Mr. Daniel Stern reports

CANNMART REPORTS GROWTH IN KEY MARKETS OF ALBERTA AND ONTARIO WITH IN-HOUSE BRAND ROILTY RANKING AS THE SECOND BEST-SELLING CONCENTRATE IN 2023

Lifeist Wellness Inc.'s wholly owned subsidiary CannMart Inc. recorded strong unit sales growth in 2023 across both in-house brands Roilty and Zest Cannabis.

"CannMart achieved significant growth in 2023 with its in-house brands, Roilty and Zest Cannabis," said Daniel Stern, chief executive officer of CannMart. "Roilty became the second bestselling concentrate brand in Canada, showcasing impressive unit sales and capturing additional market share across key provinces of Ontario, Alberta and British Columbia. Zest Cannabis also outperformed market growth in Ontario and Alberta, driven by innovative products and an expanded SKU count. The brands' steady month-over-month growth and expanded distribution efforts position CannMart for continued success in 2024."

Roilty 2023 highlights:

• The big three (Ontario, Alberta, B.C.): second bestselling concentrate brand with 13-per-cent market share;
• Ontario: second in category with 11-per-cent market share with a 1,154-per-cent year-over-year increase in concentrate unit sales driven by the addition of new stock-keeping units (SKUs) across the provincial boards;
• Alberta: second in category with 15-per-cent market share and a 334-per-cent year-over-year increase in concentrate unit sales;
• British Columbia: fourth in category with 6-per-cent market share and a 354-per-cent year-over-year increase in concentrate unit sales.

Roilty posted an average of 20-per-cent month-over-month increase in overall unit sales across the portfolio in 2023, experiencing steady brand growth and market share capture through expanded distribution efforts. It also beat industry trends across several cannabis categories in 2023, posting an 82-per-cent increase in total unit sales in 2023 versus 2022. Roilty specifically dominated in live resin and was the No. 1 selling live resin brand in Alberta and No. 2 in Ontario. In 2024, year to date, Roilty shatter sits in the No. 2 position in both Ontario and Alberta, while sugar wax, which currently ranks No. 1 in both provinces, was No. 1 in Alberta and No. 2 in Ontario for 2023. In 2024, Roilty will introduce new SKUs in Ontario, Alberta and Quebec, and is expected to build upon the strong growth posted in 2023.

Zest Cannabis also showed strong growth in 2023. Unit sales for Zest prerolls increased in 2023 compared with 2022 driven by new product availability growing from three SKUs available upon the brand launch in July, 2022, to 15 SKUs in December, 2023. After 18 months in operation Zest has several top-performing products and ranked 34th out of 82 brands across Alberta and Ontario combined in 2023, placing Zest in the top 25 per cent of brands by unit sales in the subsegment for infused prerolls. Zest has also grown into the top 20 per cent brand by unit sales in vapes, one of the most competitive segments in cannabis with nearly 300 brands participating.

Lifeist also reports, further to its June 30, 2023, news release, as required by the approval of the TSX Venture Exchange in connection with the consulting agreement dated June 30, 2023, entered into by the company with Singular Narrative Management Ltd. for the provision of strategic business consulting, product development and brand marketing services to the company as well as other services that do not include investor relations or promotional activities, that is has issued an aggregate of 4,824,528 common shares and 1.2 million common share purchase warrants to acquire up to 1.2 million common shares as payment to Singular of the monthly fee of $20,000 for services provided in each of the months of October, November and December, 2023, calculated in accordance with the consulting agreement. The common shares were issued at deemed prices per share ranging from 1.08 cents to 1.5 cents. The warrants have an exercise price of five cents per share and expire five years from their respective date of issuance.

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 biosciences and consumer wellness company developing and selling innovative therapies for cellular health.

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