VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 17, 2016) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
Namaste Technologies Inc. ("Namaste" or the "Company") (CSE:N)(FRANKFURT:M5BQ) is pleased to announce the closing of its
non-brokered private placement for gross proceeds of $3,000,000. In addition, the Company is pleased to announce the bridge
note to the private placement has been converted to equity increasing the cash proceeds available to the Company.
Further to the Company's press releases on October 5, 2016 and October 12, 2016, the Company has completed its non-brokered
private placement of 25,000,000 units (the "Units") of the Company for gross proceeds of $3,000,000 (the "Offering"). The
Offering was completed at a price of $0.12 per Unit. Each Unit consists of one common share of the Company (a "Common Share") and
one-half of one common share purchase warrant (a "Warrant"), with each full Warrant being exercisable for one Common Share at an
exercise price of $0.20 per Common Share for a period of 24 months from the date of closing.
The proceeds from the offering will be utilized to fund cash closing costs associated with the wind down and integration of
the URT1 acquisition, increases in stock needed to support the expected sales increase as a result of the URT1 acquisition and
general working capital. The acquisition of URT1 is anticipated to close in the coming days. The Company will also pay finders'
fees of 7% cash and 7% broker's warrants to select eligible parties.
Further to the Company's press release dated September 7, 2016, the Company has received election from its arm's length bridge
note lender (the "Lender") to convert the total $400,000 principal amount into common shares of the Company at a price of $0.15
per common share in lieu of repayment. As a result, the Company will issue the Lender a total of 2,666,666 common shares and have
increased cash proceeds available to the Company.
Sean Dollinger, President and CEO of Namaste, comments: "I am proud to say we now move forward fully capitalized to execute
our acquisition of URT1 and business plan. I would like to thank investors for their overwhelming support for our placement."
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:
www.namastetechnologies.com
www.namastevaporizers.com
www.namastevaporizers.co.uk
www.vaporseller.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 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.