16:05:57 EDT Sat 22 Jun 2024
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Lifeist Wellness Inc
Symbol LFST
Shares Issued 591,087,243
Close 2024-04-15 C$ 0.005
Market Cap C$ 2,955,436
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Lifeist's CannMart ships cannabis products to Australia

2024-04-15 11:26 ET - News Release

Mr. Meni Morim reports


Lifeist Wellness Inc.'s subsidiary, CannMart Inc., has made a landmark shipment of premium cannabis products to Australia, including vape carts plus two extracts from its own Roilty brand. In December, 2023, CannMart announced its intention to begin exporting cannabis products to Australia through an agreement with Aura Therapeutics Pty. Ltd. to include concentrate and vape carts, bulk flower and other refined concentrate products in the quickly developing Australian medical cannabis industry. This milestone shipment represents a significant achievement for CannMart as it expands its presence beyond Canadian borders and enters the large and growing Australian medical cannabis market.

"The export of cannabis products to Australia underscores CannMart's commitment to expanding its footprint beyond Canadian borders and catering to the evolving needs of medical cannabis patients worldwide," said Daniel Stern, chief executive officer of CannMart. "These high-margin products are poised to make a significant impact in the Australian medical cannabis market, which continues to experience substantial growth and demand for quality cannabis products. The launch of our own Roilty products in Australia also marks a significant milestone in our international expansion strategy."

Australia boasts a large and growing medical cannabis market, with increasing demand for high-quality cannabis products to address various medical conditions. By entering this market, CannMart aims to meet the needs of Australian patients and contribute to the advancement of medical cannabis access and awareness.

One of the foremost advantages of exporting CannMart products to Australia is the absence of Canadian excise taxes on export products. This allows CannMart to offer its high-margin cannabis products at competitive prices, further enhancing its appeal to Australian consumers.

CannMart products are meticulously crafted to meet stringent quality standards, ensuring consistency efficacy for patients seeking relief from various medical conditions. The Roilty brand is known for its exceptional quality and potency, making it a preferred choice among discerning cannabis consumers in Canada and now in Australia. With its inaugural launch in Australia, CannMart and its brand Roilty are poised to capture the attention of medical cannabis patients seeking premium-grade products for therapeutic use in other global markets.

CannMart remains committed to upholding the highest standards of quality, safety and efficacy in its cannabis products, ensuring that patients have access to reliable and effective treatment options. As the global cannabis market continues to evolve, CannMart is dedicated to exploring new opportunities for growth and innovation while remaining steadfast in its mission to improve the well-being of individuals worldwide.

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: Mikra, a biosciences and consumer wellness company developing and selling innovative products for cellular health; 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; and Australian Vapes, one of Australia's largest on-line retailers of vaporizers and accessories.

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