THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. TORONTO, July 19, 2024 (GLOBE NEWSWIRE) -- Lifeist Wellness Inc. ("Lifeist" or the "Company") (TSXV:LFST) (FRANKFURT: M5B0) (OTC:LFSWF) a health-tech company that leverages advancements in science and technology to build breakthrough ventures that transform human wellness, today announced that it has closed a non-brokered private placement (the "Offering") of secured convertible debentures (the "Debentures") for aggregate gross proceeds to the Company of $450,000 ("Principal Amount"). The Company intends to use the proceeds from the Offering to pay existing accounts payable and for business development and general corporate purposes. The Debentures will bear interest at a rate of 10% per annum, and mature on July 19, 2025 (the "Maturity Date"). Holders of the Debentures will be entitled to convert the Principal Amount of the Debentures at any time on or prior to the Maturity Date at a deemed price of $0.18 per common share of the Company, subject to standard adjustments. The repayment of the Principal Amount of the Debentures will be secured by a security agreement over specific equipment of the Company. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals. There can be no assurance that the Offering will be completed, whether in whole or in part. There are no finders fees associated with the Offering. Closing of the Offering is subject to regulatory approval, including that of the TSX Venture Exchange ("TSXV"). The Debentures were offered and sold by private placement in Canada pursuant to exemptions from the prospectus requirements under National Instrument 45-106 - Prospectus Exemptions. This news release does not constitute an offer to ...