TORONTO, Sept. 22, 2022 (GLOBE NEWSWIRE) — Lifeist Wellness Inc. (“Lifeist” or the “Company”) (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: NXTTF), a health-tech company that leverages advancements in science and technology to build breakthrough companies that transform human wellness, today announced upcoming additional sales milestones in Ontario and Alberta for its wholly owned Canadian cannabis business unit CannMart Inc.’s (“CannMart”) award-winning in-house Roilty brand.
In Ontario, CannMart has received a formal notice to purchase (“the Notice”) from the Ontario Cannabis Store (“OCS”) for three new Roilty products for the OCS’ winter release, namely live resin vape carts, distillate vape carts, and shatter. Once purchase orders are received, the products are expected to be available in Ontario retail locations and online at https://ocs.ca early in the new year.
CannMart is currently in-market in Ontario with live resin and vape cart Roilty-branded products and is already scheduled to come to market with a Roilty-branded shatter duo-pack this fall. With the added presence of these new products over the fall and winter seasons, which includes shatter as a brand-new category and innovative packaging and multiple flavors, the number of Roilty products available in the province will increase from three currently to seven.
In Alberta, CannMart has received a formal intent to purchase (“the Intent”) from the Alberta Gaming, Liquor and Cannabis Commission (“AGLC”) for three additional Roilty products for October 2022. The Intent includes live resin vape cartridges, distillate cartridges and shatter vape cartridges. Once orders are received, the number of Roilty products available in the province will increase from 10 currently to 13.
“Having an increasing number of Roilty products getting indicatively picked up in two of Canada’s largest provinces is a significant commercial milestone and confirms the significant potential for our award-winning brand,” said Daniel Stern, CEO of CannMart. “Furthermore, as the majority of Roilty products are manufactured at our own state-of-the-art BHO extraction facility, CannMart can fulfill its commitment to its parent company Lifeist to focus on higher-margin products which is expected to accelerate our path to profitability. We also look forward to developing and executing product information programs with retailers in Ontario and Alberta to maximize pull through sales of our high-quality, consumer price friendly cannabis concentrate products over the coming months.”
About Lifeist Wellness Inc.
Sitting at the forefront of the post-pandemic wellness revolution, Lifeist leverages advancements in science and technology to build breakthrough companies that transform human wellness. Portfolio business units include: CannMart, which operates a B2B wholesale distribution business facilitating recreational cannabis sales to Canadian provincial government control boards; CannMart Labs, a BHO extraction facility for the production of high margin cannabis 2.0 products; Australian Vapes, Australia’s largest online retailer of vaporizers and accessories; and Mikra, a biosciences and consumer wellness company seeking to develop innovative therapies for cellular health.
Information on Lifeist and its businesses can be accessed through the links below:
Meni Morim, Lifeist Wellness Inc., CEO
Matt Chesler, CFA, FNK IR, Investor Relations
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Forward Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen.
The forward-looking information contained herein, including, without limitation, statements related to AGLC’s and OCS’s intents to additional purchase Roilty products are made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including, without limitation, its ability to deliver such products as anticipated, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. Such factors include, without limitation: unforeseen developments that would restrict CannMart’s to deliver products as anticipated and risks relating to the Company’s ability to execute its business strategy and the benefits realizable therefrom. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed under the Company’s SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Source: Lifeist Wellness Inc.