Shares of Lifeist Wellness Inc (OTCMKTS:NXTTF) have been moving within a range over the past few weeks after the recent fall.
Market Reaction
On Thursday, NXTTF stock moved up 0.44% at $0.0808 with more than 488k shares, compared to its average volume of 269k shares. The stock has moved within a range of $0.0791 – 0.0940 after opening the trade at $0.0940.
Portfolio Company CannMart Labs Commences Commercialization of House Brands
Wellness company leveraging advancements in technology and science, Lifeist Wellness Inc (OTCMKTS:NXTTF), on November 4, 2021, announced that portfolio businesses, as well as wholly-owned subsidiary CannMart Labs Inc, have produced the first manufactured products under the 2.0 consumer-focused house brand “Roilty”.
The company also confirmed on commencing commercialization, which is an integral part of the firm’s strategy on introducing a portfolio of better-margin cannabis 2.0 products to the Canadian market.
Lifeisnt Wellness has got several purchase orders from retail customers in Saskatchewan. The balance limited edition of product SKUs will be sold to the Alberta provincial distributor.
Daniel Stern, CEO of Labs said that the company’s modern BHO extraction facility is functional and also shipping products. Stern added that the first SKUs are high-quality live resin products and demonstrate robust early interest from prospective customers.
Furthermore, the CEO said that the company has reached a long-awaited milestone and is looking ahead to the next manufacturing run ensuring distribution to the larger provinces. Labs operate 6,000 square feet in Etobicoke, Ontario licensed by Health Canada, and are meant for oil extraction incorporating leading technology designed for meeting EU Good
Manufacturing Practice certification requirements. The facility can produce cannabis extracts including shatter, live resin, wax, badder with the potential of expanding future distillate product offerings.
Key Quote
“Our state-of-the-art BHO extraction facility is now live, manufacturing and shipping product, and negotiating numerous recreational sales agreements leveraging our sister company CannMart Inc.’s network of provincial customers,” said Daniel Stern, CEO of Labs. “Our first SKUs are exceptionally high-quality live resin products and show strong early interest from prospective customers. Now that we have reached this long-awaited milestone, we look forward to the next manufacturing run, broadening distribution to the larger provinces, and launching other Roilty-branded and higher margin cannabis 2.0 products such as shatter and sugar wax in 2022. It’s also worth noting that an initial order for the Roilty-branded vape pen, Henry the Grape Ape, that was manufactured by a co-packer sold through CannMart Inc. into Alberta, sold out within seven days and additional quantities have been ordered to meet demand.”
Traders Review
NXTTF stock is trading below the 200-Day and 20-Day Moving averages of $0.0870 and $0.1003 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1720. The stock is down 48% so far this year.
