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 companies that transform human wellness, is
pleased to announce that it has entered into a Consulting Agreement
(the "Agreement") with Singular Narrative Management Ltd.
("Singular"), an arm's length party, for the provision of strategic
business consulting, product development, and brand marketing
services to the Company as well as other services that do not
include investor relations or promotional activities (the
“Services”). The Agreement is for an initial term of 6 months and
may be terminated by either party with 30-days’ prior notice and is
automatically renewable thereafter for additional one-month periods
unless otherwise terminated by either party.
"Our agreement with Singular encompasses both existing product
marketing efforts and the integration of new product introductions
into the Lifeist product line this year,” said Meni Morim, CEO of
Lifeist Wellness. “It is important to note that this is a
performance-based arrangement with compensation in the form of
restricted securities, aligning the interests of consultants with
Lifeist and its shareholders. We also maintain the right to
terminate the agreement if the direction, pace, or productivity of
the relationship does not meet our expectations. This initiative
reflects our commitment to driving results, improving
profitability, and enhancing shareholder value."
Pursuant to the Agreement, the Company shall pay a monthly fee
of $20,000 to Singular for the provisions of the Services, after
such services have been provided, to be satisfied in common shares
(“Shares”) of the Company and common share purchase warrants
(“Warrants”), with the number of Shares and Warrants issuable to
Singular calculated based on dividing $20,000 by the 5-day
volume-weighted average price (“WVAP”) of the Shares for the last 5
trading days of each calendar month during which the Services are
provided. The exercise price of the Warrants shall equal the
greater of the “Market Price” (as defined in Policy 1.1 of the
TSXV) on the trading day prior to the date of issuance of the
Warrants and $0.05 and the Warrants expire 5 years from the date of
issuance.
The Agreement and payment thereunder which constitutes a Shares
for Services transaction under the policies of the TSXV has
received the conditional acceptance of the TSXV but remains subject
to the final acceptance of the TSXV.
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://www.roilty.co https://wearemikra.com/
www.australianvaporizers.com.au
Contacts Meni Morim, Lifeist
Wellness Inc., CEO Ph: 647-362-0390 Email: ir@lifeist.com
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
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.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation. These statements relate to future events or future
performance. The use of any of the words “could”, “intend”,
“expect”, “believe”, “will”, “projected”, “estimated” and similar
expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on the Company’s current belief or
assumptions as to the outcome and timing of such future events.
The forward-looking information and
forward-looking statements contained herein include, but are not
limited to, statements regarding: the Company’s goal to leverage
advancements in science and technology to build breakthrough
companies that transform and revolutionize human wellness; the
proposed benefits, terms, and timeline with respect to Acquisition,
including, the Acquisition marking a significant milestone for the
Company’s expansion strategy, serving as another crucial step in
establishing the Company as a leading health-tech company, aligning
the Company’s core categories and further solidifies its position
in the market, and representing a considerable opportunity for the
Company to make material contributions to its topline and gross
profit; CannMart’s anticipated focus on rapidly expanding and
growing Zest’s market share in the markets CannMart currently
serves; the anticipated sale of vapes to generate additional
revenue streams for the Company through prospective royalty and
licencing agreements; the anticipated benefits of the Zest brand
and products to the Company, including, the seamless integration
the brand and products with the Company and its affiliates, the
accelerated growth in both top-line revenue and gross profit for
the Company’s Cannabis division, and that growth can be achieved
without the need for additional capital expenditure or operating
expenses; the Company’s expectations that the Acquisition can
continue to drive growth and achieve similar results to its Roilty
brand; the Company’s focus on continuing its expansion with plans
to increase the number of products available in Ontario to 14 by
the end of Q3 2023; the Company’s plans to expand the geographical
availability of Zest and new product lines for Zest as part of the
Company’s commitment to delivering innovative and exceptional
cannabis products to consumers nationwide; the Company’s current
and future product offerings and number of SKUs available; the
receipt of the TSXV’s approval, satisfaction of customary
conditions of closing, and the completion of the Acquisition under
the timeline stated, including the deposit and release of the
Escrowed Shares pursuant to the terms of the escrow agreement.
