Namaste (N:CSE) Approved to Retail Marley Natural Brand Accessories
Namaste Approved to Retail Marley Natural Brand Accessories
– Momentum Public Relations –
Press Release: February 2, 2017
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has been approved by Little Bay, Inc. (“Little Bay”) (a subsidiary of Privateer Holdings Inc.) as a retailer of the Marley Natural™ (“Marley Natural”) accessories product line in the United States. Marley Natural is the official cannabis brand of Bob Marley, one of the most iconic names in the cannabis industry. The brand is deeply rooted in the ideas and legacy of Bob Marley and celebrates nature, justice and the positive potential of the herb. The terms of resale will be governed by a retail agreement between Namaste and Little Bay.
The collection is made from American Black Walnut and accented by heat resistant hand-blown glass that ensures durability, convenient maintenance, and a comfortable hand-held feel. Namaste’s in-house merchandising team has identified the Marley Natural brand as an ideal collection for specific growth markets. Namaste will market the Marley Natural products to its customer list of over 250,000 individuals and through its e-commerce brands including Namaste Vapes, Everyonedoesit and VaporSeller.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to carry the Marley Natural brand, the official cannabis brand of Bob Marley. We also pleased to have entered our first commercial arrangement with one of the Privateer Holdings companies, a leader in the cannabis industry, and look forward to further developing a relationship as both our companies expand.”
About Marley Natural
Marley Natural™ is dedicated to creating uniquely designed accessories and offers an elevated line of smoking products for discerning herb connoisseurs. Balancing intuitive form, with subtle Jamaican-inspired accents, the line caters to a personalized and very sensory approach to the classic ritual of smoking. Marley Natural accessories may only be used with legal smoking herbs and may not be used with tobacco products.
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Directors
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the links below:
- Published in Namaste Technologies, News Home
Namaste (N:CSE) Commences Distribution Through eBay
Namaste Commences Distribution Through eBay
– Momentum Public Relations –
Press Release: February 01, 2017
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N) (CSE:N.CN) (FRANKFURT:M5BQ) is pleased to announce that it has commenced distribution through eBay Inc. (“eBay”), a global commerce leader that connects millions of buyers and sellers around the world. eBay has formally approved Namaste’s marketing templates and products have been listed for sale. As one of a select number of companies in the vaporizers and accessories industry to be permitted to distribute through eBay’s marketplace, Namaste will list its products under the recently launched vaporizers and e-cigarettes category.
Namaste will be required to keep sufficient product inventory on hand in the anticipation of increased demand through eBay’s marketplace and ensure adherence to all applicable category policies. Namaste is currently carrying over $1.5 million of inventory to meet demand from its growing customer base.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to be one of a select number of vape companies to start distribution through eBay, one of the largest online marketplaces in the world. Going forward, we will continue to add additional items to this marketplace and see this platform an excellent means to expand the Namaste brand.”
About eBay Inc.
eBay Inc. is a global commerce leader that includes Marketplace, StubHub and Classifieds platforms. Collectively, the platforms connect millions of buyers and sellers around the world. The technologies and services that power these platforms are designed to enable sellers worldwide to organize and offer their inventory for sale and buyers to find and buy it virtually anytime and anywhere. The Marketplace platforms include the online marketplace located at www.ebay.com, its localized counterparts and the eBay mobile apps; which are among the world’s largest and most vibrant marketplaces for discovering great value and unique selection.
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Directors
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the link below:
- Published in Medical Marijuana, Namaste Technologies, News Home
Namaste (N:CSE) Announces Record Quarterly Revenue for Q1 2017
Namaste (N:CSE) Announces Record Quarterly Revenue for Q1 2017
– Momentum Public Relations –
Press Release: January 30th, 2017
Namaste Technologies Inc. (“Namaste” or the “Company“) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce the filing of its unaudited quarterly financial statements, management’s discussion and analysis, and certification of the quarterly filings for the first quarter of fiscal 2017. The statements for the period can be accessed on SEDAR at www.sedar.com.
