Lifeist’s CannMart Accelerates Momentum for Roilty in Saskatchewan and Manitoba Where it Sells Direct to Retailers
March 24 2023 - 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
build breakthrough companies that transform human wellness, today
announced that its subsidiary CannMart Inc.’s (“CannMart”) in-house
concentrates brand Roilty has achieved strong sales performance,
store penetration and market share gains in the two provincial
markets where it sells direct to retailers: Saskatchewan and
Manitoba.
Unlike in the large provinces such as Alberta
and Ontario where CannMart sells wholesale to provincial controlled
regulatory agencies, in Saskatchewan and Manitoba CannMart can sell
direct to retailers through provincial sales and key account
managers. Collectively, these two provincial markets account for
approximately one-third of CannMart’s gross sales.
Roilty highlights in Saskatchewan, February 2022 to February
2023 are:
- Dollar sales increased 90%
year-over-year
- SKU count has increased from 8 to
24
- Roilty has secured 70% store
penetration, available in 110 of 157 cannabis stores
- Roilty’s overall market share has
grown from 4% to 10% currently; including 65% market share in the
shatter category, 37% in the live resin category, and 100% of the
sugar wax category
Roilty highlights in Manitoba, February 2022 to February 2023
are:
- Dollar sales have grown 252%
year-over-year
- SKU count has increased from 4 to
21
- Roilty has secured 86% store
penetration, available in 144 of 167 cannabis stores
CannMart CEO Daniel Stern said, “These kinds of
gains aren’t made overnight, and it’s because of hard work and
strong relationship management in these unique provinces that
Roilty has been able to thrive. Working directly with retailers has
been a great opportunity for the Roilty brand to develop, because
it allows for ample conversations and feedback in real time. That
qualitative data helps us immeasurably across the customer facing
and internal departments at CannMart.”
Added Meni Morim, CEO of Lifeist, “CannMart
continues to deliver for Lifeist across the provincial markets.
This strong performance is helping Lifeist make progress on its
path to profitability.”
Roilty’s success in the prairie provinces is
attributable to CannMart having forged strong working relationships
with hundreds of retailers in the provinces. This includes with
organizations such as the Weed Pool Cannabis Cooperative and the
Independent Retail Cannabis Collective (IRCC) which has enabled
CannMart to access even more of the independent retailers across
the provinces.
Sources: Internal & third-party data, February 2022 to
February 2023.
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.comhttps://cannmart.comhttps://www.roilty.cohttps://wearemikra.com/www.australianvaporizers.com.au
Contacts
Meni Morim, Lifeist Wellness Inc., CEOMatt
Chesler, CFA, FNK IR, 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.
Source: Lifeist Wellness Inc.
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