, a new power line running up the valley beside the Electrum property is now being constructed by Pretivm Resources.
American Creek Resources Ltd. is a Canadian junior mineral exploration company focused on the acquisition, exploration and development of mineral deposits within the Province of British Columbia, Canada.
Information relating to the Corporation is available on its website at www.americancreek.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
American Creek Resources Ltd.
Kelvin Burton
403 752-4040
[email protected]
www.americancreek.com
TORONTO, ONTARIO–(July 21, 2016) – The shareholders of KWG Resources Inc. (CSE:KWG)(FRANKFURT:KW6) (“KWG”) have held their Annual and Special General Meeting voting resoundingly in favour of the re-election of the Company’s incumbent Board of Directors but then, very ambiguously, not supporting that same management’s principle initiative. A tally of proxies delivered for use at the meeting in respect of a proposed Special Resolution intended to provide the market in KWG’s shares with possible additional liquidity mechanisms, indicated that, if put to a vote, the Special Resolution would fall short of the desired two-thirds of the votes represented at the meeting. Accordingly, the meeting was then adjourned without a vote being held in respect of the Special Resolution to a date to be announced.
Annual Meeting voting results
Of KWG’s 961.3 million outstanding shares, proxies for a total of 501 million shares were voted at the meeting re-electing as directors Douglas Flett (98.43% in favour), Thomas Pladsen (98.41% in favour), Donald Sheldon (98.44% in favour), Frank Smeenk (98.77% in favour) and Cynthia Thomas (97.37% in favour). However, proxies representing 200.2 million shares were instructed to be voted against the Special Resolution seeking authority to create (by conversion of common shares for holders electing to do so) multiple voting shares re-convertible into their constituent common shares. The Company reported that its two largest shareholders, voting some 36% of the shares represented in person or by proxy at the meeting, had provided proxies that opposed the initiative which was overwhelmingly supported by the majority of KWG’s numerous individual shareholders. In the result, only some 60% of the votes available to be cast at the meeting were in favour and the meeting was adjourned without the Special Resolution having been put to a vote.
“Since 1929 the ‘penny stock’ market has been denied access to margin credit and put-and-call option trading”, said KWG President Frank Smeenk. “This has perhaps in the past served well the interests of promoters and their underwriters, but often not so much the investors. We are determined to bring the benefits of those liquidity mechanisms to the owners of KWG so that its value can be fairly established in capital markets which include both those mechanisms and the very numerous sophisticated investors who seek their utility. This is particularly opportune now, as our Company’s undertakings increasingly come to international attention for their long-term strategic value. But, we do not want to leave behind the many thousands of our owners who are content to speculate only in the ‘penny market’. Our proposed solution is to do to our shares what all governments that circulate currency do to their money: let it be usable in both small denomination coins (pennies, nickels and dimes) and large denomination bank-notes (dollar bills), interchangeable back and forth at any time in accordance with a fixed exchange ratio. Instead of coins and bank-notes, KWG would have single-vote shares and multiple-vote shares, interchangeable back and forth at any time in accordance with a fixed exchange ratio. The support of the vast majority of our numerous individual shareholders has been gratifying and we are quite hopeful of soon being able to provide them with this simple mechanism. We think that it will increase considerably the liquidity in the market for shares in our Company and largely close the chasm between what their present sellers would take and what their buyers would pay. For KWG, a ‘penny market’ that trades in 1/2 cent increments has ceased to be of service for its shareholders. And, as there is no financial penalty in listing fees on the Canadian Securities Exchange, we have a unique opportunity to leave all of our issued shares outstanding. In this way we hope to avoid the disintermediation of our many enthusiastic small shareholders by the usual consolidation of capitalization, a route taken by so many other junior resource companies, and the consequent loss of liquidity from destruction of their tradable board lots which results.”
Recovery Process studies budgeted by Natural Resources Canada unit
The Steering Committee overseeing the Canadian Chromite R&D Initiative of Natural Resources Canada’s Canmet Mining unit recently approved programs and budgets for further research including KWG’s proprietary direct reduction method of producing ferrochrome with natural gas. KWG will provide sample material from the Black Horse chromite occurrence for use in the research programs.
