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INTERVIEW: Namaste $N.ca Discusses Recording Breaking Revenues While Doing Business in Over 20 Countries #Vapes #Vaping
Posted by
at 3:38 PM on Friday, August 18th, 2017
Did you know Namaste $N.ca owns 26 e-commerce #Vaporizer stores in 20 countries #Vapes #Vaping
Posted by
at 10:48 AM on Wednesday, August 16th, 2017
- World’s Largest E-Commerce B2C Vaporizer Company
- Monthly Sales of C$1.19M for July 2017
- Aggressively expanding into manufacturing and wholesalingDistribution centers in North America, South America, Europe and Asia Pacific
- Owns 26 e-commerce stores in 20 countries
- Revenue for AUG 31 2018 expected $24.9 million
Namaste Announces July Sales of C$1.19M Representing 298% Year-on-Year Increase $N.ca
Posted by
at 8:10 AM on Tuesday, August 15th, 2017
- July 2017 unaudited sales as reported by the Company were CAD$1,196,971
- 298% increase in July year-on-year sales
VANCOUVER, B.C., Aug. 15, 2017 — Namaste Technologies Inc. (“Namaste†or the “Companyâ€) (CSE:N) (FRANKFURT:M5BQ) (OTCMKTS:NXTTF) is pleased to announce July 2017 unaudited sales as reported by the Company (including shipping revenues and after discounts and refunds) were CAD$1,196,971 compared to CAD$300,773 in July 2016, representing a 298% increase in July year-on-year sales.
The table below displays a revenue breakdown for Namaste’s various sales channels. These figures represent a 298% monthly year-on-year increase in revenue. Reported revenues declined by 11% in July 2017 when compared with June 2017. This is expected as the summer period is typically soft. Analysis of the larger sites shows a 1% decline in July 2017 when compared with June 2017. Sales increased 20.7% year on year in July on an organic basis in constant currency.
| Revenues – July 2017 (CAD$) | ||||
| Namaste | Â 469,009 | |||
| EDIT | Â 176,899 | |||
| Australian Vaporizers | Â 409,928 | |||
| Green Vapes | Â 11,363 | |||
| Distribution Goods | Â 92,586 | |||
| Dropshipping | Â 15,108 | |||
| Channels | Â 22,078 | |||
| Total revenues | Â | Â | Â 1,196,971 | |
The table below outlines gross sales of the major sites operated by the Company. Revenues below do not include shipping revenues and are before discounts and refunds.
| Selected operating data e-Commerce July 2017 in CAD$ | Â | Â | Â | ||
| Â | traffic | conversion | Â Â Â Â orders | Â Â Â basket price | Â Â gross revenues |
| Namaste | Â 103,918 | 1.91% | Â 1,985 | Â $241 | Â $478,786 |
| Australian Vaporizers | Â 47,903 | 3.92% | Â 1,876 | Â $212 | $ 398,629 |
| EDIT | Â 260,459 | 0.86% | Â 2,244 | Â $89 | Â $200,659 |
| GreenVapes | Â 3,183 | 1.60% | Â 51 | Â $205 | Â $10,462 |
| Total | Â 415,463 | 1.48% | Â 6,156 | Â $177 | Â $1,088,536 |
The conversion ratio of Namaste Vapes was 1.91% in July 2017. This compares with 1.96% in June 2017 and 1.76% in July 2016. Traffic consisted of 103,918 visitors in July 2017, representing a significant increase in comparison with 43,350 visitors in July 2016 and 94,139 visitors in June 2017.
The conversion ratio of EveryoneDoesit was 0.86% in July 2017. This compares with 0.87% in June 2017 and 1.05% in July 2016. Traffic consisted of 260,459 visitors in July 2017 repersenting an 11% decline in comparison with 292,423 visitors in July 2016 and a 5% increase in comparison with 247,717 visitors in June 2017. The EveryoneDoesit site was moved from Magento to the Shopify platform in the first quarter of 2017 which caused a slowdown in traffic. The trend shows that the lowest point in traffic was passed in April 2017 and the migration to Shopify has started to show results, hence the month on month increase.
The conversion ratio of Australian Vaporizers was 3.92% in July 2017. This compares with 4.50% in June 2017 and 4.52% in July 2016. Traffic consisted of 47,903 visitors in July 2017, a substantial increase in comparison with 33,420 visitors in July 2016 and 45,040 visitors in June 2017. We believe that the decline in conversion ratio is temporary as Australian Vaporizers moved to the Shopify platform last month. The transition to another platform typically disrupts traffic.
