TORONTO, Feb. 09, 2024 (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, is pleased to announce that its wholly owned subsidiary CannMart Inc. (“CannMart”) is introducing ‘live resin reserve’ and its first mechanical or solventless concentrate through in-house brand Roilty. Live resin reserve represents a premium and exclusive concentrate made in small batches, boasting only fresh frozen cannabis flower from small craft and micro-growers in Quebec. Roilty’s first mechanical and solventless concentrate comes in the form of black hash and it joins a small number of leading brands that offer solventless products. Both live resin reserve and solventless concentrates represent a significant accomplishment for Roilty, underscoring CannMart’s commitment to innovation while seeking out value propositions in the concentrate category.
“We take pride in our commitment to closely listen to both retailers and customers, allowing us to innovate to meet their needs and keep them excited about our products," said Daniel Stern, CEO of CannMart. “This commitment has been the driving force in the evolving product pipeline with Roilty, allowing us to manage the portfolio effectively and adapt as tastes of the market shifts. By introducing live resin reserve products sourced from Quebec's craft cultivators and micro-growers, we elevate our market presence with a premium offering and leverage the established trust in Roilty's brand. Plus, the expansion of our solventless hash offering speaks to the enduring preference for this legacy product, a customer demand that the Roilty brand can now answer.”
Roilty’s live resin reserve will be available as full-time SKUs, adding to Roilty’s impressive growth in the live resin segment. Roilty’s first live resin reserve Grape Galena will be available to Ontario customers through Ontario Cannabis Store (OCS) flow-through in late February 2024 and Roilty’s Banana Ice Live Resin will be available through OCS in June 2024.
Roilty’s Blacksmith Hash was made available in Alberta AGLC, Saskatchewan, and Manitoba in Q4 2023, and will be available in OCS flow-through in late February 2024. Initial sales of Blacksmith Hash in the western provinces have been notable, with strong distribution in the first 60 days of launch. In the key markets of Ontario, Alberta, and British Columbia the total amount of sales for hash was $47.5 million in 2023, accounting for up to 35% of the concentrate category, highlighting a strategic opportunity for an already established concentrate brand1.
1 Data Source: Headset & other 3rd party 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://wearemikra.com
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 the anticipated availability for purchase through OCS of the named live resin and hash products, 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 said products in Ontario will be 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.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.
