Lifeist's CannMart Successfully Launches Multi-Pack Concentrates in British Columbia
08 Juni 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 the highly successful launch of its premium
multi-pack cannabis concentrate offerings in British Columbia
through its Canadian cannabis business unit, CannMart Inc.
(“CannMart”). The introduction of Roilty Shatter multipacks in
April resulted in exceptional sales, with over 3,000 units sold.
“Our successful launch in British Columbia
further solidifies Roilty’s trajectory of robust growth, building
upon its accomplishments in Ontario, Canada's largest provincial
cannabis market," said Daniel Stern, CEO of CannMart. “Discerning
consumers in BC highly value the convenience and value proposition
of Roilty's multi-packs. Renowned for its exceptional quality and
dedication to crafting top-notch concentrates, Roilty has garnered
significant recognition. The strong reception and demand for
Roilty's multi-pack offerings are a testament to our ability to
meet consumer preferences and drive growth within the cannabis
market. The early accomplishment in BC paves the way for future
expansions and the introduction of exciting products in other
regions.”
In the British Columbia market, Roilty
exclusively offers concentrate SKUs, achieving a significant 44%
store penetration without the support of complementary distillate
vape products. Over the past 30 days, the brand has experienced a
remarkable 22% increase in points of distribution. The highly
anticipated launch of Roilty's multi-pack, featuring Catacomb Kush
0.5G and The Mountain Kush 0.5G shatters in a single package, was
met with tremendous success, with stock selling out in less than
four weeks contributing to the province's average month-over-month
growth of 26%. The multi-packs provide convenience and variety,
catering to diverse preferences and offering individuals an
opportunity to explore different cannabis experiences in a single
package.
The success of this multi-pack offering in the
province of British Columbia is mirrored in the release of the same
formats in Ontario. Initially the province took on a single
multi-pack through the OCS flow-through model which allows for
retailers to order directly from a licensed producer. The model
allows stores to curate their in-store product mix more effectively
for their consumer's needs. The OCS has taken on more multi-packs
from Roilty, increasing the SKU count to 6 multi-packs by the end
of Q3 2023, including 4 general list products, and 2 flow-through
offerings. The strong performance in both British Columbia and
Ontario has contributed to increasing gross margins for CannMart
and improved overall profitability for Lifeist.
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
ContactsMeni Morim, Lifeist
Wellness Inc., CEOPh: 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.
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 Roilty’s general growth prospects in other
provinces, 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 Roilty’s sales will remain strong and the
increased product offering in Ontario will be approved by the OCS
and available for purchase by 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, Roilty
failing to continue to achieve anticipated sales levels 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.
Lifeist Wellness (TSXV:LFST)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
Lifeist Wellness (TSXV:LFST)
Historical Stock Chart
Von Mai 2023 bis Mai 2024