NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Feb. 27, 2018 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N) (FRA:M5BQ) (OTCMKTS:NXTTF) is pleased to announce that it has closed today its previously announced “bought deal” short form prospectus offering of units, including the exercise in full of the over-allotment option (the “Offering”).

A total of 15,784,900 units of the Company (“Units”) were sold at a price of $2.55 per Unit (the “Issue Price”) for gross proceeds of $40,251,495 (including the exercise in full of the over-allotment option). The Offering was completed by a syndicate of underwriters co-led by Eight Capital and Canaccord Genuity Corp. as co-lead underwriters and joint bookrunners, and including Beacon Securities Limited (the “Underwriters”). Each Unit was comprised of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant of the Company (a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $3.15 for a period of 24 months following the date hereof, subject to acceleration of the expiry date in the event the volume weighted average price of the Common Shares on the CSE is equal to or greater than $6.00 per Common Shares for a period of 10 consecutive trading days. It is anticipated that the Warrants will commence trading today under the symbol "N.WT".

Sean Dollinger, President, and CEO of Namaste comments: “We’re very pleased to have closed this bought-deal financing which leaves the Company in a strong cash position and prepared for continued growth. We are very confident with the roll-out of our strategy as it relates to NamasteMD and Cannmart as well as our plans to launch similar models throughout our global networks of consumer databases and websites. We believe that Namaste has positioned itself to become a global leader in the medical cannabis industry. We would like to thank Eight Capital, Cannacord Genuity and Beacon Securities for their support and participation in this financing as well as our management team for their efforts in seeing this financing through to an end. We’d also like to thank our shareholders for their support as we look forward to a very exciting month of March 2018”.

In consideration for their services, the Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering and compensation options (each a “Compensation Option”) equal to 6% of the Units sold pursuant to the Offering. Each Compensation Option is exercisable at the Issue Price into one unit, each comprised of one Common Share and one Warrant (a “Compensation Warrant”) for a period of 24 months from the date hereof.. Each Compensation Warrant is exercisable into one Common Share at a price of $3.15 for a period of 24 months following the date hereof.

The net proceeds of the Offering are expected to be used by Namaste to fund inventory and supplies for the CannMart facility, to expand its customer and user base, for e-commerce upgrades and for working capital and general corporate purposes.

About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through 24 e-commerce sites in 20 countries and with distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis distribution license (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.

On behalf of the Board of Directors

“Sean Dollinger”
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: [email protected]

Further information on Namaste and its products can be accessed through the links below:

Agreement.namastetechnologies.com
Agreement.namastevaporizers.co.uk
Agreement.everyonedoesit.co.uk
Agreement.australianvaporizers.com.au

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 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 harbour provisions of the Private Securities Litigation Reform Act of 1995. The Canadian Securities Exchange has neither reviewed nor approved the contents of this press release.