CEO Meni’s comments Positive trends and execution at our cannabis subsidiary, CannMart Inc. resulted in increased Q3 revenues and gross profit,” said Meni Morim, CEO of Lifeist. “CannMart is experiencing strong demand for its portfolio of products from consumers, retailers and provincial wholesalers across Canada. In addition to the estimated revenue increase, we anticipate more than doubling our gross profit compared to the same period in the previous year. We continue to strategically focus our attention on increasing gross margins within our current product portfolio and bringing on newer SKUs with significantly higher gross margins. Initial sales from our in-house brand “Roilty” have been very well received by our provincial partners and we are excited to expand our product portfolio with the upcoming launch of our limited-edition SKUs made at subsidiary CannMart Labs Inc.’s state-of-the-art BHO extraction facility by the end of October. Overall, there has been a significant amount of work done across the Company, laying the foundations for growth, and I am very pleased to say these efforts are starting to pay dividends.”
Added Morim, "CannMart's turnaround comes at an exciting time as Lifeist progresses along its evolution into a bold and disruptive wellness company, striving to connect humanity with safe, innovative and often daring pathways to individual definitions of wellness. We are on track to launch our nutraceuticals division in Q4 2021."