Namaste Announces (N:CSE) Two New Partnerships
Namaste Announces New Partnerships With Sneaky Pete and VaporTownUSA
– Momentum Public Relations –
Press Release: October 4th, 2016
Namaste Technologies Inc. (“Namaste” or “Company) (CSE:N)(FRANKFURT:M5BQ) is pleased to report that it has entered into two new strategic partnerships to expand its market presence as the leading e-commerce company focused on vaporizers and accessories. The partnerships are with well-known online reviewer Sneaky Pete (SPV Enterprises LLC) and VaporTownUSA.com. Both these 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. Additional information can be accessed on each of the entities at www.sneakypetestore.com and www.vaportownusa.com.
Sneaky Pete is a leading source of information for cannabis consumers that has generated hundreds of thousands of YouTube views. Sneaky Pete’s professional quality reviews focus on the latest vaporizer products and are often a first place of reference for product consumers. Sneaky Pete’s videos drive traffic to Sneaky Pete’s online store as well as affiliate traffic to Namaste. Under this new partnership, Namaste will manage all credit card processing, logistics and inventory fulfillment. SPV Enterprises will be compensated based on Namaste’s drop shipping price platform. Namaste has already begun the integration of Sneaky Pete’s online store and expects a live launch on or about October 10, 2016. Namaste will utilize its e-commerce resources to enhance video rankings and conversion rates for Sneaky Pete’s Youtube channel and retail store.
VaporTownUSA.com is an existing online retail site for vaporizers and accessories. Namaste will be managing sales, customer service and logistics for VaportownUSA.com and net profits will be shared between VaporTownUSA.com management and Namaste equally. Through this relationship, Namaste plans to expand VaporTownUSA’s product offering and increase sales by utilizing search engine optimization and inbound marketing techniques. VaporTownUSA generated approximately C$200,000 of revenues in 2015
Management Commentary
Mr. Sean Dollinger, President and CEO of Namaste, comments: “These new partnerships with Sneaky Pete and VaporTownUSA represent our company’s strategy to build and nurture strategic relationships within our industry through exposure to new sales channels and growth through online retail consolidation. We have always been strong supporters of Sneaky Pete and are very proud to have him on as a part of our team. Likewise, the partnership and integration of VaporTownUSA represents another aspect of our strategy in operating existing retail sites. Namaste continues to pursue multiple additional partnerships of this nature.”
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 ecommerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Directors
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the link below:
- Published in Namaste Technologies, News Home
Namaste (N:CSE) Signs Definitive Agreement to Acquire URT1 Limited and Forms World’s Largest E-Commerce B2C Vaporizer Company
Namaste Signs Definitive Agreement to Acquire URT1 Limited and Forms World’s Largest E-Commerce B2C Vaporizer Company
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 15, 2016) –
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(FRANKFURT:M5BQ) reports that it has entered into a Definitive Asset Purchase Agreement (the “Agreement”) with URT1 Limited and its wholly owned US subsidiaries (collectively referred to as “URT1”) to create the world’s largest e-commerce company focused on sales of vaporizers and accessories. This most recent acquisition, in combination with the acquisition of VaporSeller, reiterates Namaste’s strategic position as the leading consolidator of the industry.
URT1 is one of the top 5 domains in the world for the sale of vaporizers, pipes and accessories. The company operates two websites, www.everyonedoesit.com and www.everyonedoesit.co.uk, and retails through select third-party marketplaces. Unaudited 12 month trailing revenues were approximately C$3.2 million for the period ended August 31, 2016 with a gross profit margin of 53{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}. URT1 has been in business since 2000.
Strategic Rationale
The strategic rationale for the transaction includes:
- The acquisition positions Namaste as the largest business to consumer e-commerce retailer of vaporizers and accessories globally, with 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. The combined company will operate 26 websites in 20 countries with distribution centers in North America, South America, Europe and Asia Pacific.
- The combined company will have over 3,000 products for sale; the largest product offering of any company in the industry. The complementary product offerings of both companies creates significant revenue expansion potential through cross selling across all sites. In addition, Namaste will utilize its proven search engine optimization strategies to enhance site traffic, conversions and average selling prices of URT1. URT1 currently converts its traffic at 0.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in the US compared to Namaste at 2.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}. Improving URT1’s conversion rate to 1.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} would double the revenue of the site, which currently generates 75{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of URT1’s revenues.
- The higher gross margins of URT1 are beneficial to the gross margins of the combined entity. The opportunity to further improve the gross margin will result from increased buying power with the existing vendor base and focus on private label sales. The combined entity will generate a gross profit margin of over 40{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}.
