Roilty has been growing steadily in Canada’s largest provincial cannabis market;
Unit sales up over 30% month-over-month;
SKUs increasing from an initial launch with three products to 16 by end of Q3 2023
TORONTO, April 06, 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 Roilty, the in-house brand of Lifeist’s subsidiary, CannMart Inc. (“CannMart”), has delivered continued sequential, month-over-month and year-over-year growth in Ontario, Canada’s largest provincial cannabis market. This is highlighted by an over 30% increase in unit sales in Ontario from Q4 2022 to Q1 2023, largely due to the expansion of SKU breadth in the province. The strong performance continues to support expanding gross margins for CannMart and is contributing to improved profitability overall for Lifeist.
Having launched in Ontario with three Roilty SKUs in July 2022, CannMart has secured approval for an additional four SKUs on the most recent provincial submission with the Ontario Cannabis Store (“OCS”), including a shatter, live resin, distillate vape and an additional multi-pack of live resin. CannMart expects to have at total of 16 Roilty SKUs in the Ontario market by the end of Q3 2023.
Roilty highlights in Ontario:
- Gained 13% in-store penetration in the last 30 days, with 27% of stores carrying one or more Roilty extract products, and 17% of stores carrying Roilty distillate vapes
- King’s Kush live resin is the 6th best-selling live resin in the concentrate subcategory, and is available in 13% of Ontario stores, up 2% over the last 30 days
- 5% market share in the live resin category, and the 7th best-selling brand with only one live resin SKU in the category against competitors with two to three SKUs each (last six months), showing the potential for rapid growth
- Newest general listing live resin multi-pack Roil Purple Berry & Priest’s Punch launched in the last two weeks and already picked up by 150 stores (available both via ocs.ca marketplace and retailers)
- 7% market share in the shatter category as the 5th best-selling brand; both Roilty shatter SKUs within the top 20 products (last three months)
CannMart CEO Daniel Stern said, “Roilty’s over 30% growth in Ontario, the largest provincial cannabis market in Canada, speaks volumes for the success and momentum the Roilty brand has garnered. We are leveraging our strong relationship with the OCS, sales trade support at the retail level, and other marketing channels, to expand Roilty across the province, and in doing so, driving higher profitability for our business. In short, Roilty’s growing adoption and larger market presence in Ontario is helping CannMart deliver on one of our key strategic priorities – profitable growth.”
“One of Roilty’s additional growth drivers stems from its positioning as a gender-neutral brand,” added Stern. “Women are the fastest growing cannabis segment across all age ranges and product categories, especially concentrates. We are leaning into this trend with education and marketing initiatives designed to engage and excite budtenders and retailers against the very masculine-brand heavy competitive set.”
Sources: Headset, Trellis, Ontario Cannabis Store (OCS), and internal data.
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.
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 16 Roilty SKUs in the Ontario market being available by the end of Q3 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 increased product offering in Ontario will be approved by the OCS and available as anticipated. 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 develop and launch for sale the said SKUs 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.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.
