VANCOUVER, British Columbia, May 17, 2018 /CNW/ -- Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQX: LDSYF), (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") announces that its affiliate, CSPA Group, Inc. ("CSPA"), has commenced modifications to its processing facility in Adelanto, California to accommodate an increased demand for white label and contract extraction and processing.
The planned modifications will increase the extraction capabilities of the Adelanto facility to over 800 liters of extracted material per month. These modifications are the first step in expanding the facility's capacity to accommodate the projected contract and white label business. The increased capacity is in addition to the current ingredient requirements of CannaStrips™ and Rêveur. The current market price, depending on quantity, quality and the final test results of extracted oil, is between $7,000 and $8,000 per liter, with high-grade distillate ranging between $10,000 and $15,000 per liter.
Brad Eckenweiler, the CEO of LDS, stated, "These modifications are the result of a detailed analysis of our current processing procedures to identify opportunities to maximize efficiencies and increase volumes. One important aspect of the modification process is that those modifications will not impact our current production operations." CSPA is positioning its extraction operations to provide its distributors and manufacturers with the highest quality available in extracted ingredients for white label and third-party manufactured products.
The Company will continue updating its shareholders on the progress as information becomes available.
About Lifestyle Delivery Systems Inc.
Lifestyle Delivery Systems Inc. is a licensed, state-compliant, vertically integrated cannabis-related company. From our isogenic pollination nursery to our cutting edge, state-of-the-art production facility located in Southern California, LDS has become one of the most diverse, innovative and scientifically based cannabis companies throughout North America. The Company's technology produces infused strips (similar to breath strips) that are not only a safer, healthier option to smoking but also a new way to accurately meter the dosage and assure the purity of the product. From start to finish, the production process tests for quality and composition of all the ingredients used in each and every strip, resulting in a delivery system that is safe, consistent and effective.
On behalf of the board of directors of Lifestyle Delivery Systems Inc.
CEO & Director
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Cautionary Disclaimer Statement:
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, The Company undertakes no obligation to publicly update or revise forward-looking information.
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SOURCE Lifestyle Delivery Systems Inc.