- Further profit contribution is expected from the reduction in overhead costs, which will enhance earnings before interest, depreciation and amortization. This is due to a shared technology and e-commerce platform, lean centralised management team, and outsourcing of staff functions to India. The resulting increased cash flow generation creates a financial platform for further industry consolidation.
- Following from the acquisitions of VaporSeller and URT1, revenues for the fiscal year ending August 31, 2017 are expected to be C$15.7 million and C$24.9 million for the fiscal year ending August 31, 2018. It is expected that the company will generate positive earnings before interest, depreciation and amortization by December 31, 2016. It is anticipated that Namaste’s revenues will increase in line with projected growth for the industry of 35{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} per year for the period 2014 – 2020 (Source: Wells Fargo Research).
- The transaction broadens the management and board profile of the Company with the addition of experienced executives with extensive global industry expertise. Namaste will benefit from decades of financial, accounting, and administrative experience, and deep relationships with product vendors that URT1 has cultivated since 2000.
Terms of the Transaction and Conditions to Closing
Pursuant to the terms of the Agreement, Namaste will acquire all the website domains, the customer list of over 40,000 individuals, the vendor list of over 197 vendors, intellectual property and related technologies, in exchange for common shares of Namaste. The purchase price will be calculated as one-times the 12-month trailing gross revenue of URT1, subject to adjustments for inventory, wind down costs, and assumed liabilities including a secured note of approximately C$500,000 to be transferred at closing of the transaction. The purchase price will be funded by issuing Namaste common shares at a deemed value of C$0.12.
Closing of the transaction is subject to the following:
- Receipt of all director and requisite regulatory approvals relating to the transaction, including without limitation, CSE approval if required;
- Completion of all financial and legal due diligence; and
- Completion of a minimum capital raise of C$1,500,000 on satisfactory terms to both parties.
Liberty North Capital Corporation is acting as an advisor to URT1 in connection with the transaction.
Management and Board Appointment
Upon completion of the transaction, Philip van den Berg will be appointed as Chief Financial Officer and Director, Kiran Sidhu will be appointed as an Independent Director and Cameron Guerrero will join as Executive Director, Merchandising and Global Operations.
Philip van den Berg graduated cum laude in economics in 1985 at the University of Amsterdam. After graduating, Mr. van den Berg joined Pierson, Heldring & Pierson in the Netherlands as investment analyst. Most of his experience on the sell side was with Goldman Sachs in London where he joined when its European equities division was established in 1987. In 1995 Philip went to Deutsche Morgan Grenfell to participate in re-establishing its European equities division. During his career on the sell-side, he held various positions within research departments as investment analyst, supervisory analyst, member of the investment policy committee and head of research. In 1997 Philip moved to the buy-side as co-founder of Olympus Capital Management, one of the first European hedge funds (long short equity). In 2006 Philip co-founded Taler Asset Management, a wealth management company based in Gibraltar. Currently Philip is a non-executive director at Taler. Since 2014 Philip has been an active investor in various start-up companies in Europe and the US where he has held positions as director and CFO, including Golden Leaf Holding (CSE:GLH) and URT1. He has implemented corporate governance and administrative systems, has been involved in a number of capital market transactions, oversaw a public listing and has been involved in mergers and acquisitions.
Kiran Sidhu graduated with and A.B. honors in computer science in 1985 from Brown University and an MBA in Finance from the Wharton School of Business in 1987. Mr. Sidhu was a manager with Price Waterhouse’s strategic consulting group in Los Angeles and a senior associate with Merrill Lynch Capital Markets in mergers and acquisitions in New York. Mr. Sidhu served as CFO of On Stage Entertainment and oversaw its initial public offering on NASDAQ. On Stage was subsequently sold to McCown De Leeuw & Co. Mr. Sidhu was a founder and the finance director of Nano Universe PLC where he oversaw its listing on the LSE-AIM. In 2003 he built Aspen Communication located in New Delhi, India into an outsourcing company skilled in e-commerce fraud detection, accounting, customer and systems support and data analytics to large customers included Party Gaming (LSE:PRTY). Mr. Sidhu currently serves as CEO of URT1.
