Namaste Announces Revocation of Cease Trade Order
Namaste Announces Revocation of Cease Trade Order
– Momentum Public Relations –
Press Release: January 11, 2017
Namaste Technologies Inc. (“Namaste” or the “Company“) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce the revocation of the cease trade order (“CTO“) previously issued by the British Columbia Securities Commission (the “Commission“), and disclosed in the Company’s press release dated January 5, 2017. The Company anticipates trading to resume on the Canadian Securities Exchange in the near term.
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.
Further information on the Company and its products can be accessed through the links below:
- Published in Mining, Namaste Technologies, News Home
Tetra Bio-Pharma Inc. (TBP Enters Into Binding LOI for Co-Development & Commercialization of Health Care Products Containing Cannabinoids
Tetra Bio-Pharma Inc. Enters Into Binding Letter of Intent for Co-Development and Commercialization of Health Care Products Containing Cannabinoids and Closes a Private Placement
– Momentum Public Relations –
Press Release: January 10, 2017
Tetra Bio-Pharma Inc. (“TetraBio“, “TBP“, or the “Company“) (CSE:TBP)(CSE:TBP.CN)(OTC PINK:GROPF) through its subsidiary, Agro-Tek Health Inc. (“GTK“), is pleased to announce that it has entered into a binding letter of intent to form a joint venture with Ford’s Family Pharmacy and Wellness Center (“FFP“) in Moncton, New Brunswick. The primary objective of this venture is the development and commercialization of cannabinoid-based products for the Canadian health care market with a special focus on CBD and THC-free cannabis products for the USA cosmetic and supplement market.
About Tetra Bio-Pharma
Tetra Bio-Pharma, through its subsidiaries, is engaged in the development and commercialization of cannabis-based pharmaceuticals and consumer health products. www.tetrabiopharma.com
About Agro-Tek Health
Agro-Tek Health is a subsidiary of Tetra Bio-Pharma Inc. and is focused on commercialization of over the counter consumer goods containing cannabis and other non-controlled medicinal plants.
About Ford’s Family Pharmacy
Ford’s Family Pharmacy and Wellness Center currently holds a Controlled Substance License from Health Canada for the processing, packaging, and distribution of controlled substances. https://www.fordrx.com
Since 1997, Ford’s Family Pharmacy & Wellness Centre has helped clients improve and prolong their health, wellness, and vitality by providing personalized compounding and wellness solutions. Their team consists of: four pharmacists, 14 pharmacy technicians/assistants and two registered nurses. FFP provides innovative solutions to complex medical problems and works with Canadian healthcare providers (including physicians, veterinarians, and dentists) to create well-rounded, comprehensive natural and compounding treatment plans.
To maximize the benefit of this venture, GTK will establish its health care product development and commercialization activities within the province of New Brunswick. New Brunswick is quickly positioning itself as a desired homebase for companies in the cannabis industry and GTK commends the government of New Brunswick for its assistance in establishing this project.
Dr. Peter Ford, Pharm D will work with GTK to develop cannabinoid-based skin care and wellness products for the Canadian retail markets. This joint venture will allow GTK to develop a portfolio of innovative CBD-based products for patient self-care in addition to CBD and THC-free products for the USA cosmetic and supplement market.
According to Mr. André Rancourt, Chief Executive Officer, “These products will allow GTK to commercialize cannabis-derived products for the Canadian and USA wellness market in preparation for the unveiling of Canada’s new cannabis regulations.”
Dr. Ford will also assist TetraBio with its ongoing NSERC Engage partnership grant with McGill University (see press release from October 19, 2016). Dr. Ford’s expertise will also be used for the development of the PPP001 dried cannabis pellets for upcoming phase 1 clinical trials. “The partnerships with McGill University and Dr. Ford are in line with the Company’s vision to expand its commercial operations focused on the development and sale of cannabis-derived supplements and retail products for the North American market,” commented Mr. Rancourt.
Dr. Guy Chamberland, M.Sc., Ph.D., Chief Science Officer, commented, “Ford’s Family Pharmacy and Wellness Center currently holds a Controlled Substance License from Health Canada for the processing, packaging, and distribution of controlled substances. Working with Dr. Ford will allow TBP to adhere to current regulations relating to controlled substances including cannabis. This resource allows TBP to further its ongoing projects while remaining compliant with Canadian and US narcotics regulations.” He also stated, “Dr. Ford is a renowned expert in wellness and a highly-experienced formulator and this joint venture will help the Company bring cutting edge cannabis-based health and wellness products to patients and consumers in a timely and cost effective manner.”