Private Placement addition
The Canadian Securities Exchange has granted permission for the completion of one final tranche of the previously-announced private placement of units, for $150,000. Each of the 7.5 million further units will comprise one new treasury share and one warrant; each warrant may be exercised to acquire a further treasury share for $0.05 at any time within five years from closing. KWG applied for and was granted relief to the CSE’s minimum price rule. All shares issued will have a hold period of four months.
About KWG:
KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP is prosecuting two chromite-refining patent applications in Canada, China, India, Indonesia, Japan, Kazakhstan, South Africa, South Korea, Turkey, and USA.
Shares issued and outstanding: 961,320,281
KWG Resources Inc.
Bruce Hodgman
Vice-President
416-642-3575
[email protected]
Online Wagering Platform for the Future of Competitive Gaming
Why VGambling Inc?
“There is no other way to say it … VGambling represents one of the best potential mega winners I’ve seen in years.” George Tsiolis, AGORACOM Founder
“The Business of eSports Is Set To Explode…. Billions of dollars will soon be wagered on eSports competitions. Brands, consultants and investors are always looking for the next great opportunity and eSports appears to be an able applicant for the role.†Forbes Magazine, October 15, 2015
The 5 Things You Need To Know:
1. eSports – Over 130 million people from around the world tune in to watch teams of video game players compete with each other.
2. eSports Wagering – Wagering on eSports is projected to hit $23 BILLION by 2020.
3. VGambling is the next generation online gambling company that is built for the purpose of facilitating as much of this wagering as possible
4. VGambling is fully licensed, compliant and authorized to legally transact in eSports wagering.
5. VGambling has assembled a team of officers and board members with significant star power in the world of eSports and online gambling
Who is VGambling Inc.?
The Opportunity
INTERNET GAMBLING EXPENDITURE IS INCREASING GLOBALLY
Online gambling, also known as Internet gambling and iGambling, is a general term for gambling using the Internet.
eSports
Electronic sports (also known as eSports, e-sports,
competitive gaming, or programming in Korea) is a term for organized multiplayer video game competitions.
Last year Riot Games’ “League of Legends†world championship had 27 million streaming views. To provide some correlation, it was more than the average viewership of the World Series of baseball, which is the second most viewed sport in the USA. The number of professional eSports tournaments worldwide more than tripled from 430 in 2013 to 1,485 in 2014.
Vancouver, BC / July 21, 2016 – Pacific North West Capital Corp. (“PFN”, the “Company”) (TSX-V: PFN; Frankfurt: P7J; OTCQB: PAWEF announces that its 100% owned subsidiary, Lithium Canada Developments will be conducting a Phase One Exploration Program, during the summer of 2016, on three Lithium Projects in southeast Manitoba.
A surface Phase One Exploration Program, consisting of Mapping, Prospecting and Sampling of known Pegmatites, on three of the company’s Lithium Projects, will begin during the summer of 2016. Presently, work permits have been submitted with the government and once granted, the field work will begin. The exploration program planned will lay the groundwork for future Exploration Plans and Drill Programs. Historic records in the region have indicated Lithium mineralization and mineralogy to be present in several Pegmatites, but at the time, exploration was being conducted for other commodities.
The three projects that are being explored this summer will be the Lithium One, Lithman North and Lithman East Projects. All three have previously mapped Pegmatites and are situated in the Winnipeg River Pegmatite Field. This Pegmatite Field hosts the world class Tanco Pegmatite, which has been mined from an underground operation, at the Tanco Mine Site in various capacities, since 1969. It once was one of the primary producers of Spodumene (a primary Lithium ore) in North America.
The Tanco Pegmatite is not exposed at surface, except for under Bernic Lake. It is an extremely fractionated, rare-metal, complex type-Petalite subgroup, LCT (Lithium-Cesium-Tantalum) Pegmatite, hosted in a late-stage, subvolcanic Gabbro. Current NI43-101 compliant resource calculations are not available for the Tanco Pegmatite. Academic publications have estimated the size of the deposit to be up to approximately 57 million tonnes. The last published mineral reserves (end of 1992) were 1.075 million tonnes of 0.12% Ta2O5, 3.5 million tonnes of 2.7% LiO2, and 315,000 tonnes of 23.3% Cs2O.