The operational and financial highlights for the period include the following:
- Recorded record quarterly revenue of $2,087,188, an increase of 77.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from the first quarter of 2016;
- Generated gross profit of $683,016, an increase of 75.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from the first quarter of 2016;
- Expanded the customer list to over 250,000 individuals producing monthly traffic of approximately 600,000 site visits in November;
- Closed the acquisition of the assets of URT1 Limited, which comprised its Everyonedoesit business (“Everyonedoesit”) and raised approximately $3.5 million of capital; and
- Appointed experienced members to the management team and board.
Financial Results
During the financial reporting period from September 1, 2016 to November 30, 2016, the Company focused efforts on further expanding its traffic and customer base, growing revenues, integrating the asset acquisitions of VaporSeller and Everyonedoesit, and securing capital to expand operations. Because of these focused initiatives, the Company achieved the following financial results:
- Net revenue of $2,087,188 (Q1 2016 – $1,175,341), an increase of 77.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} as compared to the first quarter of 2016. These financial results include net revenues for a 44-day period from the Everyonedoesit asset acquisition, which produced revenue of $316,460. On a gross basis (prior to adjustments for refunds, discounts and charge backs), the revenues for the period were $2,460,738, an increase of $373,550 to net revenues. These adjustments are anticipated to normalize as the Company has now integrated the acquisition of VaporSeller and URT1, which is anticipated to result in a higher net revenue going forward.
- Cost of sales of $1,404,172 (Q1 2016 – $787,008), which resulted in a gross profit of $683,016 (Q1 2016 – $388,333). As a percentage of sales, the gross margin was 32.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} compared to 33.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in the first quarter of 2016. Going forward, the Company is optimizing its product mix to include higher margin glassware, private label products such as the Gurutm and related product accessories, products sourced from larger volume manufacturers, and driving higher average purchase prices from the VaporSeller and URT1 acquisitions.
- Operating costs of $1,580,087 (Q1 2016 – $513,977), an increase of 207.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} as compared to the first quarter of 2016. This increase in operating costs includes non-cash and currency expenses of $71,416. These costs relate to share based compensation and foreign exchange movements in the Company’s source currencies including the British Pound and Euro. In addition, were non-recurring legal expenses of $175,000 related to the URT1 acquisition and financing. After adjusting for these numbers, management estimates total operating costs of $1,333,671 for the period. In addition to these expenditures, the Company has also incurred costs associated with positioning the business for scalability and the administration of its public listing.
- Comprehensive loss of $(897,072) (Q1 2016 – $(125,644)). Going forward, management anticipates sales growth to strengthen from organic revenue generation and completed acquisitions, cost of sales to reduce due to higher volume purchases and optimization of the product portfolio, and operating costs to reduce as a result of normalized operations, which management anticipates to result in profitability and positive cash flow generation in fiscal 2017.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “The first quarter of 2017 represents substantial financial progress. In the first quarter, our team obtained these results while integrating multiple acquisitions and fulfilling orders during some of our most active months. Going forward, we continue to streamline operations, including optimizing our websites, human resources, and distribution networks, and believe our financial results will continue to reflect the value we have created for shareholders.”
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 ecommerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
- Published in Medical Marijuana, Namaste Technologies, News Home
Support the Troops: Invest in Legal Cannabis!
How to Make Money and Save Lives at the Same Time
It’s not just about the money.
I know, this is not typically something you’d expect to read from an investment analyst, so let me explain …
A few years ago, I started writing about investment opportunities in the legal cannabis space. As a result, I was accused by many of compromising my ethics in an attempt to make a quick buck. But nothing could be further from the truth.
Yes, one of the reasons I invest in the cannabis space is because it’s insanely profitable. And I make no apologies for this, nor should any other right-minded capitalist who enjoys the spoils of free markets and the good fortune to create wealth and prosperity.
The truth is, at the moment, there is no greater investment opportunity than legal cannabis. And I have dozens of double- and triple-digit winners in my portfolio to back up this claim. Some of my most profitable cannabis investments right now include a 501{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} gain on Canopy Growth Corporation (TSX: CGC), a 373{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} gain on Aphria, Inc. (TSX-V: APH), and a 567{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} gain on OrganiGram (TSX-V: OGI). And there are plenty more to come, too.
But while few things make me smile more than watching my brokerage account grow, this is not the onlyreason to invest in the legal cannabis market.
