VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 5, 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."
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:
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.