Issued and Outstanding Shares of the Company
During the month of July 2017, the issued and outstanding share amount increased by 822,667 common shares of the Company, resulting from the exercise of warrants.
Management Commentary
Sean Dollinger, President and CEO of Namaste comments: “We are very pleased to see this amazing year-on-year growth with Namaste showing such strong sales for the month of July which is typically one of the slowest months of the year. Our efforts in implementing machine learning technology and enhancements on our platform are very exciting. We expect to see continued growth going forward into the fall and holiday season.â€
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 Dollingerâ€
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: [email protected]
Further information on the Company and its products can be accessed through the links 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.
FEATURE: Namaste (N:CSE) World’s Largest E-Commerce B2C Vaporizer Company with $1.3M in Monthly Revenue (June ’17) $N.ca
Posted by
at 12:50 PM on Tuesday, July 25th, 2017
(CSE:N) (FRANKFURT:M5BQ) (OTCMKTS:NXTTF)
- World’s Largest E-Commerce B2C Vaporizer Company
- Record Monthly Sales of CAD$1.349M For June 2017
- Revenue for AUG 31 2018 expected $24.9 million
- Owns 26 e-commerce stores in 20 countries
- Distribution centers in North America, South America, Europe and Asia Pacific
- Aggressively expanding into manufacturing and wholesaling
Namaste Signs Marketing Agreement With Peeks Social to Promote and Sell Vaporizers in Peeks Platform
- To work with strong social influencers actively involved in the network and supportive of the medical cannabis industry to promote certain brands of products selected by Namaste.
- Its wholly owned subsidiary, has been approved by Health Canada for a Medical Device Establishment Licence
- MDEL will allow Namaste to import and distribute vaporizers which are approved by Health Canada as Medical Devices
Namaste Enters Into Non-Binding LOI With CannMart, a Late Stage ACMPR Applicant
- Namaste will purchase all of the issued and outstanding shares in the capital of CannMart, a late stage applicant under the Access to Cannabis for Medical Purposes Regulations
- In 2014, CannMart submitted its application to become a “sales only” licensed producer of medical cannabis (the “ACMPR Application”).
Entered into a definitive agreement with Australian Vaporizers PTY Limited
- Further Increase to Bought Deal Financing to $10M
- For the period ended June 30, 2016, the company produced approximately $4.5 million of revenue and $1.1 million of EBITDA
- International ecommerce distribution
- Proprietary vaporizer products
- Targeting organic growth at 100% per year
- Sourcing accretive M & A transactions
Namaste Expands Product Portfolio in Advance of US Elections
- Secured new agreements with manufacturers of indoor growing equipment
- Product lines added to Namaste’s e-commerce portals and complement the Company’s existing portfolio of vaporizers, pipes, papers and other accessories
- New product portfolio also represents a further monetization of Namaste’s customer list of approximately 250 thousand names
- Unaudited 12 month trailing revenues were approximately C$3.2 million for the period ended August 31, 2016
- Gross profit margin of 53%
- In business since 2000
- Combined proforma unaudited 12 month trailing revenues of approximately C$10 million for the period ended August 31, 2016
- Total monthly site traffic of over 550,000 visitors
- Entered into two new strategic partnerships to expand its market presence as the leading e-commerce company focused on vaporizers and accessories
- Partnerships are with well-known online reviewer Sneaky Pete (SPV Enterprises LLC) and VaporTownUSA.com
- Partnerships are anticpated to enhance the overall revenue of Namaste through online video reviews, high quality links to the Namaste sites and expansion of sales channels internationally
Regulation
- Decriminalization and destigmatization of marijuana for medical and recreational use in US, Canada and Europe
- Vaporizers have lower regulatory burden than growers
Health Advantages
Technical Advances
- Improved mobility from reduced size of vaporizers
- Ability to handle liquids, resins and plant matters
- Conduction, convection, induction technologies
- Mobile connectivity
- Increasingly becoming part of the internet of things
Namaste Announces Record Breaking Sales of C$1.34M Representing 21.8% Month-On-Month Increase $N.ca
Posted by
at 8:49 AM on Monday, July 10th, 2017
- Achieved record monthly sales and traffic for the month of June
- Total unaudited sales as reported by the Company were C$1,349,545 in June 2017
- Compared to C$1,108,034 in May 2017, a 21.8% increase.
