Lifeist’s CannMart Expands Product Listings to the Province of Newfoundland and Labrador and Supports Growth Trajectory Through Marketing Activities
12 Octobre 2023 - 1:00PM
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 FlowersAbout 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.
Lifeist Wellness (TSXV:LFST)
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