LFST Lifeist Wellness Inc

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 build breakthrough companies that transform human wellness, today announced that in connection with services rendered for calendar quarter Q1 2022, the Company has issued 330,000 Deferred Share Units (DSUs) to a director. In accordance with the Company's Deferred Share Unit Plan, the DSUs were priced based on yesterday's closing price of the Company's common shares on the TSX Venture Exchange. DSUs align the interests of Company directors with shareholders as DSUs vest immediately but may not be exercised until a director ceases to serve on the Board.

Australian Vaporizers - Building Back Better

Lifeist confirms that its wholly owned subsidiary, Australian Vaporizers Pty Ltd (“Aus Vapes”), has executed a five year lease at a new location in Banyo, Queensland Australia, following recent flooding rendering existing premises unviable. The new location is larger, with improved layout, delivery bay and overall condition, setting foundations for continued growth. The Aus Vapes team is working tirelessly to return to operation by the end of April 2022. Aus Vapes enjoys a reputation for superior customer service as evidenced by its high repeat customer rate and looks forward to serving again its loyal customers.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; CannMart Labs, a BHO extraction facility for the production of high margin cannabis 2.0 products; 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.

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 the anticipated growth and improvement prospects of Aus Vapes including the timeline relating to resuming full operations. 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 of Aus Vapes to develop its business as anticipated. 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.