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CannMart reports growth in key markets of Alberta and Ontario with in-house brand roilty ranking as the second best-selling concentrate in 2023

(Globe Newswire) Toronto — Lifeist Wellness Inc., a health-tech company that leverages advancements in science and technology to build breakthrough ventures that transform human wellness, is pleased to report that its wholly owned subsidiary CannMart Inc. recorded strong unit sales growth in 2023 across both in-house brands Roilty and Zest Cannabis.

“CannMart achieved significant growth in 2023 with its in-house brands, Roilty and Zest Cannabis,” said Daniel Stern, CEO of CannMart. “Roilty became the second best-selling concentrate brand in Canada, showcasing impressive unit sales and capturing additional market share across key provinces of Ontario, Alberta, and British Columbia. Zest Cannabis also outperformed market growth in Ontario and Alberta, driven by innovative products and an expanded SKU count. The brands’ steady month-over-month growth and expanded distribution efforts position CannMart for continued success in 2024.”

Roilty 2023 Highlights:

• The Big 3 (ON, AB, BC): second best-selling concentrate brand with 13 per cent market share,
• Ontario: second in category with 11 per cent market share with a 1154 per cent year-over-year increase in concentrate unit sales driven by the addition of new SKUs across the provincial boards,
• Alberta: second in category with 15 per cent market share and a 334 per cent year-over-year increase in concentrate unit sales,
• British Columbia: fourth in category with 6 per cent market share and a 354 per cent year-over-year increase in concentrate unit sales.

Roilty posted an average of 20 per cent month-over-month increase in overall unit sales across the portfolio in 2023 experiencing steady brand growth and market share capture through expanded distribution efforts. It also beat industry trends across several cannabis categories in 2023, posting an 82 per cent increase in total unit sales in 2023 versus 2022. Roilty specifically dominated in live resin and was the number one selling live resin brand in Alberta and number two in Ontario.

In 2024, year-to-date, Roilty shatter sits in the number two position in both Ontario and Alberta, while sugar wax which currently ranks number one in both provinces, was number one in Alberta and number two in Ontario for 2023. In 2024 Roilty will introduce new SKUs in Ontario, Alberta and Quebec, and is expected to build upon the strong growth posted in 2023.

Zest Cannabis also showed strong growth in 2023. Unit sales for Zest pre-rolls increased in 2023 compared to 2022 driven by new product availability growing from 3 SKUs available upon the brand launch in July 2022 to 15 SKUs in December 2023. After 18 months in operation Zest has several top-performing products and ranked 34th out of 82 brands across Alberta and Ontario combined in 2023, placing Zest in the top 25 per cent of brands by unit sales in the sub-segment for infused pre-rolls. Zest has also grown into the top 20% brand by unit sales in vapes, one of the most competitive segments in cannabis with nearly 300 brands participating.

Lifeist also reports, further to its June 30, 2023 news release, as required by the approval of the TSXV in connection with the Consulting Agreement dated June 30, 2023 entered into by the Company with Singular Narrative Management Ltd. 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, that is has issued an aggregate of 4,824,528 common shares and 1,200,000 common share purchase warrants to acquire up to 1,200,000 common shares as payment to Singular of the monthly fee of $20,000 for services provided in each of the months of October, November, and December 2023, calculated in accordance with the Consulting Agreement. The common shares were issued at deemed prices per share ranging from $0.0108 to $0.015. The warrants have an exercise price of $0.05 per share and expire 5 years from their respective date of issuance.