Lifeist Announces Closing of Non-Brokered Debt Financing
Summary
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.TORONTO, July 19, 2024 (GLOBE NEWSWIRE) -- Lifeist Wellness Inc. (Lifeist or the Company) (TSXV: LFST) (FRANKFURT: M5B0) (OTCMKTS: LFSWF) a health-tech company that leverages advancements in science and technology to build breakthrough ventures that transform human wellness, today announced that it has closed a non-brokered private placement (the "Offering") of secured convertible debentures (the "Debentures") for aggregate gross proceeds to the Company of $450,000 (Principal Amount). Portfolio business units include Mikra, a biosciences and consumer wellness company developing and selling innovative products for cellular health, and CannMart, which operates a B2B wholesale distribution business facilitating recreational cannabis sales to Canadian provincial government control boards including for CannMart Labs, a BHO extraction facility producing high margin cannabis 2.0 products..Information on Lifeist and its businesses can be accessed through the links below: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.This news release contains forward-looking information within the meaning of applicable securities laws. 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 the anticipated timing of the closing of the Offering, the anticipated use of proceeds from the Offering, and the receipt of required approvals, are made as of the date of this news release and is based on assumptions management believed to be reasonable at the time such statements were made, including, without limitation, expectations that: the Company will have the ability to complete the Offering and/or utilize the proceeds on the terms and within the timelines anticipated; and the Companys ability to obtain the required approvals to complete the Offering on the proposed terms and timeline. 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.