Toronto, March 3, 2022 (GLOBE NEWSWIRE) — Lifeist Wellness Inc. (“Lifeist” or “Company”) (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: NXTTF)Is a health tech company that builds groundbreaking companies that leverage advances in science and technology to transform human health, with its fourth quarter and full-year financial results ending November 30, 2021 today. Announced that it will be announced on Monday Friday. 25th, 2022, before the market opened.
In addition, we have provided the following corporate updates:
CannMart Labs Inc.Issuance of shares related to
Lifeist will issue a total of 3,481,912 shares of common stock (issued at a deemed price of $ 0.0774, without hold, which is a 7-day volume-weighted average per common share for the trading period through March 3, 2022. Equivalent) will be issued. As a fifth tranche payment of the remaining base purchase price to the vendor under a stock purchase agreement for the acquisition of CannMart Labs Inc. Issuance is considered a liability equity transaction under TSX policy. It is a V and requires TSX-V approval.
Massive floods in Queensland and New South Wales, Australia, resulted in Brisbane, our wholly owned subsidiary, Australian Vaporizer Pty Limited (“AV”) leasing warehouse facilities. Property damage and loss of life occurred throughout the region, including. Thankfully, the company can report that all members of the AV team are safe and accountable, but the business suffers a partial loss of inventory and is experiencing business interruptions. Business interruptions are unwelcome, but the AV team is working hard to resume standard operations as soon as possible, and while the short-term impact is still fully quantified, the company is quick to AV. And we are confident in our full resilience because of our excellent customer service, high repeat customer rate, and measures already in place to maintain customer loyalty. In addition, AV will take this opportunity to explore expansions into new facilities to drive initiatives to optimize operations and lay the foundation for future growth.
“First and foremost, it’s heartbreaking to all those affected by the flood,” said Meni Morim, CEO of Lifeist. “Unfortunately, thanks to AV’s amazing and rewarding team, this challenge also provides an opportunity to accelerate improvement and growth. The AV team’s“ Buildback Better ”initiative will make operations better and more powerful. , Will solidify its position as one of the outstanding sellers of Australian vaporizers and smoking accessories. “
Lifeist Wellness Inc.about
At the forefront of the post-pandemic wellness revolution, Lifeist is leveraging advances in science and technology to build groundbreaking companies that transform human wellness. Portfolio business units include: Cann Mart runs a B2B wholesale distribution business that promotes the sale of recreational cannabis to the Canadian province’s governing board. CannMart Labs, a BHO extraction facility for producing high margin cannabis 2.0 products. The CannMart.com Marketplace provides US customers with access to hemp-derived CBD and smoking accessories. Australian Vapes, Australia’s largest online retailer of vaporizers and accessories. Findify is a search and discovery platform that utilizes major AI. Mikra, a bioscience and consumer wellness company seeking to develop innovative therapies for cell health.
Information about Lifeist and its businesses can be found at the links below.
Lifeist Wellness Co., Ltd.
Meni Morim, CEO
Matt Chesler, CFA, Investor Relations
Neither the TSX Venture Exchange nor its Regulatory Service Providers (the term is defined in the TSX Venture Exchange Policy) are responsible for the validity or accuracy of this release and approve or disapprove the content of this press release. I will not. ..
Information about the future outlook
This news release contains “forward-looking information” in the sense of applicable securities law. All non-historical statements contained in this document contain information about the future outlook. Information about the future outlook is “may”, “expect”, “likely”, “should”, “do”, “plan”, “expect”, “intended”. , “Possible,” “suggested,” “estimate,” “believe,” or negation of these terms, or other similar words, expressions, and grammatical variations, or specifics thereof. The statement that the event or condition of is “may occur” or “occurs”.
The prospects for expected growth and improvement of AV, including CannMart Labs Inc. and potential expansion to new facilities as a result of the flood, have been prepared as of the date of this press release and such a statement. Is based on the assumption that management considers reasonable at the time of issuance. , But not limited to, the ability to obtain TSX-V approval of shares for debt transactions, the ability of AV to resume business activities quickly, and other considerations that may be appropriate in some circumstances. While we believe these assumptions are reasonable based on the information currently available to management, there is no guarantee that such expectations will be proven to be correct. By its nature, information about future prospects is general or specific, and the impact of inherent risks and uncertainties that may result in expectations, forecasts, forecasts, forecasts, or conclusions that may not be proven to be accurate. Receive. Correctly, its objectives, strategic goals and priorities are not achieved. Due to a variety of factors, including known and unknown risks, many are beyond our control and actual results may differ materially from the forward-looking information in this press release. Such factors include, but are not limited to: The inability to obtain the required approval of TSX-V for bond issuance, the inability of AV to resume standard operation as soon as or as expected, and the inability to find AV. New and appropriate assumptions, if any, from an economic point of view. Additional risk factors are also listed in our current MD & A and annual information forms. Both of these have been submitted to our SEDAR profile at www.sedar.com. Readers should be careful not to overly rely on information about future prospects. We undertake no obligation to update or revise any forward-looking information as a result of new information, future events, etc., except as required by applicable law. The forward-looking statements contained in this news release are explicitly modified by this notice.
Source: Lifeist Wellness Inc.
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Lifelist Wellness Announces Fourth Quarter and 2021 Full Year Results on March 25, 2022, Canadian Business Journal
Source link Lifelist Wellness Announces Fourth Quarter and 2021 Full Year Results on March 25, 2022, Canadian Business Journal