Three Reasons to Invest in Legal Cannabis
Aside from the massive profit potential, there are three other reasons you should be investing in legal cannabis right now:
- Legalization helps slow the war on drugs, which has been one of the most violent and costliest wars in recorded history. More than $1 trillion has already been spent on this war, and it’s put millions of folks — particularly the poor — in early graves.
- Legalization helps build local economies, which, in this day and age, is something we need to embrace, not shun.
- Legalization on the medical side allows millions of Americans to treat illness when other “legal” pharmaceuticals have failed. How anyone could look at a young child with severe epilepsy and deny that child a medical cannabis therapy that’s proved to work is beyond me.
Of course, it’s not just kids with epilepsy that have benefited from cannabis.
Support the Troops
Last year, while attending a legal cannabis conference in New York City, I met a man named Sean Kiernan.
Kiernan is the co-founder of a group called Weed for Warriors. It’s an advocacy group that works to provide access to medical cannabis for military veterans suffering from PTSD.
Now, the fact that a military veteran — someone who has risked his or her life for this country — can be denied medicine to treat PTSD is despicable. Especially when you look at some pretty unsettling statistics.
The suicide rate for veterans is extremely high. Every year, about 8,000 veterans commit suicide. That means that since we first invaded Iraq back in 1991, more than 200,000 U.S. veterans have taken their own lives. And understand, this is a group that makes up just 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the U.S. population but represents 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the national suicide rate. And that’s assuming these numbers are accurate — which they are not.
Truth is, this data has only been collected from 21 states and only accounts for the vets who have been seen by the Veterans Affairs Administration. Sadly, those numbers are likely considerably higher. And that’s an absolute travesty. Especially when you consider that many of these deaths could’ve been avoided.
You see, there’s a significant amount of evidence that indicates cannabis can effectively treat the symptoms of PTSD. One study in particular, conducted by the scientific journal Drug Testing and Analysis found that cannabis could “dampen the strength or emotional impact of traumatic memories through synergistic mechanisms that might make it easier for people with PTSD to rest or sleep and to feel less anxious and less involved with flashback memories.”
Of course, to get similar conclusions, one could also simply ask any veteran who uses cannabis to treat the effects of PTSD.
Some do it legally, assuming they live in states where cannabis has been legalized for the treatment of PTSD, and some do it illegally, since the very country that sent them off to war won’t allow them to medicate as they see fit.
Think about that for a moment.
These folks put their lives on the line for us every single day. They’re not paid large sums of money to do this either. These are honorable men and women who not only deserve to be treated with the respect they’ve earned, but also deserve the right to use any medication they choose to keep them safe and healthy.
How any lawmaker in this country could deny a United States veteran medication is beyond me. As far as I’m concerned, this is nothing short of a human rights violation.
Regular People have the Power to do Great Things
Most of us are just regular people.
We’re not billionaires with loads of influence in Washington. We’re not lawmakers, judges, or high-profile celebrities. But that doesn’t mean we can’t do our part to keep our vets healthy and safe.
You see, as investors, collectively, we have an enormous amount of power. Every day, billions of dollars worth of public equities are bought and sold on the open market. And I’m not talking about fancy algorithms created by investment banks and hedge funds. I’m talking about regular, retail investors. Folks that have online trading accounts and are happy with year-end returns of eight to ten percent.
Now imagine if all these investors decided to allocate just one percent of their portfolios to stocks that represent companies that are making it possible for our veterans to get the relief many of them need by providing medical-grade cannabis.
While the U.S. government may not be willing to do right by the very people that protect our democracy, we can override that decision through our collective purchasing power, which will result in strengthening the cannabis industry thereby making it harder and harder for the government to continue its prohibition against something that, quite frankly, never should’ve been prohibited in the first place.
Of course, I’m not suggesting you run out and buy a bunch of random cannabis stocks. Especially those listed in the U.S., which, for the most part, are garbage. Investing in a stock that’s not going to make you any money makes no sense. Particularly because such a stock is likely issued by a company that’s not going to be around very long. And that’s not going to help anyone.
