VANCOUVER, British Columbia, Feb. 13, 2019 /CNW/ -- Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQX: LDSYF), (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") announces that artwork has been finalized for the new CannaStrips™ packaging and has been delivered to the printer.
LDS and its subsidiary, CSPA Group, Inc., have been struggling with the numerous changes to the state packaging regulations which were passed in the last fourteen months. The CannaStrips™ packaging was delayed by the continuous regulatory changes to packaging size, verbiage, warning, and informational placements. The State of California has stated that the most recent changes to the packaging guidelines will be effective until 2020. Those changes have been incorporated into what the Company hopes to be the final CannaStrips™ packaging artwork and reviewed by CSPA Group's distributors, Sacramento advisers and corporate and cannabis legal teams to ensure compliance with California law. As of today, the artwork is in the queue to be printed. There will be three different variations of CannaStrips™ to be printed. First is the THC 10mg version which will replace the product that is currently in stores. That packaging required stickers to incorporate the latest regulatory changes to keep the product compliant pending printing of the final packaging. CSPA Group is adding a CBD version with less than 2% THC and a version named 80/20 (80% CBD/20% THC). All versions of CannaStrips™ will have ten individual strips to a package.
The Company's CEO, Brad Eckenweiler, stated, "The uncertainty of the state regulations has proven to be our single most challenging obstacle with regards to the production and distribution of CannaStrips™. The knowledge that we now have on the final version of the packaging regulations will make it possible to manufacture and distribute a volume of CannaStrips™ throughout California sufficient to meet the needs of every potential customer."
LDS President, Casey Fenwick, stated, "I personally spent time in some of the dispensaries for our product launch and I am more confident than ever that there is a significant market for CannaStrips™. The positive responses from customers in the first couple of weeks have confirmed that the market is ready for a smokeless, convenient and discreet method of cannabis use. The CannaStrips™ delivery system works, now our goal is to get them into every retail store in California as quickly as possible." The Company will continue to update the market as events occur.
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. CSPA Group manufactures extracted oils and distillates, as well as 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.