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Lifeist Cannabis B2B Subsidiary, CannMart Inc., Establishes Supply Agreement with Quebec Provincial Government

Agreement with Société québécoise du cannabis (“SQDC”) Expands B2B Operations to Canada’s Second Most Populous Province

TORONTO, March 08, 2022 (GLOBE NEWSWIRE) -- Lifeist Wellness Inc. (“Lifeist” or the “Company”) (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: NXTTF), a health-tech company that leverages advancements in science and technology to enable you to find your path to wellness, today announced that its wholly owned subsidiary CannMart Inc. (“CannMart”) has established a supply agreement with the SQDC, the sole retail distributor of licensed cannabis products in Quebec, Canada’s second most populated province.

As a result of this agreement, CannMart now maintains supply agreements with provincial government cannabis control boards and retailing bodies in the provinces of Ontario, Quebec, Alberta, British Columbia, Manitoba, New Brunswick and Saskatchewan, and the Yukon, Northwest Territories and Nunavut territories, constituting access to 95% of Canada’s population.

CannMart and the SQDC are currently negotiating purchase orders with a view to six SKUs reaching the SQDC’s 81 and counting retail stores across Quebec by end of summer 2022.

“This agreement solidifies CannMart’s position as the pre-eminent nationwide value-adding platform for the Canadian cannabis market, connecting licensed producers and brands with provincial government control boards and independent retailers,” said Daniel Stern, CEO of CannMart. “Our innovative model enables CannMart to provide tangible solutions in the Canadian cannabis supply chain.”

Added Meni Morim, Lifeist’s Chief Executive Officer, “The CannMart B2B business is one of Lifeist's innovative wellness assets and is uniquely positioned to capitalize on growing consumer demand for recreational cannabis products in Canada. We congratulate the team for this latest achievement and look forward to Quebec's contribution to CannMart's growing stream of revenue and gross profits.”

About Lifeist Wellness Inc.

Sitting at the forefront of the post-pandemic wellness revolution, Lifeist is a portfolio of wellness companies leveraging advancements in science and technology to enable individuals to find their personalized path to wellness. Portfolio business units include: CannMart, which operates a B2B wholesale distribution business facilitating recreational sales to Canadian provincial government control boards; CannMart Labs, a BHO extraction facility for the production of high margin cannabis 2.0 products; and the marketplace, which provides U.S. customers with access to hemp-derived CBD and smoking accessories; Australian Vapes, the country’s largest online retailer of vaporizers and accessories; Findify, a leading AI-powered search and discovery platform; and Mikra, a biosciences and consumer wellness company seeking to develop innovative therapies for cellular health and recovery.

Information on Lifeist and its businesses can be accessed through the links below:


Lifeist Wellness Inc.
Meni Morim, CEO
Matt Chesler, CFA, Investor Relations
Ph: 647-362-0390

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.

Forward Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen.

The forward-looking information contained herein, including, without limitation, statements related to CannMart and its business including the execution of purchase orders with the SQDC, and the expected continued growth of the CannMart business, are made as of the date of this news release and is based on assumptions management believed to be reasonable at the time such statements were made, including, without limitation, the anticipated continued growing demand for recreational cannabis products in Canada, CannMart’s ability to continue to develop its business as anticipated and increase sales through the SQDC, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: the inability to conclude purchase with the SQDC in accordance with the anticipated timeline, if at all, and fulfillment difficulties of the same by CannMart, and, if such agreements are entered into, the failure to achieve anticipated economic benefits therefrom. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed under the Company’s SEDAR profile at Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Source: Lifeist Wellness Inc.


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Source: Lifeist Wellness Inc.

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