VANCOUVER, British Columbia, July 10, 2017 — Namaste Technologies Inc. (“Namaste†or the “Companyâ€) (CSE:N) (FRANKFURT:M5BQ) (OTCMKTS:NXTTF) is pleased to announce that it has achieved record monthly sales and traffic for the month of June. The total unaudited sales as reported by the Company (including shipping revenues and after discounts and refunds) were C$1,349,545 in June 2017 compared to C$1,108,034 in May 2017, a 21.8% increase.
The month-on-month increase in revenue was achieved across the large network of sites operated by Namaste which all showed higher conversion rates. The increase in revenue is particularly pleasing as typically revenue is soft during the summer months. Namaste Vapes and Everyonedoesit showed good progress in conversion rates and average order value which were drivers of revenue growth. Australian Vaporizers benefited from an already high conversion rate which increased to 4.5% for the month.
The table below displays a revenue breakdown for Namaste’s various sales channels.
| Revenues – June 2017 (C$) | |||||||||
| Channels | Â 6,942 | ||||||||
| Distribution Goods | Â 143,437 | ||||||||
| Dropshipping | Â 18,972 | ||||||||
| EDIT | Â 191,500 | ||||||||
| Green Vapes | Â 17,273 | ||||||||
| Namaste | Â 547,459 | ||||||||
| Australian Vaporizers | Â 423,961 | ||||||||
| Total revenues | Â | Â 1,349,545 | |||||||
| Below are gross sales of the major sites operated by the Company. Revenues below do not include shipping revenues and are before discounts and refunds. | |||||||||
| Selected operating data e-Commerce June 2017 in C$ | Â | Â | |||||||
| Â | traffic | conversion | orders | Â basket price | Â gross revenues | ||||
| Namaste | 94,139 | 1.96 | % | 1,845 | $ | Â 278 | $ | Â 513,827 | |
| Australian Vaporizers | 45,040 | 4.50 | % | 2,026 | $ | Â 182 | $ | Â 367,766 | |
| EDIT | 247,717 | 0.87 | % | 2,148 | $ | Â 94 | $ | Â 201,134 | |
| GreenVapes | 3,479 | 1.47 | % | 51 | $ | Â 303 | $ | Â 15,469 | |
| Total | Â 390,375 | 1.55 | % | Â 6,070 | $ | Â Â 181 | $ | Â Â 1,098,195 | |
Namaste has implemented proprietary machine learning algorithms on several of its major sites that adjust website content and product listings ‘on-the-fly’ based on user behavior. These sites have seen substantial increases in conversion rates as a result and Namaste plans on launching the same technology throughout their platform.
At the end of June the Company granted 1,725,000 options to staff and consultants. The options will vest quarterly over a period of two years and are exercisable for five years at an exercise price of $0.25.
Management Commentary
Sean Dollinger, President and CEO of Namaste comments: “We’re very excited to see amazing results in June sales due to of all the hard work from our management team in implementing innovative strategies to increase sales organically. The implementation of machine learning to our platform has had immediate positive results. We expect to see similar results once this technology is launched throughout our platform. We look forward to continued growth as well as expansion into new markets and product categories.â€
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 Dollingerâ€
Chief Executive Officer
Further information on the Company and its products can be accessed through the links 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.
Contact: Sean Dollinger Chief Executive Officer Direct: +1 (786) 389 9771 Email: [email protected]
Namaste Announces Record Monthly Sales of CAD$1.108M $N.ca
Posted by
at 11:47 AM on Wednesday, June 7th, 2017
- Achieved record monthly sales and traffic for the month of May
- Total unaudited sales amount for May is CAD$1.108 million representing
- 4.7% increase in sales from April
VANCOUVER, British Columbia, June 07, 2017 – Namaste Technologies Inc. (“Namaste†or the “Companyâ€) (CSE:N)(FRANKFURT:M5BQ)(OTCMKTS:NXTTF) is pleased to announce that it has achieved record monthly sales and traffic for the month of May. The total unaudited sales amount for May is CAD$1.108 million representing a 4.7% increase in sales from April.
The table below depicts at a high level gross revenues including traffic and conversion rates for Namaste sites. Note that ‘Namaste’ from the table below represents all sites which operate under the ‘Namaste Vapes’ brand. This table does not include revenue generated from wholesale, drop shipping or other sales channels.
