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.
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.