Namaste Closes $11,338,000 Bought Deal Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 9, 2017) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Namaste Technologies Inc. ("Namaste" or the "Company") (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce the closing of its "bought deal" private placement for gross proceeds of $11,338,000.

Further to the Company's press releases on February 24, 2017 and February 28, 2017, the Company has completed its "bought deal" private placement with Eight Capital and Canaccord Genuity Corp. as co-lead underwriters and joint bookrunners, and including Beacon Securities Limited (together, the "Underwriters"), whereby a total of 45,352,000 units of the Company (the "Units") have been issued and sold, at a price per Unit of $0.25, for total gross proceeds of $11,338,000 (the "Offering"). Each Unit consisted of one common share of the Company (a "Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Share at a price of $0.35 for a period of 24 months following the closing date.

In the event that the closing sale price of the Company's Shares on the Canadian Securities Exchange is greater than $0.70 per Share for a period of 10 consecutive trading days at any time after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.

The Company intends to use the net proceeds of the Offering for the acquisition of Australian Vaporizers PTY Ltd and for working capital and general corporate purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.