Lifeist Wellness Portfolio Company CannMart Labs Commences Commercialization of House Brands
November 04 2021 - 7:00AM
Lifeist Wellness Inc. (
“Lifeist” or the
“Company”)
(TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS:
NXTTF), a wellness company that leverages advancements in
science and technology to enable you to find your path to wellness,
announced today that portfolio business and wholly owned subsidiary
CannMart Labs Inc. (“Labs”) has successfully produced its first
manufactured products under the 2.0 consumer-focused house brand
“Roilty” and has begun commercialization. The commercialization of
proprietary house brands is a key part of the Labs’ strategy to
introduce a larger portfolio of higher margin cannabis 2.0 products
to the Canadian market as part of Lifeist’s transition to
profitable growth.
The Company has received several initial
purchase orders from retail customers in Saskatchewan where the
path to market is quickest due to the fewer regulatory complexities
in the province. The remainder of this limited edition run of
product SKUs is anticipated to be sold to the Alberta provincial
distributor, which has already pre-approved the products and is
concluding a multi-week registration process prior to issuance of a
purchase order, as well as becoming available to purchase at
CannMart.com by medical customers this month.
“Our state-of-the-art BHO extraction facility is
now live, manufacturing and shipping product, and negotiating
numerous recreational sales agreements leveraging our sister
company CannMart Inc.’s network of provincial customers,” said
Daniel Stern, CEO of Labs. “Our first SKUs are exceptionally
high-quality live resin products and show strong early interest
from prospective customers. Now that we have reached this
long-awaited milestone, we look forward to the next manufacturing
run, broadening distribution to the larger provinces, and launching
other Roilty-branded and higher margin cannabis 2.0 products such
as shatter and sugar wax in 2022. It’s also worth noting that an
initial order for the Roilty-branded vape pen, Henry the Grape Ape,
that was manufactured by a co-packer sold through CannMart Inc.
into Alberta, sold out within seven days and additional quantities
have been ordered to meet demand.”
Labs operates a 6,000 square foot,
state-of-the-art facility in Etobicoke, Ontario that is licensed by
Health Canada for “standard processing.” It is purpose-built for
oil extraction and incorporates leading technology designed to meet
EU Good Manufacturing Practice (EU-GMP) certification requirements,
making it one of only a few facilities in Canada with such
capabilities. The facility is capable of producing cannabis
extracts, both in-house branded products and products processed for
third parties, which include shatter, live resin, badder, wax and
others, with potential to expand future distillate product
offerings to vape cartridges, gel capsules, tinctures and edibles.
In addition, the product roadmap also includes adding solventless
products such as rosin to its portfolio.
About Lifeist Wellness
Inc.Lifeist is at the forefront of the post-pandemic
wellness revolution requiring smart solutions. Lifeist is a
portfolio wellness company leveraging advancements in science and
technology to enable you to find your path to wellness. Portfolio
business units include: CannMart.com that provides Canadian medical
customers with a diverse selection of cannabis products from a
multitude of federally licensed cultivators and its U.S. customers
with access to hemp-derived CBD and smoking accessories; and
CannMart’s Canadian recreational cannabis distribution business
facilitating recreational sales to a number of provincial
government control boards. The Company is set to launch a new
nutraceuticals division in this fourth quarter of 2021 with
disruptive products in wellness.
Information on the Company and its many products
can be accessed through the links below:
www.lifeist.comwww.CannMart.comwww.everyonedoesit.co.uk
Contacts
Lifeist Wellness Inc.Meni Morim, CEOMatt
Chesler, CFA, Investor RelationsPh: 647-362-0390Email:
ir@lifeist.com
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 the anticipated launch of a nutraceutical division in
this fourth quarter of 2021 and the anticipated introduction and
sale of a larger portfolio of higher margin cannabis 2.0 products
to the Canadian market as part of Lifeist’s transition to
profitable growth are only predictions and are made as of the date
of this news release. Various assumptions were used in developing
the forward-looking information throughout this news release which
management believed to be reasonable at the time such statements
were made, including, without limitation, expectations that the
introduction of a new nutraceutical division and additional
cannabis 2.0 products, including Roilty-branded products, will
generate additional revenue, Lifeist’s beliefs regarding the
expected demand for nutraceutical products and cannabis 2.0
products and the expected growth of those markets, results of
operations, operational matters, historical trends, current
conditions and expected future developments, as well as other
considerations that are believed to be appropriate in the
circumstances. 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 press release. Such factors
include, without limitation: unforeseen developments that would
delay the Company’s ability to launch its nutraceutical division
and to produce additional cannabis 2.0 products as anticipated and
in a timely manner and the benefits realizable therefrom, risks
relating to the Company’s ability to develop and execute its
business strategy and risks specifically related to the Company’s
operations. Additional risk factors can also be found in the
Company’s current MD&A and annual information form, both of
which have been 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.
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.
Source: Lifeist Wellness Inc.
Lifeist Wellness (TSXV:LFST)
Historical Stock Chart
From Aug 2024 to Sep 2024
Lifeist Wellness (TSXV:LFST)
Historical Stock Chart
From Sep 2023 to Sep 2024