Mr. Meni Morim reports

LIFEIST TERMINATES AGREEMENT FOR SALE OF AUSTRALIAN VAPES

Lifeist Wellness Inc. has terminated the share purchase agreement entered into on Sept. 17, 2023, with Flora Growth Corp., to divest and sell Australian Vaporizers Pty. Ltd., its wholly owned Australian subsidiary, to Flora. The transaction and its details were previously disclosed in a news release dated Sept. 18, 2023, a copy of which can be found on SEDAR+ under the company's profile. The SPA was terminated, in accordance with its terms, effective Oct. 20, 2023, the agreed-upon closing date for the completion of the transaction, as a result of a certain condition precedent which must be fulfilled at or before the closing not being fulfilled, thereby allowing either party to terminate the SPA, which the company was obligated to do in the circumstances.

"While we weren't able to proceed with this particular transaction, we continue to explore opportunities that will enhance our position as a leader in the wellness market," said Meni Morim, chief executive officer of Lifeist. "In parallel, we will continue to operate Australian Vaporizers and accelerate plans to increase its growth."

Lifeist remains dedicated to its mission of delivering wellness solutions and will continue to pursue opportunities that drive its long-term vision forward.

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 business-to-business 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 on-line retailers of vaporizers and accessories; and Mikra, a bioscience and consumer wellness company developing and selling innovative therapies for cellular health.