TORONTO, March 28, 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 the official debut of Mikra Cellular Sciences Inc. (“Mikra”) nutraceutical products for purchase on Mikra’s Amazon storefront. The availability of Mikra’s first two products on the leading e-commerce site marks a significant advancement in distribution for Mikra’s products, which until now have been available for sale exclusively through its direct-to-consumer website, wearemikra.com.
Beginning today, consumers can purchase CELLF on Amazon in the United States and RESCUE in both the United States and Canada. CELLF and RESCUE are eligible for Amazon Prime free shipping benefits.
“Selling on Amazon in both the U.S. and Canada is a major distribution milestone for Mikra that we expect will help to catalyze Mikra’s growth,” said Faraaz Jamal, CEO of Mikra and COO of Lifeist. “Our passionate consumers can now purchase our products through a growing number of ways which will also include GNC stores over the coming months. Creating multiple distribution points is integral to Mikra’s mission – our goal is to allow customers to effortlessly purchase Mikra products no matter where they choose to shop.”
Added Meni Morim, CEO of Lifeist, “Gaining Amazon distribution is the latest indicator that Mikra is on track to become a strong nutraceuticals asset that can sit alongside CannMart in Lifeist’s wellness portfolio. By targeting the large and growing nutraceutical and wellness market, Mikra is positioned to contribute revenue and margin expansion to Lifeist.”
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 Vaporizers, 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:
Meni Morim, Lifeist Wellness Inc., CEO
Matt Chesler, CFA, FNK IR, Investor Relations
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 growth prospects, the anticipated distribution and sales of Mikra’s products at GNC stores, among other distribution channels, and anticipated contribution to the Company’s revenue and margin expansion, 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: Mikra’s current and future products will be available for purchase through a growing number of distribution channels, including GNC stores, as anticipated and in a timely manner; such products will gain market acceptance along with the expansion of the nutraceutical market; Mikra will be able to grow its distribution network for CELLF and RESCUE and other new products; its expectation that the market for nutraceutical products will remain strong and will continue to grow as currently anticipated; the nutraceutical market will continue to be a multi-billion dollar high-margin market; the introduction of new products, brands and distribution channels will generate additional awareness of Mikra’s existing and future products and increase revenue. 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 availability of Mikra’s products failing to achieve the sales level and other benefits expected from being available for purchase on Amazon, unanticipated delays in or the failure to make CELLF and RESCUE as well as future new Mikra products available for distribution and sale through third-party distributors as anticipated in 2023 and beyond, the Company’s inability to continue to develop Mikra’s business as a whole, including its inability to increase distribution and sales through retail and online channels, unanticipated changes to current regulations that would adversely impact Mikra’s business, unforeseen developments that would delay Mikra’s ability to develop and sell additional nutraceutical products, the risk that the expected demand for nutraceutical products in general and those of Mikra in particular, including consumer uptake, does not develop as anticipated 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.