Mr. Meni Morim reports

LIFEIST'S CANNMART SUCCESSFULLY LAUNCHES MULTI-PACK CONCENTRATES IN BRITISH COLUMBIA

Lifeist Wellness Inc. has successfully launched its premium multipack cannabis concentrate offerings in British Columbia through its Canadian cannabis business unit, CannMart Inc. 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, chief executive officer of CannMart. "Discerning consumers in B.C. highly value the convenience and value proposition of Roilty's multipacks. 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 multipack offerings are a testament to our ability to meet consumer preferences and drive growth within the cannabis market. The early accomplishment in B.C. 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 (stock keeping units), achieving a significant 44-per-cent store penetration without the support of complementary distillate vape products. Over the past 30 days, the brand has experienced a remarkable 22-per-cent increase in points of distribution. The highly anticipated launch of Roilty's multipack, featuring Catacomb Kush 0.5 gram and The Mountain Kush 0.5 gram 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 per cent. The multipacks 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 multipack 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 multipack through the OCS (Ontario Cannabis Store) 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 multipacks from Roilty, increasing the SKU count to six multipacks by the end of Q3 2023, including four general-list products, and two 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 postpandemic 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 (business-to-business) wholesale distribution business facilitating recreational cannabis sales to Canadian provincial government control boards including for CannMart Labs, a BHO (butane hash oil) extraction facility producing high-margin cannabis 2.0 products; Australian Vaporizers, one of Australia's largest on-line retailers of vaporizers and accessories; and Mikra, a biosciences and consumer wellness company developing and selling innovative therapies for cellular health.

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