Lifeist Wellness wholly owned subsidiary CannMart will begin exporting cannabis products to Australia, the first international export and expansion for CannMart, in an agreement with Aura Therapeutics Pty Ltd.
"We are excited to bring a diverse range of CannMart products to the Australian market in 2024,” said Tom Fay, CEO of Aura Therapeutics. “We have confidence in the anticipated growth of the Australian Medical Cannabis sector in the coming year and believe our collaboration with CannMart will enable us to capitalize on this expansion by offering an extended range of high-quality products to Australian patients.”
“Beginning our exporting journey in Australia brings significant value and opportunities for CannMart,” said Daniel Stern, CEO of CannMart. “By fulfilling exports in an array of cannabis product categories, we will be able to expand revenue streams, while also building an international brand presence for CannMart and in-house brand Roilty concentrates.”
The export agreement with Aura will include exclusive terms to distribute in-house brand Roilty concentrates. With 4% of Australian medical cannabis users choosing THC extracts as their preferred method of consumption, it creates an international brand expansion opportunity and significant revenue stream with strong margin potential for CannMart in 2024. As the Australian regulations and guidelines surrounding medical cannabis are like that of Canada, there will be efficacy in marketing support and brand development, leveraging proven successes from the Canadian market.
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