But there are exceptions. Take Innovative Industrial Properties (NYSE: IIPR) for instance. This is a REIT that acquires specialized industrial real estate assets that are used for growing medical-use cannabis and operated by state-licensed growers. Just a few weeks ago, IIPR closed its first transaction with PharmaCann, a cultivator of medical-grade cannabis. This transaction alone guarantees the company an initial base rent of $319,580 per month. That ain’t chump change.
It should also be noted that the company’s executive chairman is the guy who co-founded BioMed Realty Trust, which was sold to Blackstone last year for $8 billion. These guys aren’t amateurs.
Of course, if you’d rather focus on actual cannabis producers, one of your best bets might be with Emblem Corp. (TSX-V: EMC).
While this is a Canadian cannabis producer, management is actively developing advanced cannabis formulations designed to help folks with PTSD. This research alone could prove to be incredibly valuable to other producers in the U.S. that are currently providing cannabis for vets with PTSD.
Here’s the bottom line: As a legal cannabis investor, we can not only make a lot of money, but we can also help facilitate a movement that can help our veterans get the medication they need… a medication that could help these folks live normal lives… a medication that could quite possibly decrease the number of veterans that commit suicide, too.
And that, my friend, is an honorable investment.
Source (Wealth Daily)
- Published in Blog, Medical Marijuana, Namaste Technologies, Tetra Bio Pharma
Namaste (N:CSE) Announces Record Monthly Sales of Over $1.0 Million
Namaste Announces Record Monthly Sales of Over $1.0 Million and 1,308{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Increase in Traffic
– Momentum Public Relations –
Press Release: December 7, 2016
Namaste Technologies Inc. (“Namaste”) (CSE:N) (CSE:N.CN) (FRANKFURT:M5BQ) is pleased to announce that it has achieved record monthly sales and traffic for the month of November. The total unaudited sales amount for November was approximately $1.0 million Canadian and total traffic was 596,453. These results reflect the acquisition of the VaporSeller and Everyonedoesit domains. The breakdown of the revenue and traffic by domain is set forth below:
Domain | Revenue | Percentage | Traffic | Percentage | |||
NamasteVapes | 355,884 | 35.3 | 71,743 | 12.0 | |||
Everyonedoesit | 360,174 | 35.8 | 337,610 | 56.6 | |||
VaporSeller | 290,782 | 28.9 | 187,100 | 31.4 | |||
Total | $ | 1,006,839 | 100.0 | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 596,453 | 100.0 | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
As reflected by these results, the Namaste Vapes domain generated 35.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of revenue from 12.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of total traffic. This disproportionate share of revenue generation is the result of a higher conversion ratio and average purchase amount per order. By applying market leading conversion and upselling techniques to the recently acquired VaporSeller and Everyonedoesit domains, the Company believes it can extract considerable revenue growth from these acquisitions, which underpins the strategic rationale of acquiring these assets. In terms of total traffic, Namaste has increased its total pre-acquisition monthly traffic from 42,353 in July to 596,453 in November, an overall increase of 1,308.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in monthly traffic. The majority of this traffic has been secured using organic traffic generation techniques as opposed to higher cost pay-per-click advertising.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “The results produced in the month of November demonstrate the transactional execution capabilities of Namaste’s management team. As we continue to implement our e-commerce development and acquisition strategies, we see multiple opportunities to further expand our revenue form organic growth and additional consolidation opportunities. In comparison to the spectrum of companies participating in the cannabis cultivation and hardware industry, we believe these results further demonstrate our scale and the value of our business in the context of the current market environment.”
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Directors
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the link below:
- Published in Medical Marijuana, Namaste Technologies, News Home
Namaste Brings PAX 3 to Domestic and International Market
Namaste Brings PAX 3 to Domestic and International Market
– Momentum Public Relations –
Press Release: December 05, 2016
Namaste Technologies Inc. (“Namaste” or “Company”) (CSE:N) (CSE:N.CN) (FRANKFURT:M5BQ) is pleased to announce, alongside PAX Labs, Inc. (“PAX”), the commercialization of the PAX 3 vaporizer, the latest version of PAX’s award winning premium vaporizer that has sold over one million units to date. As the leading e-commerce company in the vaporizers and accessories industry, Namaste will assume an active role in bringing the PAX 3 to market in North America and over 20 countries internationally. The commercialization of the PAX 3 coincides with the upcoming holiday season. It is anticipated the product will be one of Namaste’s best selling during this period and going forward. Namaste will distribute promotional materials on the PAX 3 to its customer list of approximately 250 thousand individuals and will provide full customer support for the product.
