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, today
announced that its subsidiary CannMart Inc. (“CannMart”) has made a
landmark shipment of premium cannabis products to Australia,
including vape carts plus two extracts from its own Roilty brand.
In December 2023 CannMart announced its intention to begin
exporting cannabis products to Australia, through an agreement with
Aura Therapeutics Pty Ltd. (“Aura”) to include concentrate and vape
carts, bulk flower, and other refined concentrate products in the
quickly developing Australian medical cannabis industry. This
milestone shipment represents a significant achievement for
CannMart, as it expands its presence beyond Canadian borders and
enters the large and growing Australian medical cannabis market.
“The export of cannabis products to Australia
underscores CannMart’s commitment to expanding its footprint beyond
Canadian borders and catering to the evolving needs of medical
cannabis patients worldwide,” said Daniel Stern, CEO of CannMart.
“These high-margin products are poised to make a significant impact
in the Australian medical cannabis market, which continues to
experience substantial growth and demand for quality cannabis
products. The launch of our own Roilty products in Australia also
marks a significant milestone in our international expansion
strategy.”
Australia boasts a large and growing medical
cannabis market, with increasing demand for high-quality cannabis
products to address various medical conditions. By entering this
market, CannMart aims to meet the needs of Australian patients and
contribute to the advancement of medical cannabis access and
awareness.
One of the foremost advantages of exporting
CannMart products to Australia is the absence of Canadian excise
taxes on export products. This allows CannMart to offer its
high-margin cannabis products at competitive prices, further
enhancing its appeal to Australian consumers.
CannMart products are meticulously crafted to
meet stringent quality standards, ensuring consistency efficacy for
patients seeking relief from various medical conditions. The Roilty
brand is known for its exceptional quality and potency, making it a
preferred choice among discerning cannabis consumers in Canada and
now in Australia. With its inaugural launch in Australia, CannMart
and its brand Roilty are poised to capture the attention of medical
cannabis patients seeking premium-grade products for therapeutic
use in other global markets.
CannMart remains committed to upholding the
highest standards of quality, safety, and efficacy in its cannabis
products, ensuring that patients have access to reliable and
effective treatment options. As the global cannabis market
continues to evolve, CannMart is dedicated to exploring new
opportunities for growth and innovation, while remaining steadfast
in its mission to improve the well-being of individuals
worldwide.
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: Mikra, a biosciences
and consumer wellness company developing and selling innovative
products for cellular health; 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; and Australian Vapes, one of Australia’s
largest online retailers of vaporizers and accessories.
Information on Lifeist and its businesses can be
accessed through the links below:
www.lifeist.com https://wearemikra.com/
https://cannmart.com www.australianvaporizers.com.au
Contact: Meni MorimCEOLifeist
Wellness Inc.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
expected impact of CannMart’s products in the Australian medical
cannabis market and general expectations relating to the Company’s
international expansion strategy, are based on assumptions
management believed to be reasonable at the time such statements
were made, including without limitation, that the Australian
medical cannabis industry will develop as
anticipated, expectations relating to
anticipated sales of CannMart’s products, including Roilty in
particular, expectations that Roilty will gain market acceptance,
as well as other considerations that are believed to be appropriate
in the circumstances 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. 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 growth and
demand for quality cannabis products in Australia not being as
anticipated, the failure of CannMart’s premium cannabis products to
gain market acceptance as anticipated, the Australian medical
cannabis market’s failure to continue to develop and grow, in a
timely manner, if at all, the Company’s failure to develop its
Cannabis business in Australia as anticipated and to realize on the
anticipated benefits therefrom, unanticipated changes to current
regulations that would adversely impact its business in Australia,
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.
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