Cameron Guerrero has over 14 years of retail e-commerce and IT experience. He has worked for several technology and e-commerce companies, including 10 years at Fortune 500 ranked Zappos.com. Throughout his career, he has gained experience in several core e-commerce functions, including warehouse operations, purchasing, systems configuration and training, site merchandising, marketing, and customer service. As Buying Manager at Zappos.com, he managed a buying team with portfolios totaling US$25 million and received several awards for achieving millions of dollars in incremental sales growth. Throughout his career, he has successfully led international and domestic teams on large scale systems integrations including the integration between Zappos.com and parent company Amazon.com. Currently, Mr. Guerrero leads the operations of URT1, as Director, Merchandising and Global Operations.
Darren Collins will remain with the Company as Executive Vice President, Corporate Development.
Management Commentary
Mr. Sean Dollinger, President and CEO of Namaste, comments: “The acquisition of URT1 represents the realization of our objective to become the largest business to consumer e-commerce company focused on vaporizers and accessories. This transaction also further solidifies our position as the leading consolidator of the industry, provides a scalable and profitable platform for further consolidation, brings new product lines to our company, and strengthens our board and management team. I would like to thank all those individuals responsible for bringing this transaction together and look forward to working with the management of URT1.”
About URT1
Founded in 2000, URT1 Limited is one of the longest standing and best known online retailers of vaporizers, pipes and accessories in the UK. The company operates the web portals www.everyonedoesit.com and www.everyonedoesit.co.uk and carries over 2,500 products, including the latest vaporizers, pens, water pipes and an extensive line of accessories, which is one of the largest product selections available in the industry.
About Liberty North Capital Corporation
Liberty North Capital Corp. (“Liberty North”) is a transaction oriented, private investment banking firm, with offices in Toronto and Montreal. Established in response to the demand for high quality banking, merger and acquisition, and advisory services for small cap companies, Liberty North offers hands-on investment banking experience emphasizing practical and innovative solutions necessary to complete transactions in today’s sophisticated financial markets. Liberty North is also an Exempt Market Dealer registered in the provinces of Ontario and Quebec.
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.
- Published in Life Sciences, Namaste Technologies, News Home, Technology
Namaste Technologies (N:CSE) #1 Vaporizer Distributor in Europe
#1 Vaporizer Distributor in Europe, $5.8M USD of Revenue Run Rate
Original Featured: Agoracom/NamasteForum
Posted: September 14, 2016
Why Namaste Technologies?
- #1 vaporizer distributor in Europe
- $5.8M USD of revenue run rate
- Proprietary products launched
- Perfect market timing for expansion
The Namaste Advantage
- International ecommerce distribution
- 30+ International based portals
- 10 Languages
- Proprietary vaporizer products
- Targeting organic growth at 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} per year
- Sourcing accretive M & A transactions
Huge Market Drivers
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
Vapes Gone Viral
Significant Industry Growth Forecasted
Distribution in 20 Countries
Stock Chart
- Published in Blog, Namaste Technologies, Technology
Namaste (N:CSE) Closes $129,000 Final Tranche of Financing
Namaste (N:CSE) Closes Final Tranche of Private Placement
– Momentum Public Relations –
Press Release: September 12, 2016
Namaste Technologies Inc. (“Namaste” or the “Company“) (N:CSE)(FRANKFURT:M5BQ) reports that it has closed the final tranche of its non-brokered private placement by issuing 1,075,000 units (“Units“) of the Company for gross proceeds of $129,000. 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.
In combination with the convertible note announced by the Company on September 7, 2016 and the first tranche closing of the non-brokered private placement, the Company has now secured a total of $1,489,000 to fund the acquisition of VaporSeller, inventory expansion and general corporate purposes.
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:
- Published in Namaste Technologies, News Home, Technology
Namaste Technologies (N:CSE) arranges $400,000 note financing
Namaste (N:CSE) Announces Convertible Note Financing
– Momentum Public Relations –
Press Release: September 7, 2016
Namaste Technologies Inc. (“Namaste” or the “Company”) (N:CSE)(FRANKFURT:M5BQ) reports that it has issued a convertible unsecured note (the “Note”) to an arm’s length lender (the “Lender”) for an aggregate principal amount of $400,000 in accordance with the terms of a subscription agreement.
The term of the Note is for an initial 90 days with an option to extend for up to 2 years. The Company will issue the Lender an initial 100,000 common shares of the Company and an additional 100,000 common shares of the Company for each 90 days the Note is outstanding. The Note is redeemable at any time during the initial 90 day term by making a payment equal to the principal amount of the Note. If the Company elects to exercise the extension option, the Lender will be issued an additional 550,000 common shares of the Company and the note shall be redeemable at a ten-percent (10{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) premium to the principal amount of the Note. At the option of the Lender, the principal amount of the Note is convertible into common shares of the Company at a conversion price of $0.15 per common share. All common shares issued pursuant to the Note shall have a four month plus one day hold period. The proceeds will be used by the Company for the purposes of inventory expansion, commercialization of new products, and general corporate purposes.
