TORONTO, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Lifeist Wellness Inc. (“Lifeist” or the “Company”) (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: LFSWF), a health-tech company that leverages advancements in science and technology to build breakthrough ventures that transform human wellness, today announced that its subsidiary CannMart Inc. (“CannMart”) has made its first product delivery through its extensive B2B wholesale distribution network to the province of Newfoundland and Labrador. This marks the first CannMart products under its in-house brand Roilty to be sold to Newfoundland and Labrador, with expansion intentions for cannabis brands Zest and Rilaxe. Roilty continues expanding its sales presence across Canada, with Newfoundland & Labrador representing another unique opportunity to engage directly with retailers, further strengthening our collaborative partnerships in the region.
In line with Roilty's recent expansion into eastern Canada, the premium brand has received multiple nominations at this year's AdCann Awards in Canada. These nominations encompass various categories, offering opportunities for consumers to vote for their favourite brand. Roilty has been recognized in several noteworthy categories, Brand LP (Licensed Producer) of the Year, Social Media of the Year, Marketing Campaign of the Year, and Social Good Campaign of the Year. In addition, Zest, another CannMart in-house brand has earned a well-deserved nomination for Rookie of the Year, and CannMart’s own VP of Brand Marketing Bella Mitchell has been nominated for Brand Marketer of the Year. Your support in these nominations is greatly appreciated. To make your vote count for your favourite cannabis brands click here.
"The dedication and tireless effort involved in crafting a brand that truly connects with consumers can often go unnoticed amidst the daily grind of business. However, these nominations provide a well-deserved spotlight on CannMart's unwavering commitment to nurturing the robust consumer brands, Roilty," expressed Daniel Stern, CEO of CannMart. "Today, Roilty stands proud as one of the top three concentrate brands across Canada. This achievement is a testament to the brand's evolution and the exceptional work in marketing it both in-store and at events, in collaboration with budtenders and everyday consumers. The insights and accomplishments garnered from Roilty are now instrumental in propelling Zest Cannabis into the spotlight as well."
As CannMart's brand portfolio evolves, the B2B marketing initiatives continue to grow and develop. With budtenders being a key target audience for Roilty and Zest Cannabis, CannMart has announced it is to proudly serve as the title sponsor for the next CannExpo Budtender Event in Toronto. This 3-day tradeshow in March 2024, is dedicated to cannabis culture and community and provides an ideal platform for Roilty and Zest to take center stage. CannMart’s marketing team will actively engage in sampling, networking, and presenting sneak peeks of the exciting new products in their respective product pipelines.
Further to its June 30, 2023 news release, Lifeist also reports , as required by the approval of the TSXV in connection with the Consulting Agreement dated June 30, 2023 entered into by the Company with Singular Narrative Management Ltd. (“Singular”) for the provision of strategic business consulting, product development, and brand marketing services to the Company as well as other services that do not include investor relations or promotional activities, that is has issued an aggregate of 2,760,456 common shares and 1,600,000 common share purchase warrants to acquire up to 1,600,000 common shares as payment to Singular of the monthly fee of $20,000 for services provided in each of the months of July, August and September 2023, calculated in accordance with the Consulting Agreement. The common shares were issued at deemed prices per share ranging from $0.020 to $0.026. The warrants have an exercise price of $0.05 per share and expire 5 years from their respective date of issuance.
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 including for CannMart Labs, a BHO extraction facility producing high margin cannabis 2.0 products; Australian Vapes, one of Australia’s largest online retailers of vaporizers and accessories; and Mikra, a biosciences and consumer wellness company developing and selling innovative therapies for cellular health.
Information on Lifeist and its businesses can be accessed through the links below:
www.australianvaporizers.com.au
Contacts
Meni Morim, Lifeist Wellness Inc., CEO
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.
The forward-looking information contained herein, including, without limitation, statements related to expectations relating to expansion intentions for cannabis brands Zest and Rilaxe and the continued growth of Roilty in other provinces, are made as of the date of this news release and is based on assumptions management believed to be reasonable at the time such statements were made including without limitation, expectations that CannMart’s expanded sales efforts for Roilty, Zest and Rilaxe will further brand recognition and increase sales which in turn will result in a greater sales presence across Canada . 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: the failure to maintain strong sales of Roilty, the inability to achieve future anticipated sales levels for Zest and Rilaxe in general through increased points of distribution, competition from other brands, unforeseen developments that would restrict CannMart’s ability to deliver Zest, Rilaxe or Roilty products as anticipated and in a timely manner, 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 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.