Forward-looking information in this press
release are based on certain assumptions and expected future
events, which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements, and those assumptions and expected
future events include, but are not limited to: the Company’s
ability to leverage advancements in science and technology to build
breakthrough companies that transform and revolutionize human
wellness; the Company’s ability to realize upon the proposed
benefits, terms, and timeline with respect to Acquisition,
including, the Acquisition marking a significant milestone for the
Company’s expansion strategy, serving as another crucial step in
establishing the Company as a leading health-tech company, aligning
the Company’s core categories and further solidifies its position
in the market, and representing a considerable opportunity for the
Company to make material contributions to its topline and gross
profit; CannMart will continue to focus on rapidly expanding and
growing Zest’s market share in the markets CannMart currently
serves; the Company’s ability to capitalize upon the anticipated
sale of vapes and generate additional revenue streams for the
Company through prospective royalty and licencing agreements; the
Company’s ability to realize upon the anticipated benefits of the
Zest brand and products to the Company, including, the seamless
integration the brand and products with the Company and its
affiliates, the accelerated growth in both top-line revenue and
gross profit for the Company’s Cannabis division, and that growth
can be achieved without the need for additional capital expenditure
or operating expenses; the Company’s ability to realize upon its
expectations that the Acquisition will continue to drive growth and
achieve similar results to its Roilty brand; the Company’s ability
to focus on continuing its expansion and carry out its plans to
increase the number of products available in Ontario to 14 by the
end of Q3 2023; the Company’s ability to carry out its plans to
expand the geographical availability of Zest and new product lines
for Zest as part of the Company’s commitment to delivering
innovative and exceptional cannabis products to consumers
nationwide; the Company’s ability to maintain, develop, and expand
its current and future product offerings and number of SKUs
available; the Company’s ability to obtain receipt of the TSXV’s
approval, satisfy of customary conditions of closing, and the
complete of the Acquisition under the timeline stated, including
the deposit and release of the Escrowed Shares pursuant to the
terms of the escrow agreement.
These statements involve known and unknown
risks, uncertainties and other factors, which may cause actual
results, performance or achievements to differ materially from
those expressed or implied by such statements, including but not
limited to: the Company’s inability to leverage advancements in
science and technology to build breakthrough companies that
transform and revolutionize human wellness; the Company’s inability
to realize upon the proposed benefits, terms, and timeline with
respect to Acquisition, including, the Acquisition marking a
significant milestone for the Company’s expansion strategy, serving
as another crucial step in establishing the Company as a leading
health-tech company, aligning the Company’s core categories and
further solidifies its position in the market, and representing a
considerable opportunity for the Company to make material
contributions to its topline and gross profit; CannMart’s inability
to continue to focus on rapidly expanding and growing Zest’s market
share in the markets CannMart currently serves; the Company’s
inability to capitalize upon the anticipated sale of vapes and
generate additional revenue streams for the Company through
prospective royalty and licencing agreements; the Company’s
inability to realize upon the anticipated benefits of the Zest
brand and products to the Company, including, the seamless
integration the brand and products with the Company and its
affiliates, the accelerated growth in both top-line revenue and
gross profit for the Company’s Cannabis division, and that growth
can be achieved without the need for additional capital expenditure
or operating expenses; the Company’s inability to realize upon its
expectations that the Acquisition will continue to drive growth and
its inability to achieve similar results to its Roilty brand; the
Company’s inability to focus on continuing its expansion and carry
out its plans to increase the number of products available in
Ontario to 14 by the end of Q3 2023; the Company’s inability to
carry out its plans to expand the geographical availability of Zest
and new product lines for Zest as part of the Company’s commitment
to delivering innovative and exceptional cannabis products to
consumers nationwide; the Company’s inability to maintain, develop,
and expand its current and future product offerings and number of
SKUs available; the Company’s inability to obtain receipt of the
TSXV’s approval, satisfy of customary conditions of closing, and
the complete of the Acquisition under the timeline stated,
including the deposit and release of the Escrowed Shares pursuant
to the terms of the escrow agreement.
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