VANCOUVER, British Columbia, Nov. 22, 2017 /CNW/ -- Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQB: LDSYF) and (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") announces that on November 16, 2017, the Company submitted plans for a cultivation facility to be developed on the Company's ten acre parcel to the city of Adelanto planning department. The proposed 202,500 square foot cultivation facility will be an environmentally controlled hybrid greenhouse capable of producing over 150,000 mature cannabis plants from seedlings every 100 days. The Company plans to subdivide the facility which will be leased to permitted and licensed cultivation entities that meet the Company's strict requirements. The Company anticipates receiving the construction permits in time for construction to commence before the end of its fiscal 2017.
Brad Eckenweiler, CEO of LDS, stated, "This facility will represent approximately 20% of the raw cannabis material required to meet the manufacturing, extraction and distillation requirements of CSPA and LDS Scientific. We will continue pursuing qualified contract growers for our product-specific cannabis genetics grow program. This will be necessary to meet the additional raw material needs of the manufacturing facility as well as our continued dependence on current northern California growers producing high grade contaminate free material." The LDS Scientific's team anticipates releasing production and sales figures generated from November in early December.
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 direct involvement 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.
Brad Eckenweiler, 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 particular, there is significant regulatory uncertainty with respect to the production and sale of medicinal and recreational marijuana in the United States of America. In particular, 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 and is subject to change at any time. In addition, although the State of California has adopted laws permitting the commercial cultivation, extraction and manufacturing of medicinal marijuana, final regulations with respect to the implementation of these laws have yet to be adopted. 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.