TORONTO, March 03, 2022 (GLOBE NEWSWIRE) — Lifeist Wellness Inc. (“Lifeist” or the “Firm”) (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: NXTTF), a health-tech firm that leverages developments in science and know-how to construct breakthrough corporations that rework human wellness, right this moment introduced that it intends to launch its monetary outcomes for the fiscal fourth quarter and full yr ended November 30, 2021, on Friday, March 25, 2022, earlier than the market open.
As well as, the Firm supplied the next company updates:
Share Issuance Associated to CannMart Labs Inc.
Lifeist intends to challenge an mixture of three,481,912 frequent shares (issued at a deemed value of $0.0774, which is the same as the seven-day quantity weighted common per frequent share for the buying and selling interval as much as and together with March 3, 2022), and not using a maintain interval, as fee of the fifth tranche of the remaining base buy value to the distributors beneath the share buy settlement for the acquisition of CannMart Labs Inc. The issuance is taken into account to be a shares-for-debt transaction beneath the insurance policies of the TSX-V and stays topic to TSX-V approval.
Australia Flooding
A serious flooding occasion has occurred in Queensland and New South Wales, Australia, leading to property harm and lack of life all through the area and together with in Brisbane the place the Firm’s wholly owned subsidiary Australian Vaporizers Pty Restricted (“AV”) leases a warehouse facility. Fortunately, the Firm can report that each one members of the AV crew are secure and accounted for, although the enterprise did endure partial lack of stock and is experiencing enterprise interruption. While any disruption to any enterprise isn’t welcome, the AV crew is working diligently to renew commonplace operations as quickly as potential and whereas the near-term influence continues to be being totally quantified, the Firm is assured in AV’s capacity for a fast and full restoration on account of its superior customer support, excessive repeat buyer charge, and the measures already put into place to take care of buyer loyalty. Moreover, AV will take this chance to instigate initiatives to optimize operations and set future foundations for continued development by investigating enlargement into new premises.
“Firstly, my coronary heart goes out to all these affected by the flooding,” stated Meni Morim, CEO of Lifeist. “Unlucky as it’s, because of our superb can-do crew at AV, this problem additionally presents a chance to speed up enchancment and development. The AV crew’s ‘construct again higher’ initiative will see the operation emerge higher and stronger and consolidate its place as one in all Australia’s pre-eminent sellers of vaporizers and smoking equipment.”
About Lifeist Wellness Inc.
Sitting on the forefront of the post-pandemic wellness revolution, Lifeist leverages developments in science and know-how to construct breakthrough corporations that rework human wellness. Portfolio enterprise models embody: CannMart, which operates a B2B wholesale distribution enterprise facilitating leisure hashish gross sales to Canadian provincial authorities management boards; CannMart Labs, a BHO extraction facility for the manufacturing of excessive margin hashish 2.0 merchandise; the CannMart.com market, which offers U.S. prospects with entry to hemp-derived CBD and smoking equipment; Australian Vapes, Australia’s largest on-line retailer of vaporizers and equipment; Findify, a number one AI-powered search and discovery platform; and Mikra, a biosciences and shopper wellness firm in search of to develop progressive therapies for mobile well being.
Data on Lifeist and its companies will be accessed by the hyperlinks under:
www.lifeist.com
www.cannmart.com
www.australianvaporizers.com.au
www.wearemikra.com
Contacts
Lifeist Wellness Inc.
Meni Morim, CEO
Matt Chesler, CFA, Investor Relations
Ph: 647-362-0390
Electronic mail: ir@lifeist.com
Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this launch or has in any means authorised or disapproved of the contents of this press launch.
Ahead Trying Data
This information launch incorporates “forward-looking info” throughout the that means of relevant securities legal guidelines. All statements contained herein that aren’t historic in nature comprise forward-looking info. Ahead-looking info will be recognized by phrases or phrases comparable to “could”, “count on”, “possible”, “ought to”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “consider” or the unfavorable of those phrases, or different related phrases, expressions and grammatical variations thereof, or statements that sure occasions or situations “could” or “will” occur.
The forward-looking info contained herein, together with, with out limitation, statements associated to the issuance of shares as fee for the fifth tranche of the remaining base buy value to the distributors beneath the share buy settlement for the acquisition of CannMart Labs Inc. and the anticipated development and enchancment prospects of AV together with the potential enlargement into new premises on account of the flooding, are made as of the date of this press launch and is predicated on assumptions administration believed to be affordable on the time such statements have been made, together with, with out limitation, its capacity to acquire TSX-V approval for the shares for debt transaction and AV’s capacity to rapidly resume enterprise actions, in addition to different concerns which are believed to be applicable within the circumstances. Whereas we contemplate these assumptions to be affordable based mostly on info at the moment accessible to administration, there isn’t a assurance that such expectations will show to be right. By its nature, forward-looking info is topic to inherent dangers and uncertainties that could be basic or particular and which give rise to the chance that expectations, forecasts, predictions, projections or conclusions won’t show to be correct, that assumptions might not be right and that goals, strategic targets and priorities won’t be achieved. A wide range of components, together with recognized and unknown dangers, lots of that are past our management, may trigger precise outcomes to vary materially from the forward-looking info on this press launch. Such components embody, with out limitation: the failure to acquire the requisite approval of the TSX-V for the shares-for-debt issuance, and the shortcoming of AV to renew commonplace operations as quickly as potential or as anticipated, and AV’s incapability to seek out new ample premises on financial phrases, if in any respect. Further threat components will also be discovered within the Firm’s present MD&A and annual info kind, each of which have been filed beneath the Firm’s SEDAR profile at www.sedar.com. Readers are cautioned to not put undue reliance on forward-looking info. The Firm undertakes no obligation to replace or revise any forward-looking info, whether or not on account of new info, future occasions or in any other case, besides as required by relevant legislation. Ahead-looking statements contained on this information launch are expressly certified by this cautionary assertion.
Supply: Lifeist Wellness Inc.