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Lithium Canada Development Inc. (100% wholly owned Subsidiary of Pacific North West Capital); total land holding in SE Manitoba, as of July 2016: 6,181 hectares (15,274 acres).
Further announcements regarding potential Joint Ventures and other exploration initiatives, on the company’s Lithium Projects, in southeast Manitoba will be forthcoming.
About the Company’s Business Model
“Utilizing the Prospector Generator Model and an aggressive project Acquisition Program, management plans to provide our shareholders with the opportunity to explore and develop a number of Concurrent Exploration Projects. After an initial phase of exploration on our projects, our team plans to partner via Option/Joint Venture Agreements with Major and well-funded Junior companies that want exposure to the Lithium industry.
The Prospector Generator Model reduces risk, share dilution and increases Discovery Potential.”
About The Company’s Lithium Division
The company’s new Lithium Division will focus on the Discovery, Acquisition, Exploration and Development of Lithium Projects in Canada. In the United States, the company will use its wholly owned U.S.A subsidiary to Acquire and Develop projects, in active mining camp, in Nevada, Arizona and California.
Management believes that these New Age Metals, Lithium, PGMs and Rare Earths, have robust macro trends, with surging demands and limited supply. Going forward, this new Division will explore for the minerals needed, to fuel the demand for energy storage and other core 21st Century Technologies.
The company has a growing portfolio of Lithium Projects. The Clayton Valley Forks Li Project in Nevada is a recent Lithium Brine Project, acquired by the company (PFN News Releases: April 25th, 2016 and May 9th, 2016.) The company also has Hard Rock Lithium projects in Canada (PFN News Releases: April 21st, 2016, May 24th, 2016 and July 5th, 2016), located in the Winnipeg River Pegmatite Field of southeast Manitoba.
Lithium and Platinum Group Metal prices have improved dramatically in recent months. Lithium supplies remain in deficit, relative to their demand. Both metals groups are used for the expanding worldwide automobile industry (conventional and electric). In the case of PGMs, demand is increasing for Autocatalysts, a key component for reducing toxic emissions for automotive, gasoline and diesel engines. Regarding Lithium, there is an ever increasing demand for batteries, in cellphones, laptops, electric cars, solar storage, wireless charging and renewable energy products.
About the Company’s Platinum Group Metals Division
Achievements to date and future plans for River Valley are outlined below as follows:
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– Prepared by Tetra Tech (Wardrop)
– High Confidence: Measured plus Indicated = 72% of total
– Reported on PdEq basis: Pd=40% & Pt=20% of the payable metals
– Pd to Pt ratio = 2.5:1; Cu to Ni ratio = 3:1
– High Grade potential, particularly in the north part of the River Valley deposit
– Resources under evaluation for development potential, as open pit mining operation
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– Drill hole intercepts much higher than the average grade of current mineral resource estimate
– Possible new mineralized zone at the north end of the River Valley deposit
– Show potential to take the River Valley PGM Project in a new direction
-More drilling required
Click Image To View Full Size
Exploration and Development Plans for 2016:
-Mineral Prospecting and Geological Mapping on surface
-Drill Programs targeted to add more higher grade
-Geological interpretation and 2D/3D modeling of all drill and surface results
-Application to the OPA’s Junior Exploration Assistance Program (JEAP) for 33% refund
of all exploration expenditures up to $300,000.
-Ongoing Strategic Partner Search for River Valley
QUALIFIED PERSON
The contents contained herein that relates to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Dr. Bill Stone, Principal Consulting Geoscientist for Pacific Northwest Capital. Dr. Stone is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content.
On behalf of the Board of Directors
” Harry Barr ”
Harry Barr
Chairman and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements. This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.
 
Namaste Technologies a global leader in vaporizer product manufacturing and distribution, has closed the acquisition of VaporSeller, an e-commerce seller of vaporizers and accessories.
