VANCOUVER, British Columbia, May 23, 2019 /CNW/ -- Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQX: LDSYF), (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") announces that the farm managed by the Company's wholly-owned subsidiary, Agrotech LLC, has planted 10,000 seeds on two acres of licensed outdoor cultivation in Sacramento, CA.
The two one-acre farms planted the first of four crops for this cultivation season. This first crop planting of 10,000 auto flower seeds will be fully grown in 90 days. The production projections for the farms this season are over 12,000 pounds of biomass. The farms plan to yield two full auto flower harvests and two full term harvests. The full-term harvest takes longer to grow and can be used for a wider variety of products depending on the market and the needs of the Company at the time.
Casey Fenwick, President of LDS, stated, "It has been a lot of work getting to this stage and I am excited to see the progress we are making. This is an exciting time for the Company as a whole. This phase opens up a lot of new doors to the products we can sell through our anticipated dispensary and its home delivery service. Not only will it allow us to have more brands to sell, but it will also increase our margins within those brands."
The Company's CEO, Brad Eckenweiler, stated, "The fact that we are capable of producing 4 crops from these farms in a single season is evidence of our projected efficiencies using our genetics. The greater value may be the certainty of our cost of goods and the purity of the bio-mass produced on these farms."
The Company will continue to update the market on all events as they become relevant.
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.