TORONTO, ONTARIO--(Marketwired - Aug. 17, 2016) - Namaste Technologies Inc. (CSE:N)(OTC PINK:NXTTF)(FRANKFURT:M5BQ) ("Namaste" or the "Company") has increased its site traffic from 42,353 in April to 267,144 in July, an increase of 531% as a result of the acquisition of Vaporseller and enhanced digital marketing strategies. Based on this current trajectory, Namaste is on track to achieve its near term goal of becoming the largest retail e-commerce company focused on the international distribution of vaporizers and accessories through selective acquisitions and organic growth.
Sean Dollinger, President and CEO of Namaste, comments: "Almost exactly one year ago, we started the process of transforming Namaste into a public company with the objective of utilizing our ecommerce, engineering and financial skills to capture significant vaporizer market share. With our acquisition of Vaporseller and our investment in technology, the Company is now in position to become the leading industry consolidator. I am also happy to report that our TSX Venture Exchange listing application is being submitted to the exchange within the coming weeks."
Namaste's core e-commerce business has been growing steadily and the Company has invested significant resources into improving the domain authority index of its flagship UK websites. As a result, domain authority has increased from 21 to 41, which now places Namaste in the top decile of all vaporizer sites globally based on this important metric. Domain authority is a score (on a 100-point logarithmic scale) developed by Moz, an internationally recognized authority on search engine optimization ("SEO"), that predicts how well a website will rank on search engines.
In addition to improving SEO, Namaste has also completed and launched VASTrader, a marketplace for the trading of previously owned vaporizers, and launched the Groovy Vapes application, an interactive application for the purchasing of vaporizers available in the Google Play and Apple stores. The VASTrader site can be accessed at www.VASTrader.com and the Groovy Vapes application is available on both Apple and Android mobile devices. In this emerging industry, research suggests vape owners own more than one unit over their lifetime, and the trading site facilitates gathering key data points on market activity, while also generating traffic back to Namaste owned domains and keeping brands at the top of mind for all consumers.
TSX Venture Application
Due to investor and advisor feedback, Namaste has been working with legal counsel to prepare and submit a listing application to the TSX Venture Exchange with the objective of listing the Company's common shares for trading on the exchange. The listing application is near complete and will be submitted in the coming weeks. The listing application will be subject to the review and approval of the TSX Venture Exchange and the Company will update the market on its progress in due course.
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has over 30 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Directors
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the links below:
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 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.