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:
- Published in Namaste Technologies, News Home, Technology
Namaste (N:CSE) Increases Site Traffic by 531 From April to July
Namaste (N:CSE) Increases Site Traffic by 531{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} From April to July
– Momentum Public Relations –
Press Release: August 17, 2016
Namaste Technologies Inc. (CSE:N)(OTC PINK:NXTTF)(FRANKFURT:M5BQ) (“Namaste” or the “Company”) has increased its site traffic from 42,353 in April to 267,144 in July, an increase of 531{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} as a result of the acquisition of Vaporseller and enhanced digital marketing strategies. Based on this current trajectory, Namaste is on track to achieve its near term goal of becoming the largest retail e-commerce company focused on the international distribution of vaporizers and accessories through selective acquisitions and organic growth.
Sean Dollinger, President and CEO of Namaste, comments: “Almost exactly one year ago, we started the process of transforming Namaste into a public company with the objective of utilizing our ecommerce, engineering and financial skills to capture significant vaporizer market share. With our acquisition of Vaporseller and our investment in technology, the Company is now in position to become the leading industry consolidator. I am also happy to report that our TSX Venture Exchange listing application is being submitted to the exchange within the coming weeks.”
E-Commerce
Namaste’s core e-commerce business has been growing steadily and the Company has invested significant resources into improving the domain authority index of its flagship UK websites. As a result, domain authority has increased from 21 to 41, which now places Namaste in the top decile of all vaporizer sites globally based on this important metric. Domain authority is a score (on a 100-point logarithmic scale) developed by Moz, an internationally recognized authority on search engine optimization (“SEO”), that predicts how well a website will rank on search engines.
In addition to improving SEO, Namaste has also completed and launched VASTrader, a marketplace for the trading of previously owned vaporizers, and launched the Groovy Vapes application, an interactive application for the purchasing of vaporizers available in the Google Play and Apple stores. The VASTrader site can be accessed at www.VASTrader.com and the Groovy Vapes application is available on both Apple and Android mobile devices. In this emerging industry, research suggests vape owners own more than one unit over their lifetime, and the trading site facilitates gathering key data points on market activity, while also generating traffic back to Namaste owned domains and keeping brands at the top of mind for all consumers.
TSX Venture Application
Due to investor and advisor feedback, Namaste has been working with legal counsel to prepare and submit a listing application to the TSX Venture Exchange with the objective of listing the Company’s common shares for trading on the exchange. The listing application is near complete and will be submitted in the coming weeks. The listing application will be subject to the review and approval of the TSX Venture Exchange and the Company will update the market on its progress in due course.
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 links below:
- Published in Bio technology, Life Sciences, Namaste Technologies, News Home, Technology
Namaste Technologies (N:CSE) Announces Third Quarter Financial Results
Namaste Technologies (N:CSE) Announces Third Quarter Financials Results
– Momentum Public Relations –
Press Release: August 3, 2016
Namaste Technologies Inc. (CSE:N)(OTC PINK:NXTTF)(FRANKFURT:M5BQ) (“Namaste” or the “Company”) has reported financial results for the third quarter and nine month period, each ending May 31, 2016. The financial statements and management discussion & analysis for the period can be accessed on SEDAR at www.sedar.com.
During the quarter, the Company focused efforts on transitioning from pay-per-click advertising to inbound organic e-commence growth strategies, which generated Q3 2016 e-commerce revenue of $738,199 and gross profit was $353,361, representing a 47.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} gross profit margin. For the nine month period, revenue was $2,611,871 and gross profit was $1,058,154, representing a 40.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} gross profit margin. For the 2015 fiscal year, the comparable Q3 revenue was $1,087,256 and the comparable revenue for the nine month period was $3,471,420.
Looking forward to the last quarter of 2016 and first half of 2017, the Company anticipates revenue and gross profit to increase significantly due to further traction with its current inbound e-commerce market initiatives, commercialization of the Gurutm, acquisition of VaporSeller, and seasonal increase of sales activities during Black Friday, Cyber Monday and the holiday season.
Third Quarter Financial Highlights
- Revenue of $738,199 represents a 32.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} decline over Q3 2015 and sequential increase of 5.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} over Q2 2016. The variance in revenue is indicative of the Company’s transition from expensive pay-per-click advertising to inbound organic e-commence growth strategies which should result in stable revenue performance and decreased advertising spending.
