CannMart to Expand Roilty Product Portfolio to Include Craft and Solventless Offerings
February 09 2024 - 7:00AM
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, is
pleased to announce that its wholly owned subsidiary CannMart Inc.
(“CannMart”) is introducing ‘live resin reserve’ and its first
mechanical or solventless concentrate through in-house brand
Roilty. Live resin reserve represents a premium and exclusive
concentrate made in small batches, boasting only fresh frozen
cannabis flower from small craft and micro-growers in Quebec.
Roilty’s first mechanical and solventless concentrate comes in the
form of black hash and it joins a small number of leading brands
that offer solventless products. Both live resin reserve and
solventless concentrates represent a significant accomplishment for
Roilty, underscoring CannMart’s commitment to innovation while
seeking out value propositions in the concentrate category.
“We take pride in our commitment to closely
listen to both retailers and customers, allowing us to innovate to
meet their needs and keep them excited about our products," said
Daniel Stern, CEO of CannMart. “This commitment has been the
driving force in the evolving product pipeline with Roilty,
allowing us to manage the portfolio effectively and adapt as tastes
of the market shifts. By introducing live resin reserve products
sourced from Quebec's craft cultivators and micro-growers, we
elevate our market presence with a premium offering and leverage
the established trust in Roilty's brand. Plus, the expansion of our
solventless hash offering speaks to the enduring preference for
this legacy product, a customer demand that the Roilty brand can
now answer.”
Roilty’s live resin reserve will be available as
full-time SKUs, adding to Roilty’s impressive growth in the live
resin segment. Roilty’s first live resin reserve Grape Galena will
be available to Ontario customers through Ontario Cannabis Store
(OCS) flow-through in late February 2024 and Roilty’s Banana Ice
Live Resin will be available through OCS in June 2024.
Roilty’s Blacksmith Hash was made available in
Alberta AGLC, Saskatchewan, and Manitoba in Q4 2023, and will be
available in OCS flow-through in late February 2024. Initial sales
of Blacksmith Hash in the western provinces have been notable, with
strong distribution in the first 60 days of launch. In the key
markets of Ontario, Alberta, and British Columbia the total amount
of sales for hash was $47.5 million in 2023, accounting for up to
35% of the concentrate category, highlighting a strategic
opportunity for an already established concentrate brand1.
1 Data Source: Headset & other 3rd party data
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 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://wearemikra.com www.australianvaporizers.com.au
ContactsMeni Morim, Lifeist
Wellness Inc., CEOPh: 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
expectations relating to the anticipated availability for purchase
through OCS of the named live resin and hash products, 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 said
products in Ontario will be available as anticipated. 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.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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