Aussie Vapes Enjoys Single Highest Day of Sales in Its History

TORONTO, March 18, 2024 (GLOBE NEWSWIRE) -- Lifeist Wellness Inc. (“Lifeist” or the “Company”) (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: LFSWF), a health-tech company that leverages advancements in science and technology to build breakthrough ventures that transform human wellness, is pleased to announce that its wholly-owned subsidiary, Australian Vaporizers Pty Ltd (“Aussie Vapes”), enjoyed the single highest day of sales in its history on Friday, March 8, 2024. Aussie Vapes attributes the banner day to successful customer outreach and education about new rules governing aromatherapy vaporizer devices in Australia. Aussie Vapes was among the first companies to be granted a Therapeutic Goods Administration (TGA) import licence for aromatherapy vaporizer devices.

“As a leading Australian online supplier of aromatherapy products, we took it upon ourselves to help educate our customers about the changes being implemented by the TGA in accordance with its new rules governing these devices,” said Meni Morim, CEO of Lifeist. “We are gratified by the increase in sales and positive word of mouth that these efforts have inspired, and deeply appreciate the trust our customers place in us. We will continue to actively participate in this evolving conversation and anticipate contributing valuable insights that can help shape future policy.”

The TGA is Australia's regulatory authority for therapeutic goods, which includes aromatherapy vaporizer devices. It works to protect and promote public health and safety by assessing and monitoring the quality, safety, and performance of therapeutic goods sold in Australia. The TGA recently introduced regulations to address concerns related to the misuse of nicotine vaping devices by minors, and as of March 1, 2024, began requiring a special import licence for entities seeking to import such devices for sale. Aussie Vapes was granted one of the first such licences before the deadline.

As an established market leader in Australia, Aussie Vapes recognizes that navigating the aromatherapy vaporizer import licence application process presents a complicated challenge for smaller participants in the space. TGA regulations demand meticulous attention to detail, comprehensive and current documentation, and a clear understanding of rapidly evolving new industry requirements. The regulatory framework is necessarily strict, and the application process can be time consuming, requiring a substantial investment of time and resources.