- Fan base reaches 359,000 with an addition of
114,000 in the quarter -
VANCOUVER, Oct. 14, 2015 /CNW/ - HIT Technologies Inc.
(TSXV:HIT) ("HIT" or the "Company"), designs, develops,
manufactures and distributes the world's most advanced adventure
products for iPhone, today announced that it exited Q1 fiscal 2016
with an online fan base of 359,000, up approximately 50%, or
114,000, from the end of Q4 fiscal 2015.
"Building our fan base is a key element of our long-term growth
strategy, and we continue to deliver," said Brooks Bergreen, CEO of HIT Technologies. "At
359,000, our online fan base has grown significantly from 245,000
at the end of fiscal 2015 and exponentially from 20,000 since
January 2015."
To promote its product suite, The Company has participated in a
number of events, including the Red Bull Thre3Style World DJ
Championships in Tokyo, New York
Fashion Week, North America's
premier powersports distributor, Motovan's, Dealer Expo 2015 in
Las Vegas, Nevada, as well as the
Knowshow retailer show in Vancouver,
British Columbia.
A core component of the Company's brand building strategy is to
align with athletes that epitomize HIT's "ready for adventure"
brand attitude. HIT recently resigned surfer Ian Walsh and award winning Mountain bike
freerider Brandon Semenuk, and was a
title sponsor for freeskier Sean
Pettit's award winning film, The Masquerade.
Bergreen added: "Our continued strategic efforts to build brand
awareness are paying off. We have established a brand that is
synonymous with adventure and creativity, and it is clearly
resonating in the market. The bigger our online base gets, the
larger the opportunity is to convert our fans into loyal HITCASE
customers."
Forward Looking Statements
This news release
contains certain "forward-looking information" within the meaning
of applicable Canadian securities laws that are based on
expectations, estimates and projections as at the date of this news
release. The information in this release about the Company's
anticipated use of available funds, and the future plans and
objectives of the Company are forward-looking information.
Any statements that involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or
"intends" or variations of such words and phrases or stating that
certain actions, events or results "may" or "could", "would",
"might" or "will" be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking
information and are intended to identify forward-looking
information.
This forward-looking information is based on reasonable
assumptions and estimates of management of the Company at the time
it was made, and involves known and unknown risks, uncertainties
and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking information. Such factors include, among
others, global economic climate; dilution; the Company's limited
operating history; future capital needs and uncertainty of
additional financing; the competitive nature of the industry;
currency exchange risks; the need for the Company to manage its
planned growth and expansion; the effects of product development
and need for continued technology change; protection of proprietary
rights; the effect of government regulation and compliance on the
Company and the industry; network security risks; the ability of
the Company to maintain properly working systems; theft and risk of
physical harm to personnel; reliance on key personnel; global
economic and financial market deterioration impeding access to
capital or increasing the cost of capital; and volatile securities
markets impacting security pricing unrelated to operating
performance. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company undertakes no
obligation to revise or update any forward-looking information
other than as required by law.
About HIT Technologies Inc.
HIT develops and markets a portfolio of products for use on
Apple iPhones across the globe. HIT believes that there is a
significant opportunity in helping people get Ready for Adventure™
with the best camera they already have, their iPhone. Both the
Company's HITCASE PRO and SNAP allow people to create exciting
photo and video content using patented Railslide™ mounts without
the need for additional cameras, or gear that get in the way of the
fun. With a combination of software, professional quality lenses,
patented waterproofing and mounting technologies for every
conceivable activity, HIT's product portfolio makes it fun and easy
for users to capture and share a day at the beach, on the mountain,
in the backyard, or anywhere else life takes you. For more
information about HITCASE, visit www.hitcase.com. Search #hitcase
on Instagram to see some of the amazing images created by HITCASE
customers.
Cautionary Statement
No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein. Neither the TSX
Venture Exchange ("TSX-V") nor its Regulation Services Provider (as
that term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy of this release.
SOURCE HIT Technologies Inc.