VANCOUVER, BRITISH COLUMBIA–(July 19, 2016) – Fairmont Resources Inc. (TSX VENTURE:FMR)(OTC:FRSSF)(FRANKFURT:F0O1) (“Fairmont”) Fairmont intends to make the final payment on the Grabasa purchase of 2,550,000 Euros to the Spanish courts before the expiry of the exclusivity period on July 25, 2016.
The Grabasa transaction purchase exclusivity period expires 90 days from April 26, 2016. The transaction itself will remain valid and does not expire after that date, but the courts and receivers will be able to discuss the assets of Granitos de Badajoz with other potential purchasers should Fairmont not complete the payment terms of the purchase.
About Fairmont
Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.
Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have display exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s exploration program of its mineral properties and Fairmont’s limited operating history. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Michael A. Dehn
President and CEO
Fairmont Resources Inc.
647-477-2382
[email protected]
www.fairmontresources.ca
Doren Quinton
President
QIS Capital
250-377-1182
[email protected]
www.smallcaps.ca
July 19, 2016 / Vancouver, British Columbia- Nevada Energy Metals Inc. “the Company”, TSX-V: BFF (OTCQB: SSMLF) (Frankfurt: A2AFBV) is pleased to announce that, subsequent to the Companies news release of June 17th, 2016, American Lithium Corp. has received TSX-V approval to acquire all of the outstanding shares of 1074654 B.C. Ltd which holds the right to acquire up to a 70 % interest in and to the Clayton Valley BFF-1 project “the Property” located in Nevada.
American Lithium Corp. now assumes the obligations in respect to the previously announced option agreement, which in addition to a non-refundable deposit of USD$25,000 (paid) is USD$2750,000 and 1,200,000 million common shares of American Lithium Corp. in three tranches on or before the second anniversary of closing, and $1-million in exploration expenditures on or before the third anniversary.
Following the exercise of the Option, the American Lithium Corp shall have a seventy (70%) interest in and to the Property, with Nevada Energy Metals retaining the balance. Thereafter, the parties will work diligently and in good faith to negotiate the terms of a joint venture to advance development of “the Property. The joint venture will provide that expenditures on the Property will be funded on a pro rata basis, based upon the respective parties proportionate interest in the Property. In the event that any one party declines to fund the expenditures in proportion to their interest, their respective interest in the joint venture shall be reduced accordingly, provided that no party shall be diluted below a fifteen (15%) interest in the Property.
Rick Wilson, Chief Executive Officer of Nevada Energy Metals, commented: “We are delighted to have American Lithium Corp as our partner with which to advance the Clayton Valley property. The BFF-1 Project covers an area similar to the structural and geologic settings at Albemarle’s Silver Peak lithium-brine operation and lies only two hundred meters to the north west side of their property. We look forward to an exciting exploration program being carried out in the months ahead.”
About the BFF-1 Project:
The Clayton Valley BFF-1 Project is an early-stage lithium brine prospect in Esmeralda County, Nevada. A total of 77 placer claims cover an area of approximately 623 ha (1,540 acres) on the north-western side of the original Clayton Valley playa. The property position covers an inferred graben bounded by the Silver Peak Range front on the west and by an outlier of Paleozoic rocks known as Goat Island on the east. The exploration concept is that the graben is a sub-basin of the larger Clayton Valley basin and may represent a secondary trap for lithium brines within the greater system.
The Clayton Valley BFF-1 NI 43-101 Technical Report by Alan Morris, CPG, QP, states “The property has strong potential to host Lithium brine deposits in favorable geologic horizons within the basin fill. Another possible target is lithium enriched clay within the fill package and potentially in previous high stands of the playa.” (April, 2016)
Geologic and geophysical mapping conducted for geothermal exploration and documented by Hulen (2008) indicates previously unrecognized, deep graben lying between the Silver Peak range front and outcrops of Paleozoic rocks at Goat Island and Alcatraz Island. This area was their target zone for a deep circulating geothermal system they hoped to exploit for geothermal power. This graben is the main target for lithium brine as it may represent a separate sub-basin in Clayton Valley that holds brines not subject to pumping by production wells on the east side of the main valley. Exposed mineralization is confined to salt crust on the playa surface and other locations in the valley.
