Proactiveinvestors Australia Namaste Technologies Inc Proactiveinvestors Australia Namaste Technologies Inc RSS feed en Tue, 18 Jun 2019 03:08:21 +1000 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[News - Namaste Technologies to broaden use of product markers ]]> Namaste Technologies (CVE:N) (OTCMKTS:NXTTF) will broaden the use of YPB Group Ltd (ASE:YPB) product markers, which are designed to protect consumers from the health, safety and quality risks associated with counterfeit products. 

"We want to do the best by our consumers and brands by taking proactive measures to ensure the authenticity of the products we sell through our platform," said Meni Morim, CEO of Namaste Technologies in a news release. "We believe YPB has a strong solution and we expect that the connectivity and authenticity features will be welcomed as a value-add by our brand clients and consumers."

Product authenticity and consumer engagement solutions provider YPB Group in a statement Wednesday that its markers also provide greater market intelligence through consumer data captured through YPB's Connect platform.

READ: Namaste Technologies reaches settlement with ousted CEO Sean Dollinger, taps Branden Spikes as chairman

According to a statement, YPB will receive A$0.13 per product that is marked with its label solution and said other methods of marking are currently being developed, which will result in serialization of product packaging. The company said if the packaging is marked with a printed code, the price per product would be between A$0.01 and A$0.05.

"We are seeing a new level of consumer expectation that the products purchased are genuine, safe and socially responsible," said John Houston, CEO of YPB Group. "Brands are increasingly seeing the reputational and financial damage that results from counterfeit products. It is great to see that the e-commerce platforms are taking the initiative to herald this new age, and YPB believes that it is exceptionally well-placed with the world's leading product authenticity technologies."

YPB solution has advantages 

The move by Namaste follows another globally significant precedent set by e-commerce giant, Amazon, which mandated anti-counterfeit markings on all products sold through its platforms.

According to YPB Group, its solution has "distinct advantages over that announced by Amazon in terms of price, access the brand will have to data and importantly YPB's solution can be read by any smartphone without the need for an APP."

Shares of Namaste Technologies were up 1% at C$1.14 on Wednesday. 

Wed, 20 Feb 2019 18:43:00 +1100
<![CDATA[News - Namaste Technologies says ex-CEO Sean Dollinger is suing the cannabis company ]]> Namaste Technologies Inc (OTCMKTS:NXTTF) (CVE:N) said its former CEO, Sean Dollinger, is suing the company over his departure from the cannabis company.

The Vancouver-based company said Monday in a press release distributed by Cision that the matter is now before the Ontario Superior Court of Justice Commercial List, which handles commercial litigation.

READ: Namaste Technologies says ex-CEO Sean Dollinger is suing the cannabis company

Earlier this week, the company announced that following an investigation by a special committee of the board, Dollinger was terminated as CEO.The company also said it was starting a strategic review to consider alternatives including a sale of Namaste.

Meni Morim was appointed interim CEO.

According to the company, the investigation focused on the sale of Namaste's US subsidiary, Dollinger Enterprises US Inc, and subsequent transactions involving its assets and companies in which Dollinger had an interest. 

"I intend to begin setting the record straight and clearing any misconceptions caused by the inaccurate allegations levelled against me," said Dollinger in a statement issued Tuesday.

Shares fell 3% to US$0.87 in morning OTC Markets trading and lost 4.2% C$1.14 in Canada.

Wed, 06 Feb 2019 08:35:00 +1100
<![CDATA[Media files - Israeli Parliament approves export of medical cannabis, Namaste is ready to accept! ]]> Mon, 28 Jan 2019 15:02:00 +1100 <![CDATA[Media files - Namaste Technologies granted first ever "sales only" ACMPR license by Health Canada ]]> Fri, 21 Sep 2018 19:09:00 +1000 <![CDATA[News - Namaste Technologies: Watch those vapor trails! ]]> A few years back we might have had to be coy about the core market of Namaste Technologies Inc (CVE:N, CNSX:N), the e-commerce retailer.

These days, with recent legislative changes (and more on the way) we can come straight out and state the seller of vaporizers and associated paraphernalia is focused on the medical and recreational consumer of cannabis.

Regulatory changes and technological advancements are accelerating growth in the vaporizers and accessories industry, as are health concerns about the old ways of enjoying the weed – what comedian Bob Newhart described as users “sticking burning leaves in their mouths” in his classic routine, 'Introducing tobacco to civilization'.

Wells Fargo predicts staggering growth over the next five years

The vaping industry as a whole was turning over US$2bn a year in 2014, according to investment bank Wells Fargo, and by 2016 had more than doubled in size.

The bank's projection is that the market will top a staggering US$20bn a year by 2021.

That sum includes e-cigarettes, which is not Namaste’s target market, but the market is still plenty big enough, and it is growing at a rate that even appears to have caught co-founder and chief executive officer (CEO) Sean Dollinger by surprise.

“We identified vaporizers,” said Dollinger, a serial e-commerce entrepreneur, explaining why he got into the business line.

“We thought we'd sell two or three a day. That quickly turned into a hundred or two hundred a day, and some days now we ship well over five hundred per day around the globe.”

Having acquired the rival and sites Dollinger feels the company is equipped to dominate the sector.

Everyonedoesit (and other vaping web sites)

To back this up, he discloses that, at the beginning of 2016, with (and international variations thereof) as the main ecommerce platform, monthly site visits were around 35,000; by the end of the year they had risen to 576,846 across the whole Namaste platform.

With 26 web sites, a local presence in 20 countries and a customer mailing list of around 300,000, the company is well-placed to hit the accelerator pedal.

It is looking to organically grow base e-commerce revenues by 6% a month, which thanks to the wonders of compound interest means turnover should double each year.