This project will be funded via current working capital and the previously announced NSREC research grant in collaboration with McGill University.
Closing of Non-brokered Private Placement
The Company is also pleased to announce that, on December 30, 2016, it closed a non-brokered private placement of 2,395,500 units at a price of $0.20 per unit for aggregate gross proceeds of $479,100. Each unit consists of one common share and one non-transferable warrant, with a whole warrant entitling the holder to purchase one common share at a price of $0.26 per share for a period of twelve months expiring December 30, 2017.
The securities issued pursuant to the private placement are subject to a four-month hold period from the closing date and subject to all necessary regulatory approvals, including the approval of the Exchange.
The proceeds of the private placement will be used to pursue commercialization projects in 2017 and increase scientific staff.
In Other News
Tetra Bio-Pharma is also pleased to announce that, effective December 16, 2016, TBP has been added to the Canadian Securities Exchange composite index. The index is comprised of listed companies that meet market capitalization, trading, and seasoning criteria established by the exchange.
The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
- Published in Medical Marijuana, News Home, Tetra Bio Pharma
Namaste Provides Corporate Update and Files Audited 2016 Annual Financials
Namaste Provides Corporate Update and Files Audited 2016 Annual Financials
– Momentum Public Relations –
Press Release: January 6, 2017
VANCOUVER, BRITISH COLUMBIA–(Marketwired – 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{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} 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{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} 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{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} 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{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} compared to 44{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} 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{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}. 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{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} 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:
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 Company‘s 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.
- Published in Blog, Medical Marijuana, Namaste Technologies, News Home
Imex Systems grants options to buy 1.55 million shares
Imex Systems grants options to buy 1.55 million shares
Mr. Michael Frank reports
IMEX ANNOUNCES OPTION GRANT
Imex Systems Inc. has granted a total of 1.55 million options to management, directors and consultants of the company. The options are exercisable at a price of 75 cents per share until Dec. 29, 2019, and vest immediately.
About Imex Systems
Imex Systems is a Canadian software products and solution provider to governments, municipalities and public authorities in Canada and internationally.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Imex Systems, News Home, Technology
King’s Bay Gold Corporation Announces Closing of Private Placement 3.01.17
January 3, 2017 – King’s Bay Gold Corporation (the “Company”) (TSXV: KBG) is pleased to announce that it has completed a non-brokered private placement (the “Financing”) of 12,516,700 units (each, a “Unit”) at a price of $0.075 per Unit for gross proceeds of $938,752.50. Each Unit consists of one common share of the Company and one non-transferable common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one common share (each, a “Warrant Share”) of the Company at a price of $0.12 per Warrant Share for a period of 2 years from the closing of the Financing.
In connection with the Financing, the Company paid cash finder’s fees of $6,600 and issued 33,600 shares and 33,600 share purchase warrants (the “Finder’s Warrants”) to certain finders. The Finder’s Warrants have the same terms as the Warrants.
The Company intends to use the proceeds of the Offering as follows: $100,000 G & A, $90,000 salaries, $100,000 corporate development, $50,000 legal, accounting and regulatory fees, property acquisition costs $100,000, travel and promotion $60,000 unallocated working capital $100,000, and exploration expenditures of $500,000.
All securities issued in connection with the Financing are subject to a statutory hold period expiring four months and one day after the closing of the Financing. Insiders of the Company subscribed for an aggregate of 373,333 Units under the Financing, which is a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The participation of the insider in the private placement was exempt from the valuation and minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in Sections 5.5(a) and 5.7(a) of MI 61-101 in that the fair market value of the consideration of the shares to be issued to the insider did not exceed 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Company’s market capitalization. None of the securities issued in connection with the financing will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there by any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
ON BEHALF OF THE BOARD OF DIRECTORS
King’s Bay Gold Corporation
Kevin Bottomley
President and Chief Executive Officer
Tel: (604) 681-1568 Email: Kevin@kingsbayres.com
For investment inquiries please contact Brad Hoeppner Director Tel: (604) 681-1568 Email: Brad@kingsbayres.com
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in King's Bay, Mining, News Home