The product can be purchased on Namaste’s sites at www.namastevapes.ca/products/pax-3-vaporizer or www.namastevaporizers.com/collections/pax.
Sean Dollinger, President and CEO of Namaste, comments: “As Namaste grows, we are continually building our relationships with best-in-class manufactutuers within the industry. Our expanded relationship with PAX, the manufactutuer of the best selling and one of the most innovioative vaporizers in the world, is teastimant to our increased industry profile. We look forward to further expanding our relationship with PAX and making the PAX 3 a great success for both our companies.”
PAX 3
Representing a milestone evolution for PAX’s flagship product, PAX 3 is a dual-use vaporizer for loose-leaf and concentrate materials. PAX 3 offers rapid selection between three different, easily changed ovens: a full-size oven, a half-pack oven and a new concentrate oven. PAX 3’s new heating system provides double the power of PAX 2, delivering a smooth, consistent vapor in as little as 15 seconds, with instant subsequent vapor delivery. Also, new to PAX 3, haptic feedback indicates when vapor is ready, when the device enters standby mode, and when it’s turned off. This third generation device retains distinctive features of the category defining PAX devices, including an internal accelerometer for energy and material saving features, intuitive gestural control, proprietary lip sensing technology for further flavor optimization, and a full color LED interface to indicate temperature, battery life and more.
PAX 3 is compatible with the PAX Vapor app, enabling consumers to further customize their device. Additional app features available for PAX 3 include dynamic modes: predesigned vapor experiences for distinct occasions that optimize temperature settings, vapor production and LED brightness. PAX 3 is designed with a mirror polished anodized aluminum shell and comes in Black, Gold, Silver and limited edition Rose Gold.
PAX 3 is meticulously engineered with the highest quality materials and components and comes with a 10 year warranty with ongoing customer support and service.
About PAX Labs
PAX Labs is making smoking obsolete. Founded in 2007 by two Stanford graduates, the company is a leader in portable heat-not-burn, vaporization technology. Headquartered in San Francisco, PAX Labs has revolutionized the smoking industry by offering new, heat-non-burn experiences under the PAX and JUUL brands. With technology innovation and product design at the forefront, PAX Labs has sold over one million PAX devices in the loose-leaf vaporizer category and JUUL is the number two selling U.S.-based independent e-cigarette. Drawing on the successful business and technology design of JUUL, PAX Era, a seamless extract pod system for extracts, was introduced in September 2016. PAX and JUUL have received standout reviews from leading media and were both winners of the 2016 iF DESIGN AWARD.
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 ecommerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Directors
Sean Dollinger, Chief Executive Officer
Further information on the Company and its products can be accessed through the link below:
- Published in Namaste Technologies, News Home, Technology
Namaste (N:CSE) Establishes Channel on Peeks Social Commerce Platform
Namaste Establishes Channel on Peeks Social Commerce Platform
– Momentum Public Relations –
Press Release: December 1, 2016
Namaste Technologies Inc. (“Namaste”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has entered an agreement with Keek Inc., the online social commerce company that is monetizing Peeks, an e-commerce enabled platform that allows users to livestream personal interactive e-commerce enabled mobile broadcasts. Namaste has established a channel on the peeks platform and will received exposure to Peek’s global user base of over 75 million registered users in approximately 100 countries.
Pursuant to the terms of the agreement, Peeks shall offer Namaste a premium position within its upcoming discovery channel that will cater towards multiple media partners, user generated content and highlighted e-commerce partners who will be able to monetize their live and archived videos. One of the upcoming discovery channel categories will focus on legalized cannabis and will feature Namaste as a premier e-commerce partner within that channel. Furthermore, Peeks will enlist social influencers that will participate in promoting the purchase of products through the Peeks Offer-Box technology. By simply tapping their screen, viewers inside Peeks can purchase influencer endorsed products provided by Namaste.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to launch on the Peeks platform. We see significant opportunity to generate revenue through this application and plan to work with multiple high-profile influencers to affectively convert Peek’s 75 million registered users into exponential sales growth.”
