TORONTO, Oct. 27, 2021 (GLOBE NEWSWIRE) — Lifeist Wellness Inc. (“Lifeist” or the “Company”) (TSXV: LFST) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF), a wellness company that leverages advancements in science and technology to enable you to find your path to wellness, today announced that Barbara Boyd, an accomplished global finance executive with more than 20 years of senior leadership experience within the CPG industry, has been nominated for election to the Lifeist Board of Directors (the “Board”). Ms. Boyd’s nomination is in replacement of current director Andrew Wilczynski’s nomination, who has decided not to stand for re-election to the Board at the upcoming annual shareholder meeting to be held in Toronto on November 30, 2021. The Notice of Meeting and Management Information Circular, outlining the meeting resolutions, has been filed on SEDAR at www.sedar.com and is also available through the Company’s website at www.lifeist.com.
Ms. Boyd is an accomplished global executive with a breadth of experience in corporate strategy, finance and enterprise risk management. She brings more than 35 years of senior leadership experience with Diageo Plc, Pepsi Beverages Company and KPMG, where she proved adept at building and sustaining revenue and profit growth through innovation, new categories and consumer experiences. She also has an established ability to develop risk management strategy, risk appetite and tolerances to assist in the delivery of long-lasting holistic business performance and governance, as well as strategic M&A. She is a graduate from University of Waterloo and a Chartered Professional Accountant.
Branden Spikes, Chairman of the Board, commented, “Barbara is a proven and respected collaborative leader, bringing a wealth of highly relevant experience and a passion for driving sustainable, long-term growth. Moreover, she is a champion of inclusion and diversity, making her an ideal cultural fit as well. So the Board was delighted to nominate Barbara and believes that if elected to the Board she will play a key role in validating strategies and initiatives as Lifeist expands its focus on consumer wellness, introducing new brands and consumer experiences. We are excited to benefit from her substantial expertise.”
“Lifeist is ideally positioned in today’s world, providing science-based solutions to address mental and physical wellness, and subject to my election by shareholders, I am excited to contribute my CPG and finance expertise to help create sustainable paths to personal wellness and profitable corporate growth,” added Ms. Boyd.
“Simultaneously, we thank Andrew Wilczynski for his invaluable service to the Board and Lifeist,” added Mr. Spikes. “Andrew joined the Board at a critical time, and his expertise in turnarounds and strategic planning was tremendously helpful in enabling Lifeist to reach this inflection point. As we enter the next phase of our evolution, we are thankful for his efforts, service, and professionalism and we wish him all the best.”
About Lifeist Wellness Inc.
Lifeist is at the forefront of the post-pandemic wellness revolution requiring smart solutions. Lifeist is a portfolio wellness company leveraging advancements in science and technology to enable you to find your path to wellness. Portfolio business units include: CannMart.com that provides Canadian medical customers with a diverse selection of cannabis products from a multitude of federally licensed cultivators and its U.S. customers with access to hemp-derived CBD and smoking accessories; and CannMart’s Canadian recreational cannabis distribution business facilitating recreational sales to a number of provincial government control boards. The Company is set to launch a new nutraceuticals division in this fourth quarter of 2021 with disruptive products in wellness.
Information on the Company and its many products can be accessed through the links below:
Lifeist Wellness Inc.
Menu Morim, CEO
Matt Chesler, Investor Relations
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 the anticipated launch of a nutraceutical division in the fourth quarter of 2021 and Ms. Boyd’s anticipated election to the Board are only predictions and are made as of the date of this news release. Various assumptions were used in developing the forward-looking information throughout this news release which management believed to be reasonable at the time such statements were made, including, without limitation, expectations that the introduction of a new nutraceutical division will generate additional revenue, Lifeist’s beliefs regarding the expected demand for nutraceutical products and the expected growth of that market, Lifeist’s belief that shareholders will elect Ms. Boyd to the Board based on her credentials, experience and fit within the Company, 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: unforeseen developments that would delay the Company’s ability to launch its nutraceutical division as anticipated and in a timely manner and the benefits realizable therefrom, and the failure of Ms. Boyd to be elected by shareholders at the upcoming annual general meeting. 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.
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.
Source: Lifeist Wellness Inc.