Listed on the
Canadian Securities Exchange CSE: N, Germany FSE:
M5BQ
NAMASTE ANNOUNCES RECORD MONTHLY SALES OF OVER $1.0
MILLION AND 1,308% INCREASE IN TRAFFIC
Vancouver, British Columbia, Canada Namaste Technologies Inc.
(Namaste) (CSE: N,
FSE:
M5BQ) is pleased to announce that it has achieved record
monthly sales and traffic for the month of November. The total
unaudited sales amount for November was approximately $1.0 million
Canadian and total traffic was 596,453. These results reflect the
acquisition of the VaporSeller and Everyonedoesit domains. The
breakdown of the revenue and traffic by domain is set forth
below:
Domain |
Revenue |
Percentage |
Traffic |
Percentage |
NamasteVapes |
355,844 |
35.3 |
71,743 |
12.00 |
Everyonedoesit |
360,174 |
35.8 |
337,610 |
56.60 |
VaporSeller |
290,782 |
28.90 |
187,100 |
31.40 |
Total |
$1,006,839 |
100.00% |
596,453 |
100.00% |
As reflected by these results, the Namaste Vapes domain
generated 35.3% of revenue from 12.0% of total traffic. This
disproportionate share of revenue generation is the result of a
higher conversion ratio and average purchase amount per order. By
applying market leading conversion and upselling techniques to the
recently acquired VaporSeller and Everyonedoesit domains, the
Company believes it can extract considerable revenue growth from
these acquisitions, which underpins the strategic rationale of
acquiring these assets. In terms of total traffic, Namaste has
increased its total pre-acquisition monthly traffic from 42,353 in
July to 596,453 in November, an overall increase of 1,308.3% in
monthly traffic. The majority of this traffic has been secured
using organic traffic generation techniques as opposed to higher
cost pay-per-click advertising.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: The
results produced in the month of November demonstrate the
transactional execution capabilities of Namastes management team.
As we continue to implement our e-commerce development and
acquisition strategies, we see multiple opportunities to further
expand our revenue form organic growth and additional consolidation
opportunities. In comparison to the spectrum of companies
participating in the cannabis cultivation and hardware industry, we
believe these results further demonstrate our scale and the value
of our business in the context of the current market
environment.
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
Sean Dollinger
Chief Executive Officer
Further information on the company and its products can be
accessed through the link below:
www.namastetechnologies.com
www.namastevaporizers.com
www.namastevaporizers.co.uk
www.vaporseller.com
www.everyonedoesit.com
www.everyonedoesit.co.uk
Suite 2300 – 550 Burrard Street
Vancouver, BC, V6C 2B5
Main: + 1 (786) 389-9771
www.namastetechnologies.com
info@namastevapes.com
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.