Lifeist Wellness sells Australian Vaporizers to Flora Growth for C$900,000

Lifeist Wellness (LFSWF) announced the sale of Australian Vaporizers, its wholly owned Australian subsidiary to Flora Growth Corp. (FLGC). The sale was completed through a share purchase agreement entered into between Lifeist, as vendor, and Flora Growth Corp, as purchaser, pursuant to which Lifeist has sold the issued and outstanding shares of Aussie Vapes to Flora, for total consideration valued at approximately C$900,000, payable by Flora issuing from treasury to the Company 550,000 Flora common shares. The terms of the sale of Aussie Vapes represent a substantial improvement over the previous agreement announced September 18, 2023. With the present sale, Lifeist has delivered C$400,000 of inventory and C$50,000 cash. This represents a C$1.1 million improvement in working capital to the benefit of Lifeist shareholders. The sale also provides Lifeist shareholders with immediate meaningful exposure to positive developments in the U.S. market through a significant position in Flora common shares, with the potential for further cooperation with Flora in the future as events unfold. The transaction does not involve any Non-Arm’s Length Parties