VANCOUVER, British Columbia, May 24, 2018 /CNW/ -- Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQX: LDSYF), (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") announces that on May 23, 2018, the City Council of Adelanto approved the inclusion of Cannabis Adult Use into its current cannabis regulations. The vote was 3 for and 0 against the ordinance modification; there being no public opposition, the modifications will take effect next week.
All of the LDS affiliates and licensees will benefit from this ordinance modification. The cannabis adult use market is larger than the medical cannabis market and growing at a rate estimated to be three times faster than the medical cannabis market. Brad Eckenweiler, the CEO of LDS, stated, "The adoption of Adult Use by the City of Adelanto is of significant benefit for our affiliates and licensees. CSPA Group, Inc. and NHMC Inc. will be able to apply for license modifications to include Adult Use. With the modification to their existing permits the number of legal dispensaries that can carry CannaStripsTM and Rêveur will more than double, and the markets for contract extraction and distillation will increase by more than 300%." The Company has been an advocate of the ordinance modifications and contributed suggestions during the city's ordinance workshop process. The LDS affiliates, CSPA and HHMC, intend to submit applications for the Adult Use permit modifications as soon as the city makes those applications available. The Company will continue to update 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.
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.