B2B distribution agreement reinforces CannMart’s focus on higher margin activities that complement its award-winning in-house concentrates brand, Roilty
TORONTO, Oct. 31, 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 build breakthrough companies that transform human wellness, today announced that its wholly owned Canadian cannabis business unit, CannMart Inc. (“CannMart”), has entered into a distribution agreement with Hamilton Devices, one of the leading U.S. manufacturers and suppliers of vape hardware. With the agreement, CannMart is now Canada’s first distributor of Hamilton Devices’ complete portfolio of innovative consumer facing, extracts focused vape hardware products across Canada through October 2024, with an initial six-month exclusivity.
Hamilton Devices is internationally recognized as a leading innovator of vaporizer technologies that deliver extract products such as distillate, live resin, and shatter through industry-wide 510 thread carts. The company manufactures cost effective, simple-to-use yet multi-functional devices that help everyday consumers enjoy concentrate products without having to make large investments into vape hardware or traditional dabbing tools. An example of the company’s outstanding innovation is its newest device, the Starship, which allows consumers to vape three carts, including three different categories of concentrate, at once. A recent Instagram video featuring the Starship has gone viral, accounting for over 820,000+ views, including 26,000+ likes and 400+ comments within the first three weeks. According to Hamilton Devices, their innovative products are found in approximately 100,000 retailers throughout the U.S.
CannMart intends to leverage its master distributor status and sell Hamilton Devices products directly into its expanding retail store network across Canada of over 2,500 stores.
“It’s a privilege to be selected by Hamilton Devices as its exclusive B2B distribution partner for Canada and we can’t wait to leverage our established relationships to bring their innovative vaporizer technologies to Canadian consumers,” said Daniel Stern, CEO of CannMart. “This marks CannMart’s first accessory B2B distribution deal and dovetails nicely with our focus on higher-margin activities given the drop-ship nature of the relationship, meaning no warehousing, inventory and delivery costs. On that basis, CannMart is expanding its direct to store sales and marketing efforts, including for our award-winning, SKU-diverse, in-house concentrates brand Roilty.”
“We’re excited to bring new products to market that complement CannMart’s Roilty product line,” said Meni Morim, CEO of Lifeist. “Providing consumers with new, safe and convenient ways to try and consume our extract products will not only delight our customers but can also help us grow our core cannabis business faster and more efficiently. The Hamilton Devices product line fits perfectly into CannMart’s existing portfolio and sales process, and we are looking forward to seeing the results of this new agreement.”
Canadian retailers not yet part of the CannMart store network interested in adding Hamilton Devices to their offerings should contact CannMart at HDsales@cannmart.com.
About Lifeist Wellness Inc.
Sitting at the forefront of the post-pandemic 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 B2B 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 online retailers of vaporizers and accessories; and Mikra, a biosciences and consumer wellness company developing and selling innovative therapies for cellular health.
Information on Lifeist and its businesses can be accessed through the links below:
www.lifeist.com
https://cannmart.com
https://www.roilty.co
www.australianvaporizers.com.au
www.wearemikra.com
Contacts
Meni Morim, Lifeist Wellness Inc., CEO
Matt Chesler, CFA, FNK IR, Investor Relations
Ph: 647-362-0390
Email: ir@lifeist.com
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 is based on assumptions management believed to be reasonable at the time such statements were made, including, without limitation, Lifeist’s expectation of demand of HD innovative products in Canada and resultant growth of the CannMart business. 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. Additional risk factors can also be found in the Company’s current MD&A which has been filed under the Company’s SEDAR profile at www.sedar.com. 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.
