TORONTO, Feb. 22, 2023 (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 that CannMart’s in-house brand, Roilty, has secured significant market share gains in Alberta, Ontario and the Prairies at one of Canada’s largest cannabis retailers.
Roilty performance highlights across Canada:
- Ranked #1 overall concentrates brand across British Columbia, Alberta, Ontario, Saskatchewan and Manitoba
- Ranked 3rd best selling live resin brand in Alberta, 9th in Ontario and 1st in Saskatchewan
- Ranked 5th best selling shatter brand in Alberta, 7th in Ontario and 1st in Saskatchewan
Notably, Roilty has become the most popular overall brand in concentrates in one of Canada’s largest retailer networks, with 23% market share in the premium concentrates sub-category (live resin, diamonds), and 28% market share in the mid-range sub-category (shatter, sugar wax). Roilty live resin has three SKUs in Alberta, capturing 16% market share; and with only one live resin SKU in Ontario Roilty has 5% market share in the sub-category, and 30% in Saskatchewan with five SKUs. Roilty shatter products have 4% market share in Alberta and Ontario, most notably with only one SKU in Ontario, the Roilty Shatter Pack which launched in December 2022, and 50% market share with four SKUs in Saskatchewan.
On average live resin is growing unit sales by 97% month over month (MoM) across Alberta, Ontario and Saskatchewan. Additionally, Shatter is growing 38%, and Distillate and BHO Carts are growing 10%.
“Roilty’s success is being driven by our ability to cultivate strong relationships with the provincial boards and our high velocity to market with new products,” commented Daniel Stern, CEO of CannMart. “We have substantially expanded our portfolio assortment in the premium and mid-range concentrates categories in Alberta and Ontario, serving as a strong complement to our popular vape offerings. Notably, we’ve risen to the top of the retailer rankings despite not having a presence in the largest two categories of dried flower and pre-rolls as most others do, shining light on the strong brand loyalty and trust that Roilty is garnering among consumers, budtenders, retailers and provincial buyers.”
Added Lifeist CEO Meni Morim, “We credit Daniel and his team for building Roilty from scratch to Canada’s top concentrate brand in less than two years. During this time, Lifeist has made significant strides in improving its profitability, and a large part of this is due to CannMart’s focus on higher margin opportunities such as Roilty and the success they have had.”
Sources: third party data and internal CannMart data and analysis
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.lifeist.com
https://cannmart.com
https://www.roilty.co
https://wearemikra.com/
www.australianvaporizers.com.au
Contacts
Meni Morim, Lifeist Wellness Inc., CEO
Matt Chesler, CFA, FNK IR, Investor Relations
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.
Source: Lifeist Wellness Inc.
