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Mikra, subsidiary of Lifeist, on track to generate strong growth

TORONTO, Aug. 26, 2022 (GLOBE NEWSWIRE) — Lifeist Wellness Inc. (“Lifeist” or the “Company”) (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: NXTTF)a health technology company that leverages advances in science and technology to create breakthrough companies that transform human well-being, today announced growing momentum for its U.S. bioscience subsidiary Mikra Cellular Sciences Inc. .(“Mikra”) and the air date of the interview of Mikra CEO, Faraaz Jamal on Newsmax TV.

Mikra’s direct-to-consumer online platform is on track to achieve its highest monthly volume with a strong average order value (AOV), while maintaining a churn rate below 20%, meaning that more than 80% of subscribers continued their monthly subscription. , demonstrating the product’s strong renewal potential and laying the foundation for cumulative month-on-month growth. Mikra’s volume growth in August is attributed to a combination of high levels of new customer acquisition and high customer retention, supported by a comprehensive marketing program, validating the company’s decision to invest in additional marketing efforts to fuel growth.

In addition, Mikra has undertaken extensive subscriber research and is actively developing and testing a second version of CELLF to further improve customer lifetime value. The second version of CELLF is expected to be introduced to consumers early in the fourth quarter of the fiscal year.

“Acquiring customers and retaining them for several months is critical to the success of a consumer packaged goods company,” said Meni Morim, CEO. “In this respect, I am delighted to see that CELLF has been producing high-level metrics since its introduction in March 2022 and is starting to carve out a significant share of the health and wellness market and develop a fan base. This sets the stage for compound growth that should fuel Lifeist’s operating profitability target for Mikra over the coming quarters.

Faraaz Jamal’s interview with host Jane King will be featured on New To The Street programming, including Bloomberg TV, Fox Business and Newsmax, potentially reaching more than 500 million households in the United States and international markets. Viewers can catch this final segment on Newsmax TV this Sunday at 10:00 a.m. ET.

Mikra’s cinematic TV ad in its entirety can be viewed here. For more information on Mikra, visit www.wearemikra.com or follow us on your favorite social media platform @wearemikra.

About Lifeist Wellness Inc.

At the forefront of the post-pandemic wellness revolution, Lifeist is leveraging advances in science and technology to create game-changing companies that are transforming human wellbeing. Portfolio business units include: CannMart, which operates a B2B wholesale distribution business facilitating sales of recreational cannabis to Canadian provincial government screening boards; CannMart Labs, a BHO extraction facility for the production of high-margin Cannabis 2.0 products; the CannMart.com marketplace, which provides US customers with access to hemp-derived CBD and smoking accessories; Australian Vapes, the country’s largest online retailer of vaporizers and accessories; and Mikra, a bioscience and consumer wellness company that seeks to develop innovative therapies for cellular health.

Information about Lifeist and its activities can be accessed via the links below:

www.lifeist.com
www.cannmart.com
www.australianvaporizers.com.au
www.wearemikra.com

contacts

Meni Morim, Lifeist Wellness Inc, CEO
Matt Chesler, CFA, FNK IR, Investor Relations
[email protected] | 647-362-0390

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 endorses or disapproves of the contents of this press release. .

Forward-looking information

This press 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 may be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “should”, “plan”, “anticipate”, “intend”. of”, “potential”, “proposed”, “estimate”, “believe” or the negative form of these terms, or other similar words, phrases and grammatical variations, or statements that certain events or conditions “may” or “will occur”.

Forward-looking information contained herein, including, but not limited to, statements relating to: Mikra’s planned development and introduction of a second version of CELLF and Lifeist’s goal for profitability operational for Mikra in the coming quarters are made as of the date of this press release and are based on assumptions that management believed to be reasonable at the time such statements were made, including, without limitation, expectations under which CELLF and the second version of it and other cellular health products to be developed by the Company will be developed as planned and in a timely manner and gain or continue to gain market acceptance alongside the expansion of the nutraceuticals market, its expectation that the nutraceuticals market will develop as currently expected, the nutraceuticals market will continue to be a high-margin market. A multi-billion dollar business, the introduction of new products and brands will generate additional revenue, as well as other considerations deemed appropriate in the circumstances. Although we consider these assumptions to be reasonable based on information currently available to management, there can be no assurance that these expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties which may be general or specific and which give rise to the possibility that the expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that the assumptions are not correct and that the 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 contained in this press release. These factors include, but are not limited to: the Company’s inability to develop, as planned, the second version of CELLF or Mikra’s business as a whole, unforeseen changes to current regulations that would negatively impact Mikra’s business, unforeseen developments that would delay Mikra’s ability to sell CELLF or the latest version thereof or any other nutraceutical products, the risk that expected demand for nutraceutical products generally and those of Mikra in particular does not develop as expected and risks relating to the Company’s ability to execute its business strategy and the benefits realizable therefrom. Other risk factors can also be found in the Company’s current MD&A and Annual Information Form, both of which have been filed under the Company’s SEDAR profile at www.sedar.com. Readers are cautioned not to place 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. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Source: Wellness Lifeist Inc.