TORONTO, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Lifeist Wellness Inc. (“Lifeist” or the “Company”) (TSXV: LFST) (FRANKFURT: M5B0) (OTCMKTS: LFSWF), a health-tech company that leverages advancements in science and technology to support wellness in innovative ways, is pleased to announce that its U.S. biosciences subsidiary Mikra Cellular Sciences Inc. ("Mikra") has launched a total site refresh. Rebuilt from the ground up with a new design aesthetic and all new code on the back end, the new wearemikra.com represents the first of many initiatives to refocus Mikra on effective customer service, sales and marketing.
“We have been working diligently to sharpen our marketing approach and communicate more effectively with customers,” said Andrea Judge, CEO of Mikra. “The site refresh is only the most visible of the dramatic internal changes that are presently underway, that I am confident will better serve the interests of our customers, partners and shareholders in equal measure. Stay tuned, as there is more to come.”
In a corporate update and further to the news release dated August 16, 2024, the Company has amended the terms of the Consulting Agreement (the “Agreement”) dated August 1, 2024, it entered into with Singular Narrative Management Ltd. (“Singular”) such that no securities of Lifeist will be issued to compensate Singular for a certain shortfall in the fees payable under the terms of its previous consulting agreement with Singular.
As described in such news release, pursuant to the Agreement, Lifeist shall pay a monthly fee of $20,000 to Singular for the provisions of their services thereunder, after such services have been provided in the particular month, to be satisfied in common shares (“Shares”) of the Company and common share purchase warrants (“Warrants”), with the number of (i) Shares issuable to Singular determined by dividing $20,000 by the 5-day volume-weighted average price (“VWAP”) for the last five days of the month in which the services are provided and (ii) Warrants issuable to Singular determined by dividing $20,000 by such VWAP. The exercise price of the Warrants shall equal the greater of the “Market Price” (as defined in Policy 1.1 of the TSXV) on the trading day prior to the date of issuance of the Warrants and $0.05 and the Warrants expire 5 years from the date of issuance.
Mikra is pushing biosciences beyond the expected with the belief that it is possible to add more active, vigorous, enjoyable, and valuable years to your life through protecting and maintaining your cellular health.
Lifeist is committed to bringing natural products backed by real science to market and looks forward to reaching many more customers in 2024 and beyond.
About Lifeist Wellness Inc.
Sitting at the forefront of the post-pandemic wellness revolution, Lifeist leverages advancements in science and technology to develop innovative products, support human wellness and transform lives. Lifeist’s key asset is its U.S. biosciences subsidiary Mikra Cellular Sciences Inc., a biosciences and consumer wellness company focused on developing and selling innovative products.
Information on Lifeist and its businesses can be accessed through the links below:
www.lifeist.com
https://wearemikra.com/
Contact:
Meni Morim
CEO
Lifeist Wellness Inc.
Ph: 647-362-0390
Email: ir@lifeist.com
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.
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 press release.
Additional risk factors can also be found in the Company’s current MD&A filed under the Company’s SEDAR+ profile at www.sedarplus.ca. 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1229cb57-8598-4b06-b203-66a1ced38c54
