Mr. Meni Morim reports

LIFEIST'S CANNMART EXPANDS PRODUCT LISTINGS TO THE PROVINCE OF NEWFOUNDLAND AND LABRADOR AND SUPPORTS GROWTH TRAJECTORY THROUGH MARKETING ACTIVITIES

Lifeist Wellness Inc. has expanded its network of B2B (business-to-business) wholesale distribution to the province of Newfoundland and Labrador. CannMart Inc. will begin with products under its in-house brand, Roilty. CannMart will build from its recent success of introducing Roilty in Prince Edward Island's provincial board store network, which will also pave the way for product expansion of CannMart's second in-house brand, Zest.

"Newfoundland and Labrador is a promising market for CannMart's expansion efforts and we look to build impactful partnerships with both retailers and consumers," said Daniel Stern, chief executive officer of CannMart. "We take a strategic approach to navigate the uniqueness of each province, and the direct-to-retailer model presents new avenues to bolster our Roilty, Zest and Rilaxe brands in Newfoundland and Labrador. We will leverage the robust sales and growth records of these brands in other provinces to continue their upward trajectory."

"I am pleased to share the recent strides achieved by our subsidiary, CannMart, as they advance with new marketing initiatives to bolster new products, amplify brand visibility and extend distribution channels aligned with our ambitious sales targets," said Meni Morim, chief executive officer of Lifeist Wellness. "Building on the success of last year's Hall of Flowers, a premier cannabis trade show, CannMart presented Roilty, Zest and Rilaxe directly to retailers, which provided a valuable opportunity to engage key decision makers, cultivate relationships, and introduce our latest product releases and innovations across our in-house brands. These many initiatives underscore our commitment to growth and innovation within the evolving cannabis landscape."

By the end of Q4 2023, Roilty will have a total of 40 live SKUs (stock-keeping units) across Canada, with Zest following closely at 18 SKUs. In Prince Edward Island, the provincial board is taking on more products for its network of retail stores, with CannMart boasting nine products, including Rilaxe's coming seasonal Deez Holiday Nuts 2:1 being released in the province. Other provincial updates for September, 2023, included:

• Alberta:
  • Roilty's concentrate products maintaining 43-per-cent average growth in sale of units month over month, with Zest reporting 77-per-cent average growth month over month;
• Manitoba and Saskatchewan:
  • Roilty brand securing 212-per-cent growth year over year in the sale of units, with Zest showing strong 141-per-cent growth in units sold in these two direct-to-retailer provinces;
• Ontario:
  • Roilty's concentrate products seeing strong 57-per-cent average growth month over month in the sale of units, with Zest showing 47-per-cent month-over-month growth in units sold.

The Hall of Flowers, one of Canada's leading cannabis trade shows, was held recently for the second year in a row in Toronto, Ont., where CannMart showcased Roilty, Zest and Rilaxe directly to the largest meeting of retailers in the Canadian cannabis industry. Retailers travelled across the nation to attend the Hall of Flowers as it is a unique opportunity to build relationships directly with producers while sharing market information, new product releases and innovations across all brands and categories. CannMart was building off of last year's experience at Hall of Flowers, which resulted in a large amount of new business through networking and generating new retail relationships. This year, as a result of a significant increase in SKU count across Canada, most notably in Ontario through the Ontario Cannabis Store (OCS) general stock and flow-through models, CannMart featured Roilty, Zest Cannabis and Rilaxe high-quality products in the hall.

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 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 Vapes, 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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