World’s Largest E-Commerce B2C Vaporizer Company
October '17 Sales of C$1.3m Representing a 174% Year-On-Year Increase
Message: Namaste Receives Cease Trade Order
VANCOUVER, BRITISH COLUMBIA--(Jan. 5, 2017) - Namaste Technologies Inc. ("Namaste" or the "Company") (CSE:N)(CSE:N.CN) (FRANKFURT:M5BQ) discloses today that the filings of the Company's annual financial statements for the fiscal year ended August 31, 2016, the related management's discussion and analysis and the certification of the annual filings for the year ended August 31, 2016 (collectively, the "2016 Annual Financial Statements") were not completed by the deadline of December 29, 2016. As a result, the British Columbia Securities Commission issued a cease trade order (the "Cease Trade Order") against the Company and securities have been halted from trading on the Canadian Securities Exchange.
The Company is actively working with its auditors to finalize the 2016 Annual Financial Statements, which the Company expects to be completed imminently. Once the 2016 Annual Financial Statements are finalized, the Company will seek to have the Cease Trade Order revoked. The Company will be forthcoming with an update on the 2016 Annual Financial Statements once the required filings have been made.
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 links 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.
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: [email protected]
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