Total net sales as reported by the Company (including shipping revenues and after discounts and refunds) were CAD$1,108,034 in May 2017, as compared to CAD$1,058,192 in April 2017, representing a 4.7% increase.
Below are gross sales of the major sites operated by the Company. Not included are drop-ship sales, Distribution Goods, channel sales and direct sales. These represent approximately 9.9% of total revenues. Revenues below are excluding shipping revenues and before discounts and refunds. Effective May 7, 2017 VaporSeller is integrated with NamasteVapes.
Select operating data May 2017 in $CAD
| Traffic | Conversion | Orders | Basket Price | Gross Revenues | ||||
| Namaste | 109,677 | 1.72 | % | 1,883 | $ | 235 | $ | 442,930 |
| Australian Vaporizers | 47,472 | 4.03 | % | 1,911 | $ | 193 | $ | 368,003 |
| EDIT | 248,248 | 0.75 | % | 1,867 | $ | 88 | $ | 163,840 |
| GreenVapes | 3,394 | 1.86 | % | 63 | $ | 302 | $ | 19,039 |
| Total | 411,821 | 1.40 | % | 5,772 | $ | 173 | $ | 996,711 |
Further analysis of the e-commerce sites shows that the percentage of recurring traffic of the larger sites has increased and is currently between 28% and 37% of total traffic depending on the site. In addition, recurring revenues represent more than 50% of total revenues which points at an increased average basket price for recurring customers. Furthermore the conversion ratio of recurring traffic is much higher than the conversion of new visitors. The conversion of new visitors to the Namaste Vapes sites was 1.01% and for recurring visitors it was 2.99% in May. The conversion of new visitors to the EDIT sites was 0.52% and for recurring visitors it was 1.33% in May.
The Company made good progress with its wholesale division Distribution Goods. Revenues in May increased with 8.9% to C$72,324 compared with the previous month. Distribution Goods was the fastest growing division after Australian Vaporizers, which reported a 15% increase in sales in May compared with April.
Management Commentary
Sean Dollinger, President and CEO of Namaste comments: “We are very pleased with the results of May sales. The integration of Australian Vaporizers has gone well thanks to our management team and we are expecting continued growth along with reduction of operating expenses going forward into this quarter.â€
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 Dollingerâ€
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: [email protected]
Further information on the Company and its products can be accessed through the links 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.
Contact: Main: + 1 (786) 389-9771 www.namastetechnologies.com [email protected]
INTERVIEW: Namaste Discusses Receiving Health Canada Medical Device Establishment Licence in Order to Distribute Approved Vaporizers $N.ca
Posted by
at 9:07 AM on Thursday, June 1st, 2017
Namaste Signs Agreement With Peeks Social to Promote and Sell Vaporizers in Peeks Platform $N.ca
Posted by
at 9:12 AM on Wednesday, May 17th, 2017
- Signed a marketing agreement with Peeks Social Ltd. (“Peeks”) (TSX VENTURE:PEEK)(OTCQB:KEEKF)
- To promote Namaste’s product offering as a preferred vendor on its iOS and Android Apps
- Namaste and Peeks will work with strong social influencers actively involved in the network and supportive of the medical cannabis industry to promote certain brands of products selected by Namaste
VANCOUVER, BRITISH COLUMBIA–(May 17, 2017) –
Namaste Technologies Inc. (“Namaste” or the “Company“)Â (CSE:N)(CSE:N.CN)(CNSX:N)(FRANKFURT:M5BQ)(OTCQB:NXTTF) is pleased to announce that it has signed a marketing agreement (the “Agreement“) with Peeks Social Ltd. (“Peeks“) (TSX VENTURE:PEEK)(OTCQB:KEEKF) in order to promote Namaste’s product offering as a preferred vendor on its iOS and Android Apps. Namaste and Peeks will work with strong social influencers actively involved in the network and supportive of the medical cannabis industry to promote certain brands of products selected by Namaste. Namaste products will be promoted through these influencers and available for sale on Peeks’ platform. Peeks is a high growth social media platform that appeals to Namaste’s target demographic of consumers.
