TORONTO, Oct. 12, 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, reported today that it has expanded its network of B2B wholesale distribution to the province of Newfoundland and Labrador. CannMart will begin with products under its in-house brand Roilty. CannMart will build from its recent success of introducing Roilty in Prince Edward Island’s provincial board store network which will also pave the way for product expansion of CannMart’s second in-house brand Zest.
"Newfoundland and Labrador is a promising market for CannMart's expansion efforts and we look to build impactful partnerships with both retailer and consumers," said Daniel Stern, CEO of CannMart Inc. “We take a strategic approach to navigate the uniqueness of each province, and the direct-to-retailer model presents new avenues to bolster our Roilty, Zest, and Rilaxe brands in Newfoundland and Labrador. We will leverage the robust sales and growth records of these brands in other provinces, to continue their upward trajectory."
"I am pleased to share the recent strides achieved by our subsidiary CannMart, as they advance with new marketing initiatives to bolster new products, amplify brand visibility, and extend distribution channels aligned with our ambitious sales targets,” said Meni Morim, CEO of Lifeist Wellness. “Building on the success of last year's Hall of Flowers, a premier cannabis tradeshow, CannMart presented Roilty, Zest, and Rilaxe directly to retailers which provided a valuable opportunity to engage key decision-makers, cultivate relationships, and introduce our latest product releases and innovations across our in-house brands. These many initiatives underscore our commitment to growth and innovation within the evolving cannabis landscape."
By the end of Q4 2023, Roilty will have a total of 40 live SKUs across Canada, Zest following closely at 18 SKUs. In Prince Edward Island, the provincial board is taking on more products for their network of retail stores with CannMart boasting 9 products including Rilaxe’s upcoming seasonal Deez Holiday Nuts 2:1 being released in the province. Other provincial updates for September 2023 included:
Alberta
- Roilty’s concentrate products maintains 43% average growth in sale of units month-over-month (MoM); Zest reporting 77% avg growth MoM.
Manitoba & Saskatchewan
- Roilty brand securing 212% growth year-over-year (YoY) in the sale of units; Zest showing strong 141% growth in units sold in these two direct-to-retailer provinces.
Ontario
- Roilty’s concentrate products seeing strong 57% average growth MoM in [the sale of] units; Zest showing 47% MoM growth in units sold.
The Hall of Flowers, one of Canada’s leading Cannabis Tradeshows(1), was held recently for the 2nd year in a row in Toronto, Ontario, where CannMart showcased Roilty, Zest and Rilaxe directly to the largest meeting of retailers in the Canadian cannabis industry. Retailers travelled across the nation to attend the Hall of Flowers as it is a unique opportunity to build relationships directly with producers while sharing market information, new product releases, and innovations across all brands and categories. CannMart was building off of last years’ experience at Hall of Flowers which resulted in a large amount of new business through networking and generating new retail relationships. This year, as a result of a significant increase in SKU count across Canada, most notably in Ontario through the Ontario Cannabis Store (OCS) general stock and flow-through models, CannMart featured Roilty, Zest Cannabis and Rilaxe high-quality products in the Hall.
Data Source: Internal sales data and 3rd party cannabis data
(1) Toronto — Hall of Flowers
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
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 growth expectations and expansion efforts relating to Roilty and other in-house brands, including the anticipated number of Roilty and Zest SKUs by the end of the fourth quarter, 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 will be available as anticipated and will increase sales as expected. 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.
