- Company's continued success in building brand awareness drives growth in online order volume -
BURNABY, BC, Dec. 15, 2015 /CNW/ - HIT Technologies Inc. (TSXV: HIT) ("HIT" or the "Company"), which designs, develops, manufactures and distributes the world's most advanced adventure products for iPhone, today announced a 50% increase in November 2015 online order volume and a total online fan base count of 450,000 as at November 30, 2015.
"Since the launch of HITCASE PRO in July and HITCASE SNAP in October, our online sales have continued to gain momentum, with November marking our strongest month to date," said Brooks Bergeen, CEO of HIT Technologies, Inc. "Our brand awareness building efforts are clearly paying off. Through the combination of our Black Friday and Cyber Monday promotions and the significant growth in our fan base following the launch of our most recent video, which went viral, we saw a solid increase in our online order volumes for November."
Bergeen continued: "While we are still in the early stages of development, we believe our online sales order volume trend is promising. With more than 200 million iPhones expected to ship globally this year and beyond, and the increasing shift toward smartphones as primary capture devices, we have significant opportunities in front of us."
The Company's online sales order volume for November 2015 increased more than 50% over the previous four month average (July-October 2015). In addition, the Company's average online order value for November remained relatively flat to the previous four month average, despite Black Friday and Cyber Monday promotional offers.
On November 13, HIT released the video 200 Foot West Coast Rope Swing, featuring slackline record holder, Spencer Seabrook. The video, filmed solely with iPhone and HITCASE, garnered more than 2 million views and 10,000 shares in the first week. Following the release of the video, the Company's fan base surged, increasing by more than 1,500 fans a day to exit November with a total of 450,000 fans.
HIT continues to promote its product suite through a variety of efforts, including participating in events, viral marketing campaigns and working with HITCASE brand ambassadors. HIT recently partnered with shoppable app, Fancy.com, where HITCASE products were marketed at Fancy.com's first-ever pop-up shop, The Run Up, located in New York City. HIT is also a proud sponsor of Spencer Seabrook's recently premiered documentary, Untethered.
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 Technologies, Inc. develops and markets a portfolio of products that transform Apple iPhones into high-performing, weather- and shock-resistant video cameras. Both its, flagship product, HITCASE PRO and its newer SNAP allows users to easily capture action photo and video content hands-free, using a variety of HIT Technologies' patented Railslide™ mounts that attach to virtually any surface. Swappable lenses and accessories provide a variety of perspectives otherwise unattainable while participating in adventure sports. HIT Technologies is headquartered in Vancouver, British Columbia, Canada and trades on the TSX Venture Exchange (TSXV: HIT). For more information about HITCASE, visit www.HITCASE.com. Search #hitcase on Instagram to see some of the amazing images created by HITCASE customers.
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
For further information: Brooks Bergreen, CEO HIT Technologies Inc., [email protected], +1 416 815 0700, www.hitcase.com/invest