- Gross profit of $353,361 represents a 47.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} gross profit margin for Q3 2016 versus 42.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} for Q3 2015. While gross profit declined versus Q3 2015 by 23.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, gross profit sequentially increased by 11.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} compared to Q2 2016 and gross profit margin improved from 45.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to 47.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}. The sequential improvement in margin is indicative of the Company’s increased focus on price controls and more favorable terms from manufacturers.
- Operating costs of $716,855 represent a 97{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} increase over Q3 2015 and a 19.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} sequential decrease over Q2 2016. The majority of the increase in operating costs compared to Q3 2015 is due to nonrecurring costs associated with taking the Company public and share-based compensation.
- Pre-tax loss of $363,494 is reflective of the increased operating costs during the period, being primarily due to listing costs and share-based compensation.
Third Quarter Operational Highlights
- Transitioned from pay-per-click advertising to inbound organic e-commence growth strategies focused on domain authority, best-in-class natural rankings, trust of brand growth, client population expansion, and sales conversion optimization. Organic inbound marketing increases the recurring nature of sales and places less dependence of major search engines.
- Maintained #1 brand trust ranking in the vaporizer space, as ranked by Trust Pilot, and achieved approximately a 3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} conversion ratio over the period.
- Entered binding letter of intent for the acquisition of VaporSeller, an e-commerce platform for the distribution of vaporizers and accessories with an unaudited revenue of US$3.4 million in 2015. Subsequent to the quarter ended May 31, 2016, the Company closed the acquisition on July 15, 2016.
- Placed commercial order qualities for the Gurutm, the Company’s first proprietary vaporizer capable of seamlessly vaporizing dry herbs, concentrates and liquids.
Mr. Sean Dollinger, President and CEO of Namaste, comments: “The first nine months of the Company’s fiscal 2016 has been transformational. When I reflect back at the accomplishments of our team over this period, including taking our company public, completing our first external capital raises, securing our first acquisition and implementing long term and sustainable e-commerce marketing strategies, my personal sense of optimism and excitement for the future of Namaste is confirmed. As always, I would like to thank all the stakeholders of Namaste for their support as we continue to move forward with our objective of creating the leading international vaporizer and accessories company globally.”
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 Director
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the link below:
- Published in Bio technology, Life Sciences, Namaste Technologies, News Home, Technology
Namaste Closes Acquisition of VaporSeller
Namaste Closes Aquisition of VaporSeller
– Momentum Public Relations –
Press Release: June 7, 2016
Namaste Technologies Inc. (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:
- Increases annualized run rate revenue by approximately 142{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to US$5.8 million;
- Expands customer list by over 150,000 names;
- Adds new manufacturer relationships and products that will be sold though VaporSeller as well as Namaste’s retail and wholesale division; and
- Provides strategic entrance into the US market.
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
Learn more by clicking here: www.namastetechnologies.com
- Published in Life Sciences, Namaste Technologies, News Home
Namaste Ranked as #1 E-Commerce Vaporizer Portal Globally
Namaste Ranked as #1 E-Commerce Vaporizer Portal Globally
– Momentum Public Relations –
Press Release: June 28, 2016
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(OTC PINK:NXTTF)(FRANKFURT:M5BQ), a leading international vaporizers and accessories e-commerce company based on customer trustworthiness and service quality, reports on recent positive developments relating to its e-commerce and manufacturing divisions. The following are the unique strategic attributes of the Company:
- An international leader in the e-commerce sale of vaporizers and accessories with sales in over 20 countries. Namaste is the only publicly listed Canadian vaporizer investment opportunity focused on addressing medical and recreational herb consumers;
- Current revenue run rate of approximately US$2.4 million and experiencing organic revenue growth in current sales of 6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} monthly (100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} annual). After the previously announced acquisition of VaporSeller, Namaste will expand run rate revenue from US$2.4 million to US$5.8 million and seeks to increase sales by the same organic growth rate of 6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} monthly, while generating breakeven to positive cash flows; and
- Combining an excellent array of management skillsets with expertise in e-commerce, product development and engineering and corporate finance.
Under the leadership of Sean Dollinger, an e-commerce expert and President and CEO of Namaste, the Company has had its ranking as the number one ranked e-commerce portal for the sale of vaporizers and accessories re-confirmed by Trustpilot. Namaste has maintained its 9.8 out of a maximum possible score of 10. This score independently ranks Namaste’s e-commerce customer trustworthiness and service quality as the highest ranking in the world for vaporizer distributors. This score also places Namaste in the top 0.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the world’s e-commerce sites for trustworthiness and service. Trustpilot is an independent rating company that reports customer experiences with e-commerce companies.
