TORONTO, Feb. 27, 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 report that its wholly owned subsidiary CannMart Inc. (“CannMart”) recorded strong unit sales growth in 2023 across both in-house brands Roilty and Zest Cannabis.
"CannMart achieved significant growth in 2023 with its in-house brands, Roilty and Zest Cannabis," said Daniel Stern, CEO of CannMart. "Roilty became the second best-selling concentrate brand in Canada, showcasing impressive unit sales and capturing additional market share across key provinces of Ontario, Alberta, and British Columbia. Zest Cannabis also outperformed market growth in Ontario and Alberta, driven by innovative products and an expanded SKU count. The brands' steady month-over-month growth and expanded distribution efforts position CannMart for continued success in 2024."
Roilty 2023 Highlights:
- The Big 3 (ON, AB, BC): 2nd best-selling concentrate brand with 13% market share,
- Ontario: 2nd in category with 11% market share with a 1154% year-over-year increase in concentrate unit sales driven by the addition of new SKUs across the provincial boards,
- Alberta: 2nd in category with 15% market share and a 334% year-over-year increase in concentrate unit sales,
- British Columbia: 4th in category with 6% market share and a 354% year-over-year increase in concentrate unit sales.
Roilty posted an average of 20% month-over-month increase in overall unit sales across the portfolio in 2023 experiencing steady brand growth and market share capture through expanded distribution efforts. It also beat industry trends across several cannabis categories in 2023, posting an 82% increase in total unit sales in 2023 versus 2022. Roilty specifically dominated in live resin and was the number one selling live resin brand in Alberta and number two in Ontario. In 2024, year-to-date, Roilty shatter sits in the number two position in both Ontario and Alberta, while sugar wax which currently ranks number one in both provinces, was number one in Alberta and number two in Ontario for 2023. In 2024 Roilty will introduce new SKUs in Ontario, Alberta and Quebec, and is expected to build upon the strong growth posted in 2023.
Zest Cannabis also showed strong growth in 2023. Unit sales for Zest pre-rolls increased in 2023 compared to 2022 driven by new product availability growing from 3 SKUs available upon the brand launch in July 2022 to 15 SKUs in December 2023. After 18 months in operation Zest has several top-performing products and ranked 34th out of 82 brands across Alberta and Ontario combined in 2023, placing Zest in the top 25% of brands by unit sales in the sub-segment for infused pre-rolls. Zest has also grown into the top 20% brand by unit sales in vapes, one of the most competitive segments in cannabis with nearly 300 brands participating.
Lifeist also reports, further to its June 30, 2023 news release, as required by the approval of the TSXV in connection with the Consulting Agreement dated June 30, 2023 entered into by the Company with Singular Narrative Management Ltd. (“Singular”) for the provision of strategic business consulting, product development, and brand marketing services to the Company as well as other services that do not include investor relations or promotional activities, that is has issued an aggregate of 4,824,528 common shares and 1,200,000 common share purchase warrants to acquire up to 1,200,000 common shares as payment to Singular of the monthly fee of $20,000 for services provided in each of the months of October, November, and December 2023, calculated in accordance with the Consulting Agreement. The common shares were issued at deemed prices per share ranging from $0.0108 to $0.015. The warrants have an exercise price of $0.05 per share and expire 5 years from their respective date of issuance.
Data Sources: Headset, ON, AB & BC markets, multiple categories and segments and other internal and 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 the introduction of new Roilty SKUs in Ontario, Alberta and Quebec and anticipated growth prospects, 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 additional product offering in the respective provinces will be developed, approved and available as anticipated and that such products will continue brand growth and market share capture and continue to maintain a strong market position in the applicable product category. 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, the 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.