About Keek Inc.
Keek’s core business is the developing of an online social video platform for both web and mobile with an emphasis on mobile which allows users to upload and share personal videos of themselves or events surrounding them, their self-expression. Keek has developed a global video social network, enabled over the Internet and on mobile devices around the world. Since inception, Keek’s community has grown to over 75 million registered users across 6 global regions including North America, South America, Europe, Middle East, Asia/Oceania, and Africa. Keek has also began an integration of Peeks livestreaming technology. Peeks is described as an e-commerce enabled platform that allows users to livestream personal interactive e-commerce enabled mobile broadcasts.
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Directors
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the link below:
- Published in Namaste Technologies, News Home
Namaste (N:CSE) Approved to Distribute Through eBay
Namaste Approved to Distribute Through eBay
– Momentum Public Relations –
Press Release: November 29, 2016
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has been approved to distribute its products through eBay Inc. (“eBay”), a global commerce leader that connects millions of buyers and sellers around the world. As one of a select number of companies in the vaporizers and accessories industry to be permitted to distribute through eBay’s marketplace, Namaste will list its products under the recently launched vaporizers and e-cigarettes category.
Namaste will be required to keep sufficient product inventory on hand in the anticipation of increased demand through eBay’s marketplace and ensure adherence to all applicable category policies.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to be one of a select few companies in our industry to be permitted to distribute our products through eBay. As a household name, we are also pleased to see the launch of a new product category from eBay to specifically address the growing demand for our products. We anticipate being able to significantly increase sales through the eBay marketplace.”
About eBay Inc.
eBay Inc. is a global commerce leader that includes Marketplace, StubHub and Classifieds platforms. Collectively, the platforms connect millions of buyers and sellers around the world. The technologies and services that power these platforms are designed to enable sellers worldwide to organize and offer their inventory for sale and buyers to find and buy it virtually anytime and anywhere. The Marketplace platforms include the online marketplace located at www.ebay.com, its localized counterparts and the eBay mobile apps; which are among the world’s largest and most vibrant marketplaces for discovering great value and unique selection.
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Directors
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the link below:
- Published in Namaste Technologies, News Home
Namaste (N:CSE) Expands Product Portfolio in Advance of US Elections
Namaste Expands Product Portfolio in Advance of US Elections
– Momentum Public Relations –
Press Release: November 3, 2016
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(FRANKFURT:M5BQ) is pleased to announce that the Company has secured new agreements with manufacturers of indoor growing equipment. These product lines will be added to Namaste’s e-commerce portals and complement the Company’s existing portfolio of vaporizers, pipes, papers and other accessories. This new product portfolio also represents a further monetization of Namaste’s customer list of approximately 250 thousand names.
US Elections
Currently, cannabis is legal for medical use in 25 states and recreational use in four states. Next week, the US will have three states voting on the legalization of medical use (Florida, Arkansas, and North Dakota) and five states voting on the legalization of recreational use of cannabis (California, Massachusetts, Arizona, Nevada, and Maine). Should all five states vote in favor of recreational marijuana, the US could have upwards of 75 million people living in states where the recreational consumption of cannabis will be legal. This represents approximately 23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the total US population and is anticipated to advance the potential for legalization in additional states. In the US, support for the legalization of cannabis reached an all-time high of 57{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in favor. Namaste’s product portfolio is ideally positioned to capitalize on these potential developments in the US.
Agreement Details
Namaste has entered into agreements with Gorilla Grow Tent Inc., SuperCloset Inc. and Kind LED Grow Lights, all leading manufacturers of the most advanced growing equipment available on the market. Namaste will initially market each of the manufacturers’ products in the US and Canada, and will receive wholesale rates on product sales. It is anticipated after the initial launch, Namaste will launch each of these brands into the twenty international markets Nasmaste currently serves.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “The markets for our current and new products are expanding considerably. With the acquisition of VaporSeller and URT1, we have given ourselves a substantial position in the US market which now represents 74{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of our customer base. We view the upcoming election in the US as a key catalyst for our company and will continue to focus our efforts on expanding our brands in the US, which is the largest market for our products globally.”
About Gorilla Grow Tent Inc.
