Namaste Signs Exclusive Distribution Agreement for Nimbin Products
Namaste Signs Exclusive Distribution Agreement for Nimbin Products
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 7, 2017) – Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(CSE.N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has entered an exclusive distribution agreement (the “Agreement”) with NimbinVap Company (“NimbinVap”) for the international and domestic sale of the Nimbin line of vaporizers and accessories. This Agreement represents one of multiple exclusive agreements the Company intends to pursue and is testament to the unique distribution network and level of service the Company is known for delivering.
Nimbin Line of Products
The Nimbin V4.3 is a multi-tool portable device. The Nimbin V4.3 operates in eight different functions, including vaporizer mode, pipe mode, water pipe mode, hooka mode, joint holder and chillum mode. The Nimbin V4.3 is a great addition to any vaporizer collection and is available at an attractive price point compared to other vaporizers offering much less functionality. The Nimbin V4.3 is also unique in that it is not battery but flame operated. As part of its marketing strategy for NimbinVap, Namaste carries the Nimbin full experience package, which includes the Nimbin V4.3 vaporizer with a host of accessories.
Term of the Agreement
Pursuant to the term of the Agreement, NimbinVap has provided Namaste exclusivity over the sale of the Nimbin line of products. The exclusivity shall apply to all countries outside Mexico. In exchange for exclusivity, Namaste has committed to use reasonable commercial efforts to build the Nimbin brand and will provide support in terms of managing advertising, shipping, customer service and support, and warranty and return functions.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to be working with NimbinVap to bring their products to market. The Nimbin V4.3 is one of the sleekest and most versatile portable devices on the market. The product has historically been a strong selling product for Namaste. Our merchandising team will continue to expand our business through exclusive distribution rights and will be attending the upcoming Champs Show in Las Vegas, where we will be meeting with multiple manufacturers to discuss similar arrangements.”
About NimbinVap Company
NimbinVap Company was founded by industry veterans with collectively over 25 years of experience the in metal mechanical industry, pharmaceuticals, pneumatics, heat-exchangers and of course vaping and smoking the best plant conceived by the mother earth. As engineers with such experience, the company decide to develop one single device capable of performing all the existing consumption methods by using common and standard items such as plastic bottles, aquarium hoses, etc. The objective was to create the characteristics of the most advanced vaporizers, bongs, pipes, hookahs, water pipes, but ready for anywhere, anytime and without batteries or electricity. The process to design something healthy, small and cheap with such features was hard and it took long time and several designs, but finally, it became a reality. The company and products are inspired by the Nimbin village of the Northern Rivers area of New South Wales, Australia. The region is known for the prominence of its environmental initiatives such as permaculture, sustainability, self-sufficiency as well as its cannabis counterculture.
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:
FORWARD LOOKING INFORMATION
This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions. Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.
CONTACT INFORMATION
-
Namaste Technologies Inc.
Sean Dollinger
Chief Executive Officer
+ 1 (786) 389-9771
info@namastevapes.com
www.namastetechnologies.com
- Published in Medical Marijuana, Namaste Technologies, News Home
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
Is Big Ganja The Next Big Pharma?
Is Big Ganja The Next Big Pharma?
2016 brought the demise of Bowie, the rise of the alt-right and the surprise election of a Cheeto as President of the United States.
The 420 front was one of few sectors growing by leaps and bounds. Last year may have been the biggest ever for marijuana reform, with three additional states giving the nod to medical pot and four to recreational use.
Cannabis research firm The ArcView Group predicts a staggering $22 billion in legal marijuana sales by 2020. Unwilling to let grass grow under their feet, tech giants are prepared to spend big for a place in the race to become the Google of cannabis.
Marijuana and tech conspired in a big way in 2016. Microsoft and Oracle Corporation backed seed-to-sale software helping medical cannabis companies transact in compliance with regulations.
However, the year’s fresh crop of cannabis hardware is the real talking point; 2016 introduced marijuana tech products of a novel strain. These innovations expertly blur boundaries between medical technology and consumer goods. One such gadget is LEAF, an automated home growing system managed via smartphone app.
“I’ve been using [medical cannabis] since I got out of the [Israeli] military in 2010,” says LEAF CEO Yoni Ofir. His Colorado-based company offers plug ‘n plant technology that automates every conceivable factor in the growing process, such as nutrition, temperature and humidity regulation. “You can use data and sensors to make everything accurate and increase the chance of a great crop,” says Ofir.
With LEAF on their side, medical marijuana patients and recreational users alike can grow their own cannabis with minimal physical input. “It’s basically a medical-grade lab,” says Ofir. Besides helping stoners get the best from their bud, LEAF could be a lifeline for patients with chronic illnesses and disabilities. Conserving time, money and effort makes it much simpler to maintain treatment plans.
From an aesthetic perspective, LEAF’s sleek device would look perfectly at home in an Apple store. “Design leads everything that we do at our company,” says Ofir. “It should be important for any upcoming marijuana tech company.”
The past year’s other marijuana tech innovations mirror LEAF’s preoccupation with both automation and aesthetics. Tel Aviv-based Syqe (pronounced ‘Psyche’) Medical’s pocket-sized cannabis inhaler delivers precision dosing through preloaded cartridges. The device’s current incarnation features chic white casing reminiscent of a Fujifilm Instax camera.
Photo courtesy of Syqe Medical
LEAF’s hefty price tag makes it near inaccessible to those who could benefit most from automated growing. The LEAF system itself will set consumers back a cool $2,990. Filters and nutrient packs required for a single grow cost $39 a pop. Once launched in the U.S., Syqe’s inhaler could also come at a similarly high buying cost with comparable long-term maintenance expenses.
