Lifeist's CannMart to Expand Product Offering in Alberta

Addition of Seven New Roilty SKUs, Including Roilty's First-Ever Dried Flower, and New Offerings from Zest, Expands CannMart's Already Strong Presence in Alberta

Roilty Nominated for Best Live Resin at 2022 KIND Budtender Awards

TORONTO, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Lifeist Wellness Inc. ("Lifeist" or the "Company") LFST (FRANKFURT: M5B) 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") is introducing seven new SKUs in Alberta for its award-winning in-house brand Roilty, including Roilty's first-ever dried flower offering, as well as several complementary new products from Zest. This latest product line expansion, which is expected by April 2023, will solidify the Roilty brand name among provincial buyers and retailers as one of the highest quality concentrates and vapes in the Canadian cannabis industry.

CannMart has grown its Roilty product line in Alberta significantly over the past year, from two SKUs in the in Fall 2021 to 16 currently. With the addition of the planned seven new SKUs, the number of active Roilty products in market in Alberta is expected to be 23. When SKUs from Master Distribution Agreement ("MDA") partners are included, such as Zest, CannMart's overall offering in Alberta will include 35 active SKUs between Roilty and MDA partners, a significant increase in portfolio and shelf space.

"There is no other way to view the product expansion success of Roilty than through the continued support and belief in the brand from provincial buyers, retailers and budtenders," commented Daniel Stern, CEO, CannMart. "CannMart continues to expand the Roilty product portfolio, taking advantage of our advanced extraction and manufacturing capabilities and leveraging the popularity of this award-winning brand across Canada. Developing, manufacturing, expanding, and promoting our proprietary brands is a key focus of our asset-lite, risk-mitigated model, and our continued progress is evidence of the success of this strategy."

Continued Innovation and Launch of First Dried Flower Offering
The Roilty SKU expansion in Alberta includes two vape carts, two shatters in parchment, one live resin jar, one diamonds & terp sauce jar, as well as a dried flower SKU, Roilty Sunset Queen. Sunset Queen is Roilty's first dried flower offering and launches the brand into the largest sales segment of the industry. A true craft-quality flower, Sunset Queen brings bag and label appeal to support growing consumer demand. Boasting over 28% THC and over 3% terpenes, the new dried flower product further supports the Roilty messaging of quality, affordable cannabis procured by true cannabis enthusiasts.

Additionally, the product line expansion includes several new SKUs from Zest, one of CannMart's MDA partners. Zest's innovative and exciting extract infused pre-roll blends in multi-packs: Live Resin & Diamond Infused, Shatter & Diamond Infused, Live Resin & Shatter Infused, and Diamond & Terp Infused. Zest also recently launched a new-to-market Liquid Diamond vape in Ontario; a standout offering among cannabis cartridges available to the discerning vape consumer. These additional SKUs from Zest will bring CannMart's MDA portfolio to 12 active SKUs, representing 72% growth in the province.

Additional Accolade: Roilty Nominated "Best Life Resin"
A successful 2022 for Roilty is bookended with a nomination for "Best Live Resin" by KIND Magazine at the annual KIND Budtender Awards, a nomination given by budtenders, store managers, and independent retail owners across Canada. While this nomination did not garner a win this year, the excitement and support of Roilty as an approachable, quality concentrate brand among budtenders is a monumental win for CannMart, and further solidifies Roilty among the top brands in concentrates by the very people selling it.

"This nomination from KIND means a great deal, as it was voted on directly by the budtenders selling and consuming Roilty, as well as the competition," added Mr. Stern. "To be considered among these great concentrate brands speaks volumes about the quality product Roilty continues to bring to market."

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 the Roilty SKU expansion in Alberta anticipated to take place by April 2023, 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, including, without limitation, expectations that the increased product offering in Alberta will be available as anticipated. 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. Such factors include, without limitation: the failure to develop and launch for sale additional products by April 2023 as anticipated and in a timely manner, and risks relating to the Company's ability to execute its business strategy and the benefits realizable therefrom. 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.