VANCOUVER, British Columbia, April 18, 2019 /CNW/ -- Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQX: LDSYF), (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") announces that its wholly-owned subsidiary, Core Isogenics Inc. ("Core Isogenics") has contracted a licensed California cannabis farm consisting of over two acres of outdoor cultivation and three-quarters of an acre of covered canopy cultivation land in Sacramento, CA.
Core Isogenics will supply expertise, seedlings and nutrients to the farm. The farm has two years of successful contaminant-free growth and all the necessary infrastructure to immediately begin cultivation of cannabis for Core Isogenics. The planting of seedlings is anticipated in early May 2019, upon completion of soil preparation and drip line irrigation installation scheduled for next week. The farm has already started cleaning and preparing the property in order to put cannabis plants in the ground as soon as possible. The farm is estimated to produce over 12,000 kilos of flower and trim for CannaStrips™ and for Highway 395 Dispensary. After the first harvest the Company plans on applying for additional cultivation licenses in order to maximize the footprint of the land, another half an acre of covered canopy.
The benefits of contracting with the farm are many. The harvest from the farm will generate significant revenue from the crop, as well as clean biomass for CannaStrips™ and additional products for Highway 395 Dispensary. These products will be acquired well below current market price and without any middlemen. As an additional benefit, Core Isogenics will have access to large-scale outdoor and covered grows in order to prove out the seed genetics in multiple environments, while attracting other growers and farms to Core Isogenics' products and supplying CSPA Group, Inc. with biomass at extremely attractive prices.
Casey Fenwick, President of LDS, stated, "We are fortunate to have established a relationship with this farm to contract this cultivation on their property. The contract cultivation on this farm will enable us to compete against black market pricing and still remain profitable. It's becoming apparent that to be competitive in the current cannabis market, companies will need to produce their own biomass on a large scale. With this farm, we have been fast-tracked to be able to accomplish this in a short amount of time because it is already an operating contaminant-free farm."
The Company's CEO, Brad Eckenweiler, stated, "This accomplishment is just another milestone in the vertical integration that will support our company and our subsidiaries well into the cannabis future. The most amazing element of our vertical structure is that at every level of operation, each element of the vertical structure is capable of supporting its own operations while adding value to the entire operation. This should result in increased overall profitability for LDS."
The Company will continue to update the market on all events as they become relevant.
About Core Isogenics Inc.
Core Isogenics Inc. holds a cultivation license and a nursery license located in Adelanto, California. Core Isogenics is creating isogenic strains for specific cannabis genetic characteristics, which will be consistent in each and every plant eliminating any variation of ingredients and or results for the customer experience. The strains produced will be genetically specific to the requirements of terpenes and cannabinoid profiles, both in variation and elemental structure, allowing for significant reduction of production cost as a result of extracting the exact formula from one plant vs many.
About CSPA Group, Inc.
CSPA Group, Inc. is located in Adelanto, California and is a City-Permitted and State-licensed manufacturer and distributor/transporter in the California cannabis industry. The company manufactures extracted oils and distillates, and produces CannaStrips™ under a license agreement with Lifestyle Delivery Systems Inc., a British Columbia company.
About Lifestyle Delivery Systems Inc.
Lifestyle Delivery Systems Inc. is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Company's technology produces infused strips (similar to breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. From start to finish, the production process, based on the Company's technology, tests for quality and composition of all the ingredients used in each and every strip which results in a delivery system that is safe, consistent and effective.
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.
SOURCE Lifestyle Delivery Systems Inc.