- 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.
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: For additional investor information, contact: Brooks Bergreen, CEO HIT Technologies Inc., [email protected], +1 416 815 0700, www.hitcase.com/invest