VANCOUVER, British Columbia, June 21, 2017 /CNW/ -- Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQB: LDSYF), (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") is pleased to announce that the Company has acquired ten acres in Adelanto, California for the development of a contract cultivation project.
The land parcel acquired by the Company for a total cash consideration of USD$500,000, is located in close proximity to the 22,000 square foot Adelanto facility currently being retrofitted by the Company for use in its planned business operations pursuant to the management agreements with NHMC, Inc. and CSPA Group, Inc.
The newly acquired ten acres is suitable for up to ten individual 20,000 square foot cultivation facilities. These facilities together could potentially produce as much as 25% of the total bio-mass necessary to supply LDS Scientific's projected annual manufacturing and production requirements to produce oil and distillate for CannaStrips™. The Company intends to develop and own the facilities, which will be leased to permitted cultivation entities that hold Conditional Use Permits in Adelanto. The Company, through series of operating and management agreements, will have a right of first refusal to acquire the bio-mass produced in the new cultivation facilities. The integration of this project into the Company's supply chain will allow for a continuous supply of clean bio-mass for manufacturing the purest and safest products possible. The CEO of LDS, Brad Eckenweiler commented, "This project is an integral part of the Company's overall strategy to control its production and manufacturing capabilities at every level of the supply chain. From seed to sale we intend to control the quality, effectiveness and the cost to the patients." The Company intends to submit its development plans to the City of Adelanto in July 2017 for approval.
About Lifestyle Delivery Systems Inc.
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. In addition, with the entering into its management services agreements with NHMC, Inc. and CSPA Group, Inc., the Company has begun its foray into being directly involved in the growing of medicinal ingredients for, and the manufacturing of, its products. From seed to sale, the Company's products and ingredients will be tested for quality and composition throughout the formulation and production processes, 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. 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.