It's a business with a decent margin – one that should improve as the company exploits the increased buying power it now has following recent acquisitions – and it needs one to make the e-commerce model work.

“It's a very simple formula once you get it down,” Dollinger said, explaining the e-commerce business model.

“You need to make sure the gross margins are there, and you need an item with a decent size ticket, because it is so expensive to advertise and market,” he explained.

With a top-notch e-commerce platform, a multi-strand marketing approach that allows the company to target different ends of the vaping market, and an experienced management team Namaste has the pieces in place to maintain its leadership in this fast-growing sector.

“Come November this year we expect to be on a run rate of C$2mln a month, and that's compared with two years ago when we were doing roughly C$150,000 a month,” Dollinger said.

Valued at just C$42mln and yet a leading player in "the quickest growing industry in the world" 

Such rapid growth makes it slightly mystifying why the company is valued so cheaply at C$42mln.

Dollinger explained that the company has had its chance to sell out, but enthused by the opportunities in “the quickest growing industry in the world”, Namaste opted to go public in February 2016.

Recent news flow has been positive, with Namaste this month inking a deal with Canopy Growth Corp (TSE:WEED), a C$1.5bn-valued producer and seller of marijuana in the Canadian medicinal-use market.

The pair will work together to educate Namaste's Canada-based clients on the clients on the legal, regulated framework for medical cannabis.

Namaste will also support Canopy on the development of Canopy branded vaporizers and accessories.

"Our company has successfully built one of the largest and most global client relationship databases in the cannabis industry and we view broadening our strategic alliances to the benefit of our customers and shareholders,” Dollinger told investors.

“Going forward, we see multiple opportunities to expand this strategy globally," he added.

The company also intends to acquire a licensed producer of marijuana in Toronto, which will prove useful in obtaining a distribution license.

The mailing list alone is a goldmine

Dollinger is confident it will only be a matter of time before the market ascribes a more realistic valuation to the company, if only on the strength of its customer database.

“Just to give you an idea, licensed cannabis producers in Canada are buying verified email addresses at C$300 per email. On a given day, Namaste collects 1,000 email [addresses] a day around the globe, so if you start doing the ‘quick and dirty’ on that, you can see the value of our database.

Dollinger also cites the example of, an e-retailer of premium pet food founded by Ryan Cohen, who just happens to have started three ventures in the past with Dollinger.

“He just sold his one web site for $3.3bn in the largest e-commerce deal of all time,” Dollinger noted, adding that Namaste largely follows the same e-commerce formula to

“That was in dog food, the most competitive business in the world. Why would people choose that site over Amazon?

“It comes down to a few things: you’ve got to be obsessed with the company; number two, you’ve got to offer the best customer services you possibly can, because people call Amazon for vaporizers – you’re not gonna get any support.

“Number three, you’ve got to have an amazing range of products. That’s what we’re doing.”

Dollinger concedes that there are more dogs in North America than cannabis users but with the speed at which the legalised market is growing, he is confident he can grow Namaste “in the exact same way” as

Wed, 26 Apr 2017 10:10:00 +1000
<![CDATA[News - Namaste moves into Asia-Pacific with Australia vape purchase ]]> Namaste Technologies Inc. (CSE:N) is to acquire Australian Vaporizers to extend its global reach to the Asia Pacific region.

Australian Vaporizers is the largest online retailer of vaping accessories in the country, said Namaste, and its site has approximately 80% market share.

Revenues to end June for the Aussie company were A$4.5mln with underlying profits [EBITDA] ofA$1.1 mln. Gross margins for the period were over 45%.

Following the acquisition, Namaste’s customer base will rise to over 300,000 individuals and the purchase increases the revenue run-rate to C$18mln.

Namaste will fund the acquisition through a C$6mln bought deal placing led by Eight Capital and Canaccord Genuity at a price of C$0.25 for one share and a warrant.

Fri, 24 Feb 2017 15:49:00 +1100
<![CDATA[News - Namaste Technologies moves closer to buying "vaping" online business ]]> The acquisition by Namaste Technologies Inc (CVE:N) of various assets currently owned by Haze Industries has moved a step closer.

The Canadian company, formerly known as Next Gen Metals but now focused on medical marijuana and alternative medicines, said that it has now signed an asset purchase agreement that will see it acquire a number of web site domains, a customer list of more than 150,000 individuals plus intellectual property and goodwill of VaporSeller, an e-commerce platform for the fast-growing vaporizer and accessories market.

Namaste will pay US$500,000 in cash when the deal closes, and will hand over five million shares of the company. In addition there is any earn-out clause of US$1.5mln over a three-year period that could be triggered by revenue, margin and operational controls.

Namaste anticipates closing the transaction on or about June 30, 2016, subject to the receipt of all director and regulatory approvals, including approval of the Canadian Securities Exchange if required.

Namaste also revealed it has arranged a non-brokered private placement of at least 8.5mln units but no more than 12.5mln units at C$0.12 a pop, to raise between C$1mln and C$1.5mln.

Each unit comprises one common share of Namaste plus half a warrant; each pair of warrants would entitle the owner to exchange them for a single common share upon payment of C$0.18 any time up to 24 months after the date of issue.

The net proceeds from the offering will be used to fund cash closing costs associated with the VaporSeller transaction, inventory expansion and for general working capital purposes.

"The signing of the definitive agreements for the acquisition of VaporSeller represents a significant step forward in terms of the completion of this transaction. As the first of multiple opportunities we have identified to expand through acquisition, our management team is high focused on ensuring an efficient and effective execution of this transaction as well as a seamless integration of our current platform and VaporSeller,” said Sean Dollinger, president and chief executive officer of Namaste.

Wed, 08 Jun 2016 10:40:00 +1000