Mr. Meni Morim reports

LIFEIST'S CANNMART MAINTAINS MOMENTUM WITH CANNABIS CATEGORY GROWTH

Lifeist Wellness Inc. has highlighted the continued strength of CannMart Inc.'s in-house cannabis concentrate brand, Roilty, the expansion of Rilaxe Cannabis in multiple provinces across Canada and the strategic move to direct-to-retailer distribution in the province of Saskatchewan.

"As we navigate the competitive landscape of the cannabis industry, I am pleased to highlight the recent progress of CannMart including the continued growth of our in-house brand Roilty and Rilaxe product lines," said Daniel Stern, CEO of CannMart. "Roilty's growth in the cannabis concentrate market underscores our commitment to delivering exceptional products that resonate with consumers. The strategic expansion of Rilaxe from dried fruit edibles to include soft-chews and pre-roll blunts demonstrates our dedication to innovation and addressing diverse consumer preferences. Our recent strategic move to direct-to-retailer distribution in Saskatchewan has not only streamlined our distribution process but will lead to improved margins. Through the strategic allocation of our marketing and sales resources we are generating growth in a very competitive line of business. Our commitment to budtender education, active engagement, and fostering collaborative relationships with diverse retail partners is making a difference and critical to achieving long-term profitability."

Roilty's year-over-year growth has been impressive, starting from a dozen products in June 2022 and growing to over 35 SKUs by Q3 2023. A large portion of SKU expansion has been through the Ontario Cannabis Store with multi-pack offerings in the province's flow-through model selling well above the key performance indicators set by the province. With 55% market penetration across Canada and a 10% increase in points of distribution in the last 30 days, Roilty has captured more market share in the concentrate category experiencing a 70% year-over-year increase in units sold for all of Canada, led by Ontario with an 83% increase and Alberta with 56% increase in units sold.(1)

Rilaxe has also experienced substantial growth, development, and innovation, with expanded offerings tailored to each province's customer demand and needs. These product enhancements and expansions have been influenced by real-time feedback from provincial boards, retailers, and end-use consumers. Most notably, the addition of Rilaxe Berri Blunts (3 x 0.7G), as a general list SKU in the fast-growing pre-roll categories, have sold over 13,000 units since the product launched in January 2023. Additional success has come from the launch of nostalgic sour-soft chews: Rilaxe Sour Cherry 1:1 and Rilaxe Sour Peach 1:1 gummies, which launched in June 2023 and sold through the initial inventory within the first 2 weeks. With the introduction of new products, Rilaxe's store penetration has grown 51% in the last 30 days.(1)

CannMart has expanded its efforts in Saskatchewan, moving to a direct-to-retailer model creating unique sales opportunities to leverage a full portfolio of concentrates, infused pre-rolls and edibles. Owning and managing retailer relationships, which allows for more control over product launches, lifecycle management, and inventory controls, create more nimble pricing and distribution for enhanced customer experience.

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.

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