- Lifeist’s (TSXV:LFST) subsidiary, CannMart Inc. reported strong sales growth and product breadth expansion
- The Toronto-based health-tech company’s partner brands Zest Cannabis and Rilaxe continue to experience sales growth and product expansion in important markets and categories
- Zest has achieved average store penetration of 20 per cent across Canada, with Rilaxe achieving 30 per cent market penetration in Manitoba and Saskatchewan
- Lifeist Wellness Inc. (LFST) opened trading at C$0.04 per share
Lifeist’s (TSXV:LFST) subsidiary, CannMart Inc. reported strong sales growth and product breadth expansion.
The Toronto-based health-tech company’s partner brands Zest Cannabis and Rilaxe continue to experience sales growth and product expansion in important markets and categories.
Zest has achieved average store penetration of 20 per cent across Canada, with Rilaxe achieving 30 per cent market penetration in Manitoba and Saskatchewan, with new SKUs expected to launch in Ontario and Québec by the end of the year.
Highlights:
- Zest product sales grew at an average rate of 11 per cent month-over-month in April across Ontario, Alberta, Saskatchewan, Manitoba, Northwest Territories, Nunavut, and Yukon
- Zest’s #1 selling SKU, Pink Lemon Liquid Diamond Vape, achieved 14 per cent month-over-month growth in April in all listed provinces since launch
- From the brand launch, Zest has increased SKU count in the two largest cannabis markets:
- Alberta now offers 10 SKUs including four Liquid Diamond vapes and 6 infused pre-roll multipacks
- Ontario offers 5 SKUs, including two Liquid Diamond vapes, two multi-pack infused pre-rolls, and an infused milled flower
- Zest achieved store penetration of 25 per cent in Manitoba and Saskatchewan, while Alberta and Ontario experienced store penetration of 16per cent, with a combined increase of 130 stores in the last 15 days.
Rilaxe has also experienced success across Canada, and plans to expand its product range by Q4 2023, including:
- The launch of seven SKUs in Quebec early in Q4 2023, featuring additional dried fruit and vegetable products with a 2:1 THC to CBD ratio plus bulk CBD products
- In Ontario, Rilaxe will expand its offerings with a retro pop-culture inspired edibles collection, including 1:1 Sour Peach, 1:1 Sour Cherry, and an exciting spicy orange rice cracker 1:1 Spicy Firecrackers
- Rilaxe will also enter the fast-growing canna-blunts sub-category with their Berri Blunts (3 x 0.7G) pre-rolls
CannMart’s CEO, Daniel Stern said that these two brands are playing an important role driving sales for and have become valuable additions to Lifeist’s growing portfolio.
“Zest and Rilaxe are complimentary to CannMart’s best-selling concentrate brand, Roilty, with Zest offering premium quality extract-infused pre-roll and Liquid Diamond vape products, and Rilaxe with health-conscious dried fruit edibles and soon canna-cigar Rilaxe Berri Blunts. I look forward to continue to work with these brands to grow market share and expand beyond traditional product categories.”
Lifeist’s CEO, Meni Morim added that Zest and Rilaxe meeti internal targets and driving growth within their respective market categories for CannMart’s brand portfolio.
“These two leading brands are well known and cater to cannabis connoisseurs and health-conscious enthusiast alike. We look forward to the continued market growth and product expansion within the cannabis business unit.”
Lifeist leverages advancements in science and technology to build breakthrough companies that transform human wellness. Its portfolio business units include CannMart, CannMart Labs, Australian Vapes, and Mikra.
Lifeist Wellness Inc. (LFST) opened trading at $0.04 per share.
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