Mikra to Enter Mainstream Well being Meals Market with Useful Vitamin Bar Line

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Analysis & improvement part is full; manufacturing will start in spring 2023

TORONTO, Jan. 17, 2023 (GLOBE NEWSWIRE) — Lifeist Wellness Inc. (“Lifeist” or the “Firm”) (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: NXTTF), a health-tech firm that leverages developments in science and expertise to construct breakthrough corporations that remodel human wellness, right now introduced that its U.S. biosciences subsidiary Mikra Mobile Sciences Inc. (“Mikra”) will broaden into the well being meals and snacks product class. With the analysis & improvement part full, Mikra expects to start manufacturing of dietary bars in late spring 2023 with merchandise accessible for buy by customers within the second half of the 12 months.

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The primary foray for Mikra into well being meals and snacks will probably be an authorized gluten-free, vegan, practical vitamin bar focusing on intermittent fasters in want of a low glycemic index meal to interrupt their quick and health-conscious people on the lookout for a clear, substantial snack to keep up vitality between meals.

Mikra’s debut on this mainstream vertical steps exterior of the nutraceuticals class it’s presently identified for, increasing visibility and shopper focusing on to succeed in a broader viewers and develop its buyer base in a wide range of instructions, maximizing potential for long run progress and total model resonance.

“This strategic growth into well being meals and snacks continues our mission to open new alternatives in a big and rising market class,” stated Mikra CEO and Lifeist COO Faraaz Jamal. “The worldwide protein bar market was valued at $4.68 billion USD in 2022 with an anticipated progress of over 6% yearly between now and 2029, in keeping with Fortune Enterprise Insights. Mikra’s merchandise typically cater to a distinct segment viewers, nonetheless, now we have created this explicit line to enchantment to an exponentially bigger shopper base, making it excellent for expanded distribution, each on-line and in brick & mortar areas.”

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Added Meni Morim, CEO of Lifeist, “Mikra’s growth into its second product class offers me nice confidence that it’s changing into the engine of progress for Lifeist that I do know it may be. Together with progress of Mikra’s nutraceutical choices, I’m trying ahead to extra significant contribution from Mikra towards Lifeist’s high and bottom-line objectives this 12 months.”

Every bar taste from the road will probably be paired with a definite desired impact by anchoring every recipe with an adaptogenic substance or compound. Adaptogens are mushrooms, herbs and different vegetation that, when consumed at optimum, compounded doses, might help the physique higher reply to stress, fatigue and nervousness, thus supporting total well-being.

The Mikra product roadmap for dietary bars consists of plans for 3 complete flavors paired with distinctive desired results, with growth timing to be decided primarily based on demand. The bars will probably be accessible on the market at wearemikra.com and will probably be provided to Mikra’s current accomplice, GNC. Different retailers all in favour of wholesale alternatives are inspired to inquire at [email protected].

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About Lifeist Wellness Inc.

Sitting on the forefront of the post-pandemic wellness revolution, Lifeist leverages developments in science and expertise to construct breakthrough corporations that remodel human wellness. Portfolio enterprise items embody: CannMart, which operates a B2B wholesale distribution enterprise facilitating leisure hashish gross sales to Canadian provincial authorities management boards together with for CannMart Labs, a BHO extraction facility producing excessive margin hashish 2.0 merchandise; Australian Vapes, one in every of Australia’s largest on-line retailers of vaporizers and equipment; and Mikra, a biosciences and shopper wellness firm creating and promoting progressive therapies for mobile well being.

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Info on Lifeist and its companies could be accessed by way of the hyperlinks beneath:

lifeist.com
cannmart.com
roilty.co
australianvaporizers.com.au
wearemikra.com

Contacts

Meni Morim, Lifeist Wellness Inc., CEO
Matt Chesler, CFA, FNK IR, Investor Relations
Ph: 647-362-0390
E mail: [email protected]

Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch or has in any method authorized or disapproved of the contents of this press launch.

Ahead Trying Info

This information launch incorporates “forward-looking data” inside the that means of relevant securities legal guidelines. All statements contained herein that aren’t historic in nature include forward-looking data. Ahead-looking data could be recognized by phrases or phrases comparable to “might”, “count on”, “possible”, “ought to”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “consider” or the unfavourable of those phrases, or different related phrases, expressions and grammatical variations thereof, or statements that sure occasions or circumstances “might” or “will” occur.

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The forward-looking data contained herein, together with, with out limitation, statements associated to the anticipated growth into the mainstream well being meals product market and the anticipated manufacturing and sale of well being meals merchandise, such because the anticipated launch of its first vitamin bar, throughout 2023, are made as of the date of this information launch and relies on assumptions administration believed to be cheap on the time such statements had been made, together with, with out limitation, expectations that Mikra’s anticipated well being meals merchandise to be developed by the Firm, together with its first vitamin bar, will probably be developed and accessible for buy as anticipated and in a well timed method and acquire market acceptance together with the growth of the marketplace for well being meals merchandise, its expectation that the marketplace for well being meals merchandise will stay sturdy and can proceed to develop as presently anticipated, the well being meals market will proceed to be a multi-billion greenback high-margin market, the introduction of latest merchandise, manufacturers and distribution channels will generate further consciousness of Mikra’s current and future merchandise and enhance income. Whereas we contemplate these assumptions to be cheap primarily based on data presently accessible to administration, there isn’t any assurance that such expectations will show to be appropriate. By its nature, forward-looking data is topic to inherent dangers and uncertainties which may be normal or particular and which give rise to the likelihood that expectations, forecasts, predictions, projections or conclusions is not going to show to be correct, that assumptions will not be appropriate and that aims, strategic objectives and priorities is not going to be achieved. Quite a lot of components, together with identified and unknown dangers, a lot of that are past our management, might trigger precise outcomes to vary materially from the forward-looking data on this press launch. Such components embody, with out limitation: the failure to develop and launch on the market well being meals merchandise in 2023, together with its first vitamin bar, the Firm’s incapacity to proceed to develop Mikra’s enterprise as a complete, together with its incapacity to extend distribution by way of retail and on-line channels, unanticipated modifications to present rules that may adversely influence Mikra’s enterprise, unexpected developments that may delay Mikra’s potential to develop and promote any well being meals merchandise, the chance that the anticipated demand for well being meals merchandise normally and people of Mikra specifically, together with shopper uptake, doesn’t develop as anticipated and dangers referring to the Firm’s potential to execute its enterprise technique and the advantages realizable therefrom. Further danger components can be discovered within the Firm’s present MD&A which has been filed below the Firm’s SEDAR profile at www.sedar.com. Readers are cautioned to not put undue reliance on forward-looking data. The Firm undertakes no obligation to replace or revise any forward-looking data, whether or not because of new data, future occasions or in any other case, besides as required by relevant regulation. Ahead-looking statements contained on this information launch are expressly certified by this cautionary assertion.

Supply: Lifeist Wellness Inc.