TORONTO, Feb. 23, 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 its U.S. biosciences subsidiary Mikra Cellular Sciences Inc. (“Mikra”) has commenced online sales of a new and improved formulation of its flagship product CELLF at wearemikra.com. The updated formula will be the debut version to be sold at GNC at gnc.com and Amazon.com.
“We have completed production of a new and improved formulation of CELLF, and as of today, have begun selling and shipping to our customers through our DTC (direct-to-consumer) website,” said Faraaz Jamal, CEO of Mikra and COO of Lifeist. “Our loyal customers won’t believe the improvement in taste from v1. CELLF now has more convenient and environmentally friendly packaging, and is dairy-free and vegan. We’re excited to introduce this version of CELLF to our customers through our growing distribution network.”
The key improvements to CELLF include:
- Significantly better taste
- Brand new, one-handed accessible sachet design
- Protective, environmentally friendly exterior packaging
- Now dairy-free and vegan
Added Meni Morim, CEO of Lifeist, “Mikra is hitting its stride, building a portfolio of great products and establishing new distribution channels. Our confidence that Mikra will become a more meaningful contributor to Lifeist’s financial performance in 2023 has only grown. We are moving rapidly to becoming a wellness company with both nutraceutical and cannabis presence, rather than a cannabis only business, positioning Lifeist to benefit from durable, secular trends and a larger overall addressable market.”
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 Vaporizers, 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.
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 the anticipated sales of the new and improved version of CELLF at gnc.com and Amazon.com and the anticipated growing contribution to Lifeist’s financial performance resulting from such sales through Mikra’s DTC (direct-to-consumer) website and such other third party distribution channels in 2023 , 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: the new and improved version of CELLF will be available for purchase through third-party distributors, including gnc.com and Amazon.com as anticipated and in a timely manner; such product will gain market acceptance along with the expansion of the nutraceutical market; Mikra will be able to grow its distribution network for CELLF and other new products; its expectation that the market for nutraceutical products will remain strong and will continue to grow as currently anticipated; the nutraceutical market will continue to be a multi-billion dollar high-margin market; the introduction of new products, brands and distribution channels will generate additional awareness of Mikra’s existing and future products and increase revenue. 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 press release. Such factors include, without limitation: unanticipated delays in or the failure to make the new and improved version of CELLF available for distribution and sale through third-party distributors as anticipated in 2023, the Company’s inability to continue to develop Mikra’s business as a whole, including its inability to increase distribution through retail and online channels, unanticipated changes to current regulations that would adversely impact Mikra’s business, unforeseen developments that would delay Mikra’s ability to develop and sell additional nutraceutical products, the risk that the expected demand for nutraceutical products in general and those of Mikra in particular, including consumer uptake, does not develop 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 which has 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.
