Lifeist Cannabis B2B Subsidiary, CannMart Inc., Establishes Supply Agreement with Quebec Provincial Government
March 08 2022 - 7:00AM
Lifeist Wellness Inc. (“Lifeist” or the “Company”) (TSXV:
LFST) (FRANKFURT: M5B) (OTCMKTS: NXTTF), a health-tech
company that leverages advancements in science and technology to
enable you to find your path to wellness, today announced that its
wholly owned subsidiary CannMart Inc. (“CannMart”) has established
a supply agreement with the SQDC, the sole retail distributor of
licensed cannabis products in Quebec, Canada’s second most
populated province.
As a result of this
agreement, CannMart now maintains supply agreements with provincial
government cannabis control boards and retailing bodies in the
provinces of Ontario, Quebec, Alberta, British Columbia, Manitoba,
New Brunswick and Saskatchewan, and the Yukon, Northwest
Territories and Nunavut territories, constituting access to 95% of
Canada’s population.
CannMart and the SQDC
are currently negotiating purchase orders with a view to six SKUs
reaching the SQDC’s 81 and counting retail stores across Quebec by
end of summer 2022.
“This agreement
solidifies CannMart’s position as the pre-eminent nationwide
value-adding platform for the Canadian cannabis market, connecting
licensed producers and brands with provincial government control
boards and independent retailers,” said Daniel Stern, CEO of
CannMart. “Our innovative model enables CannMart to provide
tangible solutions in the Canadian cannabis supply chain.”
Added Meni Morim,
Lifeist’s Chief Executive Officer, “The CannMart B2B business is
one of Lifeist's innovative wellness assets and is uniquely
positioned to capitalize on growing consumer demand for
recreational cannabis products in Canada. We congratulate the team
for this latest achievement and look forward to Quebec's
contribution to CannMart's growing stream of revenue and gross
profits.”
About Lifeist Wellness Inc.
Sitting at the forefront of the post-pandemic
wellness revolution, Lifeist is a portfolio of wellness companies
leveraging advancements in science and technology to enable
individuals to find their personalized path to wellness. Portfolio
business units include: CannMart, which operates a B2B wholesale
distribution business facilitating recreational sales to Canadian
provincial government control boards; CannMart Labs, a BHO
extraction facility for the production of high margin cannabis 2.0
products; and the CannMart.com marketplace, which provides U.S.
customers with access to hemp-derived CBD and smoking accessories;
Australian Vapes, the country’s largest online retailer of
vaporizers and accessories; Findify, a leading AI-powered search
and discovery platform; and Mikra, a biosciences and consumer
wellness company seeking to develop innovative therapies for
cellular health and recovery.
Information on Lifeist and its businesses can be
accessed through the links below:
www.lifeist.comwww.cannmart.comwww.australianvaporizers.com.auwww.wearemikra.com
Contacts
Lifeist Wellness Inc.Meni Morim, CEOMatt
Chesler, CFA, Investor RelationsPh: 647-362-0390Email:
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
CannMart and its business including the execution of purchase
orders with the SQDC, and the expected continued growth of the
CannMart business, 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, the
anticipated continued growing demand for recreational cannabis
products in Canada, CannMart’s ability to continue to develop its
business as anticipated and increase sales through the SQDC, 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: the inability to
conclude purchase with the SQDC in accordance with the anticipated
timeline, if at all, and fulfillment difficulties of the same by
CannMart, and, if such agreements are entered into, the failure to
achieve anticipated economic benefits therefrom. 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.
Source: Lifeist Wellness Inc.
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