CannMart to Process First International Export of Medical-Use Cannabis to Australia
19 December 2023 - 11:00PM
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 ventures that transform human wellness, today
announced that its wholly owned subsidiary CannMart Inc.
(“CannMart”) will begin exporting cannabis products to Australia,
the first international export and expansion for CannMart, in an
agreement with Aura Therapeutics Pty Ltd. (“Aura”) which includes
concentrate and live resin vapes, bulk flower, and other refined
concentrate products in the quickly developing Australian medical
cannabis industry.
"We are excited to bring a diverse range of
CannMart products to the Australian market in 2024,” said Tom Fay,
CEO of Aura Therapeutics. “We have confidence in the
anticipated growth of the Australian Medical Cannabis sector in the
coming year and believe our collaboration with
CannMart will enable us to capitalize on this expansion by
offering an extended range of high-quality products to Australian
patients.”
“Beginning our exporting journey in Australia
brings significant value and opportunities for CannMart,” said
Daniel Stern, CEO of CannMart. “By fulfilling exports in an array
of cannabis product categories, we will be able to expand revenue
streams, while also building an international brand presence for
CannMart and in-house brand Roilty concentrates.”
The export agreement with Aura will include
exclusive terms to distribute in-house brand Roilty concentrates.
With 4% of Australian medical cannabis users choosing THC extracts
as their preferred method of consumption1, it creates an
international brand-expansion opportunity and significant revenue
stream with strong margin potential for CannMart in 2024. As the
Australian regulations and guidelines surrounding medical cannabis
are like that of Canada, there will be efficacy in marketing
support and brand development, leveraging proven successes from the
Canadian market.
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
Contacts
Meni Morim, Lifeist Wellness Inc., CEO Ph:
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 brand expansion, increased revenue stream
and strong margin potential for CannMart and in particular through
the sale of in-house brand Roilty concentrates in the Australian
medical cannabis market, are based on assumptions management
believed to be reasonable at the time such statements were made,
including without limitation, that the Australian medical cannabis
industry will develop as anticipated, expectations
relating to anticipated sales of CannMart’s products, including
Roilty in particular, expectations that Roilty will gain market
acceptance, as well as other considerations that are believed to be
appropriate in the circumstances 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. 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: CannMart products, including Roilty,
failing to gain market acceptance as anticipated and in a timely
manner, the Australian medical cannabis industry failing to develop
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.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.
__________________________________
1 Statista, Aug 2023 “Usage of Cannabis products in Australia”
click here
Lifeist Wellness (TSXV:LFST)
Historical Stock Chart
From Apr 2024 to May 2024
Lifeist Wellness (TSXV:LFST)
Historical Stock Chart
From May 2023 to May 2024