Even though it’s usually cheaper than recreational pot, medical marijuana still isn’t cheap, and can cost around $40 for an eighth of an ounce, according to a user generated data bank called PriceOfWeed.com that’s on the low end of the spectrum. Investing in LEAF would certainly cut costs in the long run, it’s simply a case of spending money now to save money in the future. Investment buys are out of reach for many patients prescribed medicinal Mary Jane, whether we’re talking about a medical device or a Rolex.
If cannabis tech becomes user experience-focused at the expense of accessibility, essential innovations could be limited to the recreational market. Marijuana tech companies are ultimately profit-driven businesses, but there’s plenty that can be done on both company practice and federal policy levels.
“With technology, the more units being sold, the cheaper the price,” says Ofir. “Medical users have a lot to gain, because it just happens to be the same plant that the recreational users want.” However, companies have more socially responsible options available than developing a device and letting the free market decide its accessibility.
Price breaks from marijuana tech companies could offer a practical solution to increased accessibility. Several New Jersey dispensaries offer discounts to low-income patients, military veterans, senior citizens and minors. If cannabis companies applied this approach to their retail policy, medical users could have increased access to vital treatment tools without compromising on profitability.
In contrast with the inaccessibility of some medical marijuana hardware, accessible advances can and do exist in the realm of software. Releaf, a free app for Android and iOS helps patients manage cannabis dosing and gather treatment data for doctors. This sleek, intuitive app holds a five-star average rating across platforms.
Although currently unmonetized, Releaf offers ample opportunity for future monetization models such as in-app purchases and sponsorships. The only limit is developer Automata Studios’ creativity.
Photo courtesy of LEAF
A major shift in federal policy is also key to ensure widespread marijuana tech accessibility for medical users. The Controlled Substances Act classifies cannabis as a Schedule I drug without medicinal value, although policy at state levels often differs. Health insurance companies, whether funded privately or via social welfare programs, steer clear of this murky territory to the detriment of patients.
Medical marijuana patients are almost always forced to pay out of pocket for prescribed expenses. Marijuana Policy Project state policies director Karen O’Keefe blames bureaucratic obstacles for this lack of assistance. “In our experience, the vast majority of health insurance companies have not been willing to cover medical marijuana,” says O’Keefe. “Most or all medical marijuana laws explicitly say [insurance companies] are not required to cover the costs of medical cannabis.”
Without policy reform to facilitate coverage, technological bells and whistles like LEAF will remain inaccessible to those who could benefit from them most. “The passage of the CARERS Act, which would change federal law to formally recognize state medical marijuana programs, or the outright de-scheduling of marijuana are the most important,” says O’Keefe.
It’s too soon to tell what the incoming Trump administration could mean for medical marijuana policy. However, cannabis tech companies certainly hold sway in ensuring more immediate access to innovations for medical users. Rather than relying on trickle-down of treatment tools via recreational consumers, targeted price breaks and placing pressure on insurance providers could make the world of difference for patients without tarnishing turnover.
- Published in Blog, Medical Marijuana, Namaste Technologies, Tetra Bio Pharma
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 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
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 Announces New Agreements With PAX Labs and Firefly Vapor
Namaste Announces New Agreements With PAX Labs and Firefly Vapor
– Momentum Public Relations –
Press Release: October 11, 2016
Namaste Technologies Inc. (“Namaste” or “Company”) (CSE:N)(FRANKFURT:M5BQ) is pleased to announce two new agreements with industry leading manufacturers, PAX Labs (“PAX”) and Firefly Vapor (“Firefly”). The agreements with PAX and Firefly approve Namaste to sell their products in North America and over 20 countries internationally. Namaste is the only company in the world to receive international rights from these companies.
PAX and Firefly are two of the most innovative manufacturers of portable vaporizers and carry two of the most sought after products on the market. As the Company prepares for the holiday season, the most productive period of the year for vaporizer and accessory sales, these expanded relationships position Namaste for what is anticipated to be considerable e-commerce traffic and sales generation. Provided to a select number of companies in the industry, these contracts were awarded based on Namaste’s leading position in the e-commerce market segment with the anticipated closing of the URT1 acquisition in the coming week, international exposure, and strong logistics networks and customer service standards.
Sean Dollinger, President and CEO of Namaste, comments: “These agreements with PAX and Firefly represent major commercial steps forward for Namaste and further display our expanding market position as the leading e-commerce seller of vaporizers and accessories globally. Both these companies set the standard for excellence and innovation in the industry and we anticipate strong demand for these products through our e-commerce platforms. Our team has worked extensively with each of these companies to secure the ability to offer these products in North American and overseas. I would like to thank each of these companies for their support and the faith they have in Namaste to successfully carry their brands.”
About PAX Labs
Founded by two Stanford Design Program graduates, San Francisco-based PAX was developed with the mission of making smoking obsolete. The company creates superior, beautiful and technologically advanced products that push the boundaries of vaporization. PAX is the manufacturer of the PAX 2, which is the best-selling portable dry herb vaporizer in the world. PAX recently announced the release of the PAX 3, an updated version of the PAX 2 that is compatible with waxes and essential oils, features medical-grade materials, built-in rechargeable battery that powers four heating temperatures, and a mobile application to customize the unit features.
About Firefly Vapor
Mark Williams and Sasha Robinson founded Firefly Vapor in 2012 with the singular goal of enhancing people’s lives by creating the very best vaporizers in the world. Their first product, the Firefly, immediately earned praises from the likes of Wired Magazine and the New York Times as well as vape experts and connoisseurs. Firefly is the manufacturer of the Firefly 2, an innovative vaporizer that offers best in class performance. The Firefly 2 is enhanced with multiple new technologies including a smart-phone application to control various temperature and user profiles, touch sensors to activate the heating element, light weight construction and heating components that bring the device to temperature in only 3 seconds.
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 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