Lifeist Subsidiary Mikra on Track to Generate Strong Growth in August Fueling Momentum into Fiscal Q4 2022
Mikra demonstrates healthy growth metrics indicated by record volumes and customer churn; Mikra CEO Faraaz Jamal to be featured on Newsmax this Sunday at 10AM ET
TORONTO, Aug. 26, 2022 (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 increasing momentum for its U.S. biosciences subsidiary Mikra Cellular Sciences Inc. (“Mikra”) and the airdate for Mikra CEO Faraaz Jamal’s interview on Newsmax TV.
Mikra’s online direct-to-consumer platform is on track to achieve its highest volume month with strong average order value (AOV), while maintaining a customer churn of less than 20%, meaning that over 80% of subscribers have continued with their monthly subscription, demonstrating the product’s strong repeat potential and laying the foundation for compounding month-over-month growth. Mikra’s volume growth in August is attributed to a combination of high levels of new customer acquisition and a high customer repeat rate, supported by a comprehensive marketing program, validating the company’s decision to invest in further marketing efforts to fuel growth.
Furthermore, Mikra has undertaken significant subscriber research and is actively formulating and testing a second version of CELLF in order to further improve customer lifetime value. The second version of CELLF is expected to be introduced to consumers in early fiscal Q4.
“Acquiring customers and retaining them for multiple months is critical to success for a consumer packaged goods company,” said Meni Morim, CEO. “In this regard, I’m thrilled to see that CELLF is producing top tier metrics since its introduction in March 2022 and is starting to carve out a meaningful piece of the health and wellness market and developing a fanbase. This sets the stage for compounding growth that is expected to fuel Lifeist’s goal for operational profitability for Mikra in the coming quarters.”
Faraaz Jamal’s interview with host Jane King will be featured across New To The Street programming including Bloomberg TV, Fox Business and Newsmax, potentially reaching over 500 million households in the U.S. and international markets. Viewers can see this latest segment on Newsmax TV this Sunday at 10:00AM ET.
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; CannMart Labs, a BHO extraction facility for the production of high margin cannabis 2.0 products; the CannMart.com marketplace, which provides U.S. 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 biosciences and consumer wellness company seeking to develop 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
[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 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 anticipated development and introduction of a second version of CELLF and Lifeist’s goal for operational profitability for Mikra in the coming quarters are made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including, without limitation, expectations that CELLF and the second version thereof and other cellular health products to be developed by the Company will be developed as anticipated and in a timely manner and gain or continue to gain market acceptance along with the expansion of the market for nutraceutical products, its expectation that the nutraceutical market will develop as currently anticipated, the nutraceutical market will continue to be a multi-billion dollar high-margin market, the introduction of new products and brands will generate additional revenue, as well as other considerations that are believed to be appropriate in the circumstances. 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 inability of the Company to develop, as anticipated, the second version of CELLF or Mikra’s business as a whole, unanticipated changes to current regulations that would adversely 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 the expected demand for nutraceutical products in general and those of Mikra in particular 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 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 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.