VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 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:
FORWARD-LOOKING INFORMATION This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors 5 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.