U.S. distribution agreement signed with GNC for Mikra’s flagship product CELLF, making GNC the exclusive distributor for U.S. retail stores and on Amazon at GNC’s channel
TORONTO, Jan. 12, 2023 (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 U.S. biosciences subsidiary Mikra Cellular Sciences Inc. (“Mikra”) has signed a distribution agreement with GNC Holdings, LLC (“GNC”) to make GNC the exclusive distribution partner for CELLF and its future derivates in the United States in GNC’s retail stores, at gnc.com and on GNC’s channel on Amazon.com, for an initial 12-month period.
GNC is one of the world’s largest specialty retailers of nutritional products including vitamin, mineral, herbal and other specialty supplements and sports nutrition, diet and energy products. As of January 2023, GNC has more than 5,000 retail locations throughout the U.S. and franchise operations in 42 international markets, as well as offers products online at gnc.com and through its growing Amazon channel.
“GNC is a dream partner to come on board as the first U.S. national retail partner for Mikra’s flagship product CELLF,” said Faraaz Jamal, CEO of Mikra. “GNC is a global leader in health and nutrition, which demonstrates the rapid growth potential of CELLF. We are working hard to ramp up production, ready logistics partners and finalize marketing activities with GNC, targeting for our product to be available for purchase online and in GNC stores across the U.S. in the coming months. We also look forward to expanding our distribution rights for our future product offerings.”
“A fantastic moment for Mikra and Lifeist,” said Meni Morim, CEO of Lifeist. “This distribution deal yields access to over 5,000 retail doors with face-to-face time with millions of GNC consumers for CELLF, and greatly enhances Mikra’s reputation at the perfect time as it looks to release an exciting line of new products in the next few weeks and months. For Lifeist, Mikra’s distribution deal is an important building block toward Lifeist’s profitability and represents large strides in our corporate evolution to wellness.”
CELLF will also be available for sale at gnc.com, on Mikra’s proprietary e-commerce platform wearemikra.com, and through other e-commerce marketplaces besides Amazon. Mikra also retains the ability to sell directly or indirectly outside the United States.
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; CannMart Labs, a BHO extraction facility for the production of high margin cannabis 2.0 products; the CannMart.com marketplace, which provides U.S. customers with access to hemp-derived CBD and smoking accessories; Australian Vapes, Australia’s largest online retailer of vaporizers and accessories; and Mikra, a biosciences and consumer wellness company bringing to market innovative therapies for cellular health.
Information on Lifeist and its businesses can be accessed through the links below:
www.lifeist.com
https://cannmart.com
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 Mikra’s fulfillment of its agreement with GNC and contribution to Lifeist profitability and evolution to wellness 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. 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 news release. Such factors include, without limitation: issues relating to production, distribution and sales of CELLF. Additional risk factors can also be found in the Company’s current MD&A 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.
