Share this story:

NameSilo Technologies Corp. Not Proceeding with Sale of NameSilo LLC





 

VANCOUVER, BRITISH COLUMBIA - TheNewswire - August 30, 2021 - NameSilo Technologies Corp. (CNSX:URL.CN) (OTC:URLOF) (the “Company”) wishes to announce that further to its news release dated December 1, 2020, the Company has elected to cancel the sale of NameSilo, LLC and has issued a notice of termination to WGH Holdings B.V. (the prospective buyer).

Paul Andreola, CEO of NameSilo Technologies states: “We believe that the value of Namesilo has grown significantly since the discussions with the prospective buyer began and feel that there is more value to be unlocked over the near to medium term for shareholders.  NameSilo is a growing, cash-flow positive business with record revenues that has achieved the recent and important milestones of hitting 4 million domains under management and has entered the top 10 .COM registrars in the world.  With its significant base business well established the Company will move towards aggressive growth of commercialization opportunities with a strategic focus on developing new synergistic businesses over the coming quarters”.

As announced in our August 27th, 2021 press release, NameSilo LLC achieved record revenues of $8.4 million in Q2 with a 17.2% gross profit margin and record bookings of $9.9 million.

Kristaps Ronka, CEO of NameSilo tech says: “NameSilo LLC is a provider of domain names, hosting, email and other Internet services. Over the past year, NameSilo has enhanced its front-end website and backend code base, as well as rolled out a mobile optimized shopping cart experience. This has resulted in increased load speeds for our customers around the world and directly led to higher conversion rates across our services.

NameSilo has also launched two new leading-edge products to further drive customer success. First is a new brokerage platform, NameLot.com, for domain investors to sell their domain names. Second is a new service to complement NameLot.com, called BrandLot.com, which helps small and medium sized business (SMB) users procure a domain name and website.

NameSilo will continue to deliver unbeatable value for its customers, including a planned launch of a state-of-the-art powerful SMB product in the coming year.”

NameSilo Technologies Corp.
Paul Andreola

President, CEO and Director
(604) 644-0072
www.brisio.com

 

NameSilo LLC
Kristaps Ronka

CEO

pr@namesilo.com
www.namesilo.com

 

About NameSilo Technologies Corp. and NameSilo LLC

 

NameSilo Technologies Corp. invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. Namesilo does not invest on behalf of any third party and it does not offer investment advice.

 

NameSilo LLC is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, NameSilo is one of the fastest growing domain registrars in the world with over 4.3 million active domains under management, and over 310,000 customers from approximately 160 countries.

 

Disclaimer for Forward-Looking Information

 

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company’s actual results to differ materially from those expressed or implied by the forward-looking statements.

  

NEITHER THE CSE NOR ITS REGULATION SERVICES PROVIDERS (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.