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Lifeist’s CannMart delivers on expanding product portfolio in Ontario and Alberta

(Globe Newswire) Toronto — Lifeist Wellness Inc., today, provided an update on progress achieved by its Canadian cannabis business unit, which includes wholly owned subsidiaries CannMart Inc. and CannMart Labs Inc.

CannMart has continued to commercialize its in-house Roilty brand, with 22 SKUs in market across nine provinces and territories. Most of the Roilty branded products are being produced at CannMart’s 6,000 square foot BHO extraction facility in Etobicoke, Ontario.

Ontario

CannMart has completed initial shipments of its Roilty-branded shatter duo-pack in Ontario, bringing the number of Roilty products in the Ontario market to four.

The Roilty shatter duo-pack is one of the first of its kind in Ontario. Additionally, the company expects to receive a purchase order from the Ontario Cannabis Store (OCS) in January 2023 for the three new Roilty products specified in a formal notice to purchase received in September 2022, with initial shipments arriving in February 2023.

With the shipment of the three additional products, CannMart will have seven Roilty-branded products in market in Ontario, Canada’s largest province by population, by the end of February 2023.

Alberta

CannMart has received purchase orders and shipped all of the vape products stemming from the intent to purchase that it received from the Alberta Gaming, Liquor and Cannabis Commission (AGLC) in September. The product launch includes Roil Purple Berry Live Resin vape, Dragonfruit Distillate vape, and Mountain Kush shatter vape. CannMart now has 15 Roilty SKUs in market in Alberta with the AGLC.

Also in Alberta, CannMart has received a formal intent to purchase from the AGLC for THCa diamonds, the company’s fourth product category. Once a purchase order is received, CannMart will begin shipping and the number of Roilty SKUs in market in Alberta with the AGLC will increase from 15 to 16.

“CannMart’s in-house Roilty brand continues to gain traction in Canada’s two largest recreational cannabis markets, Ontario and Alberta, and with consumers across Canada.” — Daniel Stern, CEO of CannMart

“With the help of strong performance from its award-winning Roilty brand, CannMart has distinguished itself from other Canadian cannabis companies with its growth and improving profitability, and has emerged as a key driver of Lifeist’s wellness long term future.” — Meni Morim, Lifeist CEO

Share issuance related to CannMart Labs Inc. acquisition

The company intends to issue an aggregate of 3,833,570 common shares, without a hold period, as payment of the eighth tranche of the remaining base purchase price to the vendors under the share purchase agreement for the acquisition of CannMart Labs Inc.