Further to the Company’s press release on May 30, 2016 and under the direction of Kory Zelickson, an experienced electrical engineer and Chief Operating Officer of Namaste, the Grizzly Guru, a handheld portable vaporizer that provides a seamless solution for vaporizing dry herbs, concentrates and liquids, has been gaining significant sales momentum in the first month of commercial availability. This is the first product designed and manufactured by Namaste. The Company has now sold over 300 units through retail and wholesale channels and continues to increase production rates in order to meet demand. Based on market feedback, the Company anticipates continued success in terms of expanding sales of these high margin products and will continue pursue other unique product concepts for commercialization. The Grizzly Guru can be purchased at www.grizzlyoriginals.com.
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
Learn more by clicking here: www.namastetechnologies.com
- Published in Life Sciences, Namaste Technologies, News Home
Namaste Signs Definitive Agreement for Acquisition of VaporSeller and Announces Private Placement
Namaste Signs Definitive Agreement for Acquisition of VaporSeller and Announces Private Placement
– Momentum Public Relations –
Press Release: June 7, 2016
Namaste Technologies Inc. (CSE:N)(FRANKFURT:M5BQ) reports that further to its announcement on April 14, 2016, the Company has signed an Asset Purchase Agreement (the “Agreement”) dated June 7, 2016 with Haze Industries Inc. for the acquisition of certain assets relating to VaporSeller (the “Transaction”), an e-commerce platform for the distribution of vaporizers and accessories that is focused on the US market and generated an unaudited revenue of $3.4 million in 2015.
Pursuant to the terms of the Agreement, Namaste’s U.S. subsidiary will acquire all the website domains, customer list of over 150,000 individuals, intellectual property and goodwill, and related support services associated with VaporSeller, in exchange for US$500,000 of cash on closing, 5 million shares of the Company and an earn-out of US$1.5 million over 3-years, subject to revenue, margin and operational controls. The Agreement supersedes and replaces the Binding Letter of Intent entered into between the parties. The Company anticipates closing the Transaction on or about June 30, 2016, subject to the receipt of all director and regulatory approvals including approval of the Canadian Securities Exchange if required.
In addition to signing the Agreement, Namaste announces that it has arranged, subject to the acceptance of the Canadian Securities Exchange, a non-broker private placement of a minimum of 8.5 million units to a maximum of 12.5 million units (the “Units”) of the Company at a price of $0.12 per Unit for total gross proceeds of approxamely $1.0 to $1.5 million (the “Offering”). The Company also reserves the option, exercisable at any time up to and including the closing date, to increase the total size of the Offering by up to 15{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the number of Units. Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable to acquire one common share at a price of $0.18 for a period of 24-months. All securities issued in connection with the Offering will have a hold period of four months plus one day from the closing date of the Offering.
Upon closing of the Offering, the net proceeds from the Offering will be used to fund cash closing costs associated with the Transaction, inventory expansion and general working capital purposes.
Finder’s fees comprised of 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cash and 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} non-transferable share purchase warrants may be paid in connection with the Offering. Any finders’ fees will be payable in accordance with the policies of the Canadian Securities Exchange. Management anticipates the Offering will close on or about June 24, 2016.
Mr. Sean Dollinger, President and CEO of Namaste, comments: “The signing of the definitive agreements for the acquisition of VaporSeller represents a significant step forward in terms of the completion of this transaction. As the first of multiple opportunities we have identified to expand through acquisition, our management team is high focused on ensuring an efficient and effective execution of this transaction as well as a seamless integration of our current platform and VaporSeller. We look forward to continuing to work with the team from Haze to accomplish these objectives.”
About Haze Industries Inc.
Haze Industries, Inc., a privately owned entity, was founded in 2010 and has quickly become a thought-leader in the vaporizer industry. Based in Atlanta, Georgia, Haze operates sales and distribution channels in the industry, including VaporSeller, one of the leading online sales platforms in the United States, focused on the best-selling brands sourced from leading US and international manufacturers. Haze is comprised of industry experts with backgrounds in business management, design and manufacturing, computer programming, e-commerce, and US sales, distribution and fulfillment.
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
Learn more by clicking here: www.namastetechnologies.com
- Published in Life Sciences, Namaste Technologies, News Home