Canadian Company Lifeist Says Farewell To Cannabis Business Unit, Turns To Nutraceuticals
Portfolio Pulse from Jelena Martinovic
Lifeist Wellness Inc. (OTC:LFSWF) is divesting its cannabis business, CannMart Group, to 1463663 B.C. Ltd. for CA$5 million ($3.72 million) to focus on nutraceuticals. The deal includes cash, a vendor takeback loan, and share purchase warrants in Tierra Corp. This strategic shift aims to leverage the growing nutraceutical market, forecasted to reach $118.7 billion by 2028, while retaining the option to re-enter the cannabis space.
February 02, 2024 | 5:15 pm
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Lifeist Wellness Inc. divests its cannabis business to focus on the nutraceutical market, with a deal including cash, a loan, and share purchase warrants in Tierra Corp.
The divestment of the cannabis business allows Lifeist to reallocate resources and focus on the nutraceutical sector, which is experiencing significant growth. The strategic shift, coupled with the financial benefits from the sale and the potential upside from the retained interest in the cannabis sector through Tierra Corp., is likely to be viewed positively by investors. This move aligns with broader market trends and positions Lifeist to capitalize on the expanding nutraceutical market.
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