Gorilla Grow Tents are professionally designed grow tents that are ideal for experts and perfect for beginners and set the standard for quality and durability. Each grow tent is built with stable reinforced materials and are the strongest and safest materials available. Gorilla Grow tents have no plastic and feature a proprietary diamond reflection technology for best yield. Gorilla Grow Tents also feature a patent pending adjustable height extension kit that gives you the ability to increase your growing height from 7′ to 8′ or even 9′ tall.
About SuperCloset Inc.
Founded by Kip Anderson in 2002, SuperCloset, also known as SuperPonics, is accredited by the Better Business Bureau and maintains a perfect A+ rating, surpassing any other company in the hydroponics industry. SuperCloset is known as the leading manufacturer of Automated Superponics Systems and Grow Boxes in the world. Based in beautiful San Francisco, California, the company is in the perfect environment for combining innovative and imaginative ideologies with progressive methods of harvesting local, sustainable and organic products.
About Kind LED Grow Lights
Kind LED Grow Lights are the industry leader in indoor LED grow lights. Kind LED consulted with hundreds of professional hydroponic and soil growers to rigorously research and develop their cutting edge LED indoor grow light technology that has since revolutionized the indoor growing industry. Kind LED is widely considered the best indoor LED grow light on the market today. Kind LED Grow Lights are comprised of high powered 5 and/or 3 Watt Light Emitting Diodes featuring a proprietary intensified 12 band spectrum, including infrared and UV diodes designed for both vegetative and flowering stages of growth.
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.
- Published in Namaste Technologies, News Home
Namaste (N:CSE) Closes Acquisition of URT1
Namaste (N:CSE) Closes Acquisition of URT1
– Momentum Public Relations –
Press Release: October 18, 2016
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(FRANKFURT:M5BQ) is pleased to announce that the Company has closed its acquisition of certain assets of URT1 Limited and it’s wholly owned US subsidiaries (collectively referred to as “URT1”). With completion of this acquisition, Namaste is now the world’s largest e-commerce company focused on sale of vaporizers and accessories. The acquisition of URT1 significantly increases Namaste’s revenue and gross profit on a proforma basis and re-affirms the Company’s role as the industry’s principal consolidator.
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.
Terms of the Transaction
Pursuant to the terms of the Definitive Asset Purchase Agreement announced on September 15, 2016, Namaste has acquired all the website domains, the customer list of over 40,000 individuals, the EDIT Collection of smoking accessories, direct relationships with over 190 vendors, intellectual property and related technologies. The purchase price was calculated as one-times the 12-month trailing gross revenue of URT1, subject to adjustments for inventory, wind down costs, and assumed liabilities. The assumed liabilities include a secured note of approximately C$500,000 for 4 years at an interest rate of 4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} payable in equal annual installments. Upon closing of the transaction, the Company has provided an initial 80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the purchase price to URT1 of the estimated cash wind down costs and 13,771,933 common shares. The Company will make an adjustment to the purchase price in 45 days, subject to the actual wind down costs realized by URT1. Any additional consideration to URT1 will either be provided in cash or common shares of the Company at a 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} discount to the 10 day volume weighted average trading price of the common shares of the Company on the Canadian Securities Exchange.
Liberty North Capital Corp. acted as an advisor to URT1 in connection with the transaction.
Management and Board Appointments
Philip van den Berg has been appointed as Chief Financial Officer, Corporate Secretary and Director and Kiran Sidhu has been appointed as an Independent Director, subject to the approval of the Canadian Securities Exchange.
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 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.
Sidney Himmel has resigned as Chairman of the Company and will remain with the Company as an advisor on accounting and corporate finance related activities. Darren Collins will remain with the Company as Executive Vice President, Corporate Development.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “The acquisition of URT1 represents our second major acquisition since taking the Company public in March of this year and positions Namaste as the largest e-commerce company focused on the sale of vaporizers and accessories globally. In combination with our recently completed capital raise, Namaste is poised for significant organic growth and will continue to seek strategic acquisition opportunities. I would like to thank all those individuals involved in bringing this transaction together. I would also like to personally thank Sidney and Darren for their contribution to the company and look forward to continuing to work with them both in their new roles.”
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:
- Published in Namaste Technologies, News Home
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