Lifeist’s CannMart Reports Growth Across Popular Categories and New Product Launches
18 Maggio 2023 - 1:00PM
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 its subsidiary, CannMart Inc.
(“CannMart”), is delivering strong sales growth and product breadth
expansion from partner brands
Zest Cannabis
(“Zest”) and
Rilaxe. Zest has achieved average
store penetration of 20% across Canada, with Rilaxe achieving 30%
market penetration in Manitoba and Saskatchewan, with new SKUs
expected to launch in Ontario and Quebec by the end of the year.
“I am pleased with the progress of both Zest and
Rilaxe as they continue to experience sales growth and product
expansion in important markets and categories,” said Daniel Stern,
CEO of CannMart, Inc. “These two brands are playing an important
role driving sales for CannMart and have become valuable additions
to our growing portfolio. Zest and Rilaxe are complimentary to
CannMart’s best-selling concentrate brand, Roilty, with Zest
offering premium quality extract-infused pre-roll and Liquid
Diamond vape products, and Rilaxe with health-conscious dried fruit
edibles and soon canna-cigar Rilaxe Berri Blunts. I look forward to
continue to work with these brands to grow market share and expand
beyond traditional product categories."
“Zest and Rilaxe are great additions to CannMart’s brand
portfolio meeting internal targets and driving growth within their
respective market categories," said Meni Morim, CEO of Lifeist.
“These two leading brands are well known and cater to cannabis
connoisseurs and health-conscious enthusiast alike. We look forward
to the continued market growth and product expansion within the
cannabis business unit.”
Zest Cannabis has exhibited growth in the popular infused
pre-rolls and extract vape categories, with the following
achievements:
- Zest product sales grew at an average rate of 11%
month-over-month in April across Ontario, Alberta, Saskatchewan,
Manitoba, Northwest Territories, Nunavut and Yukon.
- Zest’s #1 selling SKU, Pink Lemon Liquid Diamond Vape, achieved
14% month-over-month growth in April in all listed provinces since
launch.
- From the brand launch, Zest has increased SKU count in the 2
largest cannabis markets:
- Alberta now offers 10 SKUs including 4 Liquid Diamond vapes and
6 infused pre-roll multipacks,
- Ontario offers 5 SKUs, including 2 Liquid Diamond vapes, 2
multi-pack infused pre-rolls, and 1 infused milled flower.
- Zest achieved store penetration of 25% in Manitoba and
Saskatchewan, while Alberta and Ontario experienced store
penetration of 16%, with a combined increase of 130 stores in the
last 15 days.
Rilaxe has also experienced success across Canada, and plans to
expand its product range by Q4 2023, including:
- The launch of 7 SKUs in Quebec early in Q4 2023, featuring
additional dried fruit and vegetable products with a 2:1 THC to CBD
ratio plus bulk CBD products.
- In Ontario, Rilaxe will expand its offerings with a retro
pop-culture inspired edibles collection, including 1:1 Sour Peach,
1:1 Sour Cherry, and an exciting spicy orange rice cracker 1:1
Spicy Firecrackers.
- Rilaxe will also enter the fast-growing canna-blunts
sub-category with their Berri Blunts (3 x 0.7G) pre-rolls.
Sources: Headset, Trellis, Ontario Cannabis Store
(OCS), and internal data.
Lifeist continues to make strides in the cannabis market through
the success of its subsidiary, CannMart Inc., and the growth of
partner brands Zest Cannabis and Rilaxe. The Company remains
dedicated to providing innovative and high-quality wellness
solutions to its consumers.
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., CEOPh:
647-362-0390Email: ir@lifeist.com
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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
additional Rilaxe SKUs in the Ontario and Quebec markets being
available by the end of calendar Q4 2023, 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 increased
product offering in Ontario will be approved by the OCS and
available for sale to consumers 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, the
inability of CannMart to sustain continued sales growth and product
expansion in general as anticipated 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.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.
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