Western Geothermal Partners drilled a 120 meter (400 foot) geothermal gradient test well in 2006 on what is now the Clayton Valley BFF-1 project. Bottom hole temperature was 50?C (122?F) which showed moderate potential for geothermal power. Of significance, the well encountered a 25-foot-thick zone of volcanic ash reportedly similar to the Main Ash Aquifer in the Clayton Valley lithium operation. The presence of any felsic ash in this hole is significant in light of that, it is the presumed source for at least some of the lithium in the brines (Price et al, 2000).
Qualified Person: The technical content of this news release has been reviewed and approved by Alan Morris CPG, Elko, Nevada
About Nevada Energy Metals: http://nevadaenergymetals.com/
Nevada Energy Metals Inc. is a well funded Canadian based exploration company who’s primary listing is on the TSX Venture Exchange. The Company’s main exploration focus is directed at lithium brine targets located in the mining friendly state of Nevada. The Company has 100% ownership in 77 claims in Clayton Valley, only 250m from Rockwood Lithium, the only brine based lithium producer in North America. Nevada Energy Metals has also acquired, 100 claims (Teels Marsh West) covering 2000 acres (809 hectares) at Teels Marsh, Mineral County, Nevada, a prospective lithium exploration project, 100% owned without any royalties; the San Emidio Desert lithium project, consisting of 155 claims (approximately 3,100 acres/1255 hectares) in Washoe County, Nevada; the Alkali Lake Project in Esmeralda county, is a 60% earn in option agreement from Dajin Resources Corp, where near surface lithium values have been confirmed; the Dixie Valley Project consisting of 911 claims covering 73.6 square kilometers/28.4 square miles (7,363 hectares/18,194 acres) of salt marsh playa. Of the seven characteristics favourable for the formation of a lithium brine deposit as outlined in the U.S. Geological Survey deposit model, all seven are found in Dixie Valley. The lithium deposit model for Dixie Valley is a Clayton Valley-style brine deposit.
On Behalf of the Board of Directors
Rick Wilson, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Highlights of the acquisition:
TORONTO, ONTARIO–(July 18, 2016) –
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(OTC PINK:NXTTF)(FRANKFURT:M5BQ) reports that it has completed the acquisition of VaporSeller, an e-commerce portal for the sale of vaporizers and accessories that generated an unaudited revenue base of US$3.4 million in 2015. The Company has commenced integration activities to ensure an effective transition into the operations of Namaste. This includes software integration, inventory storage and controls, and the transition of customer service and support functions. The following sets forth the highlights of the acquisition:
Further to the Company’s press release dated June 7, 2016 that outlines the definitive terms for the acquisition of VaporSeller, the Company has acquired all VaporSeller related website domains, a customer list of over 150,000 names, and related intellectual property, goodwill, and support services, in exchange for US$500,000 in cash, 5.0 million shares of Namaste over time and an earn-out of US$1.5 million, subject to revenue and margin controls.
In addition to closing the acquisition of VaporSeller, the Company has also closed on the minimum subscription requirement of its non-brokered private placement by issuing approximately 8.0 million units (“Units) of the Company for gross proceeds of approximately $960,000. Each Unit consists of one common share of the Company and one common share purchase warrant at an exercise price of $0.18 for a period of 2-years. All securities issued pursuant to the non-brokered private placement are subject to a four month plus one day hold period. The Company continues to work with investors to obtain additional subscriptions for its non-brokered private placement and will update investors in due course.
Mr. Sean Dollinger, President and CEO of Namaste, comments: “The closing of VaporSeller represents a very significant accomplishment for the Company. In less than 6-months from going public, we have more than doubled the size of Namaste’s revenue base, substantially expanded our customer base, entered the US market and added important new lines of products. I would like to personally thank all those involved in bringing this transaction together.”
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has over 30 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:
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 (604) 685-8045
+ 1 (786) 389-9771
[email protected]
www.namastetechnologies.com