Lifeist Cannabis' Subsidiary CannMart Enters Supply Agreement With Quebec Marijuana Distributor

Lifeist Wellness Inc. LFST (FRANKFURT: M5B) NXTTF announced that its wholly owned subsidiary CannMart Inc. has established a supply agreement with the SQDC, the sole retail distributor of licensed cannabis products in Quebec, Canada’s second most populated province.

As a result of this agreement, CannMart now maintains supply agreements with provincial government cannabis control boards and retailing bodies in the provinces of Ontario, Quebec, Alberta, British Columbia, Manitoba, New Brunswick and Saskatchewan, and the Yukon, Northwest Territories and Nunavut territories, constituting access to 95% of Canada’s population.

CannMart and the SQDC are currently negotiating purchase orders with a view to six SKUs reaching the SQDC’s 81 and counting retail stores across Quebec by end of summer 2022.

Management Commentary

“This agreement solidifies CannMart’s position as the pre-eminent nationwide value-adding platform for the Canadian cannabis market, connecting licensed producers and brands with provincial government control boards and independent retailers,” Daniel Stern, CEO of CannMart, said. “Our innovative model enables CannMart to provide tangible solutions in the Canadian cannabis supply chain.”

“The CannMart B2B business is one of Lifeist's innovative wellness assets and is uniquely positioned to capitalize on growing consumer demand for recreational cannabis products in Canada,” Meni Morim, Lifeist’s CEO, said. “We congratulate the team for this latest achievement and look forward to Quebec's contribution to CannMart's growing stream of revenue and gross profits.”

Photo: Courtesy of Tim Foster on Unsplash