Agreement Terms
- Peeks will provide a marketing & sales program through multiple social influencers on Peeks
- Peeks will include Namaste within featured categories on Peeks
- Namaste will provide samples to high traffic social influencers in the Peeks platform
- Namaste will participate in Peeks Offer Box Program
- Namaste will set up and operate its own Peeks channels
- Namaste will share the Peeks platform through Namaste’s social media channels
- Namaste will add the Peeks logo to its website (with call-to-action)
- Namaste will set up intro videos on the main Namaste Peeks channels
About Peeks
Peeks is a publicly traded company listed on the TSX Venture Exchange under the symbol “PEEK” and on the OTCQB under the symbol “KEEKF”. Its principal activity is the development of social media and social commerce products and services for use by consumers and businesses, with a focus on mobile (iOS and Android) products. The Peeks head office is located at 184 Front Street East, Suite 701, Toronto, Canada, M5A 4N3.
Management Commentary
Sean Dollinger, President and CEO of Namaste comments: “We are very happy to have signed this agreement with Peeks Social. We have seen an overwhelming response from strong social influencers in the platform that are wanting to get involved with promoting Namaste products. We are working closely with the Peeks management and operations team to build out the Namaste channel and scheduling for promotional videos in the platform.”
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:
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
[email protected]
Namaste Closes Acquisition of Cannmart Inc. $N.ca
Posted by
at 8:45 AM on Wednesday, May 3rd, 2017
- Completed its acquisition of all of the issued and outstanding shares in the capital of Cannmart Inc.
- Acquisition of CannMart represents a strategic decision for Namaste to leverage its strength in e-commerce and logistics in becoming a leader in retail distribution of medical cannabis in Canada
VANCOUVER, BRITISH COLUMBIA–(May 3, 2017) –
Namaste Technologies Inc. (“Namaste” or the “Company) (CSE:N)(CSE:N.CN)(CNSX:N)(CNSX:N.CN)(FRANKFURT:M5BQ)(OTCQB:NXTTF) is pleased to announce that, further to its release of April 24, 2017, the Company has completed its acquisition of all of the issued and outstanding shares in the capital of Cannmart Inc. (“CannMart“), a late stage applicant under the Access to Cannabis for Medical Purposes Regulations.
The acquisition of CannMart represents a strategic decision for Namaste to leverage its strength in e-commerce and logistics in becoming a leader in retail distribution of medical cannabis in Canada. The rationale for the acquisition includes but is not limited to:
- Expansion of Namaste’s product offerings, with the ability to sell both vaporizers and consumables from one location. Namaste aims to be a one-stop-shop for medical cannabis consumers in Canada.
- Namaste’s ability to market and brand medical cannabis products to its 50,000+ dataset of Canadian consumers.
- Namaste launching a Canadian warehouse in the CannMart facility in order to process both vaporizer and medical cannabis shipments, medical cannabis packaging, filling for pod-based vaporizers, and distribution for other brands of medical cannabis products.
- Namaste’s ability to provide same day delivery within the Greater Toronto Area and next day delivery within Canada.
In consideration for its acquisition of CannMart, Namaste made a one-time payment of $50,000 and issued 8,668,515 common shares of the Company to the vendors. An additional 3,467,406 common shares will be issued to the vendors upon satisfaction of certain milestones outlined in the definitive agreement.
In connection with the transaction, Namaste made a one-time payment of $10,000 and issued a total of 1,040,222 common shares in the Company as compensation to Clarus Securities Inc. in exchange for advisory services.
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:
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 harbour 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
Direct: +1 (786) 389 9771
Email: [email protected]
Namaste Announces DTC Eligibility $N.ca
Posted by
at 8:13 AM on Tuesday, April 25th, 2017
- Secured DTC Eligibility by The Depository Trust Company for its shares on the OTCQB Venture Market effective April 21, 2017
VANCOUVER, BRITISH COLUMBIA–(April 25, 2017) – Namaste Technologies Inc. (“Namaste” or the “Company“) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ)(OTCQB:NXTTF) is pleased to announce that it has secured DTC Eligibility by The Depository Trust Company (“DTC“) for its shares on the OTCQB Venture Market (“OTCQB“) effective April 21, 2017. DTC is a subsidiary of The Depository Trust & Clearing Corporation DTCC, and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible”. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors trading the Company’s shares on the OTCQB.
Management Commentary
Mr. Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to have obtained DTC eligibility. This will greatly simplify the process of trading and exchanging our stock in the United States. In the last year, we have developed significant US commercial operations and view being able to trade on the OTCQB as an important aspect of developing a following with US investors. With DTC eligibility, it will be much easier for investors to be part of our growing Company.”
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:
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 harbour 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
[email protected]