Lifeist Wellness Inc. (OTCQB:NXTTF) (TSXV:LFST) (FRANKFURT:M5B) sold Findify AB, the company’s Swedish subsidiary that operates an AI-powered product search and discovery platform. Findify was acquired by Lifeist four years ago and successfully integrated technology to increase monetization of its online platforms.
“The sale of Findify is a natural part of Lifeist’s evolution from inhalation products e-tailer to a wellness portfolio company, where we leverage science and technology to deliver innovative consumer packaged goods, rather than to deliver increased web sales,” stated Meni Morim, CEO of Lifeist. “After a robust auction process, we were able to secure a deal that gave Lifeist 100% cash upfront to solidify our balance sheet. We are well capitalized to fund our growth initiatives in our core areas of focus, B2B recreational cannabis and nutraceuticals, where we see significant value creation for our stakeholders.”
