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Global Weed Business: Flora Buys Australian Vaporizers As IM Cannabis Doubles Down On Germany

By Jelena Martinovic
June 5, 1:48 PM
Lifeist Wellness Inc. (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: LFSWF) said on Wednesday the sale of Australian Vaporizers Pty Ltd., its wholly owned Australian subsidiary to Flora Growth Corp. (NASDAQ: FLGC).The sale, first announced in September 2023, was wrapped up through a share purchase agreement, under which Lifeist has sold the issued and outstanding shares of Aussie Vapes to Flora, for roughly CA$900,000 ($658,439). The sum is payable by Flora issuing from treasury to Lifeist 550,000 of its common shares.In the meantime,

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Lifeist Reports Highest Quarterly Gross Profit In History, Continues To Diversify Its Wellness Business

By Jelena Martinovic
April 2, 10:13 AM
Lifeist Wellness Inc. reported on Monday its financial results for the three and 12 months ended Nov. 30, 2023. The Toronto-based company said it achieved the highest quarterly gross profit in the company's history in the fourth quarter totaling CA$2 million ($1.5 million), representing a gross margin of 42%, compared to CA$1.9 million, or 31% gross margin, in the corresponding quarter of 2022."Our performance in the fourth quarter of 2023 reflects our strategic focus on high-margin activities and operational efficiency, resulting in the highest quarterly gross profit in our company's history," Meni Morim, CEO of Lifeist, said. "Though accompanied by unique hurdles, our focus towards enhancing gross profit has produced promising results." The company recently announced that it has entered into a definitive share purchase agreement with 1463663 B.C. Ltd., a newly incorporated affiliate of Tierra Corp., and the company's Canadian cannabis subsidiaries, collectively referred to as the CannMart Group, to divest and sell all of the shares of the CannMart Group to the buyer for CA$5 million.

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Lifeist’s CannMart Moves To Direct-To-Retailer Cannabis Distribution In Saskatchewan

By Vuk Zdinjak
August 24, 10:06 AM
Lifeist Wellness Inc. (OTCMKTS:LFSWF) (TSXV:LFST) (FRANKFURT:M5B) highlighted the continued strength of CannMart Inc.’s in-house cannabis concentrate brand Roilty, the expansion of Rilaxe Cannabis in multiple provinces across Canada, and the strategic move to direct-to-retailer distribution in the province of Saskatchewan.

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