Lifestyle Delivery Systems Grants Options to Officers and Directors
Vancouver, British Columbia, Canada, July 28, 2017, Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQB: LDSYF) and (Frankfurt: LD6, WKN: A14XHT) (“LDS” or the “Company”) announces that it has granted options to purchase up to 8,311,000 common shares to its executive officers, directors, and a consultant. The options granted may be exercised at a price of $0.50 per share and expire on July 27, 2019. Options to acquire up to 7,311,111 common shares vested immediately, and options to acquire up to 1,000,000 common shares issued to a consultant for investor relations services vest over a 12-month period beginning on October 27, 2017 at 250,000 per quarter.
In addition, the Company is pleased to announce that it has entered into a consulting agreement (the “Consulting Agreement”) with Skanderbeg Capital Advisors Inc. (“Skanderbeg”) for capital markets advisory and investor relations services. The Consulting Agreement is for a 12-month period beginning on July 1, 2017, and may be renewed on a month-to-month basis thereafter. The Company agreed to pay Skanderbeg $181,000, payable in advance for the initial period of 12 months, and to grant Skanderbeg options to acquire up to 532,900 shares of the Company’s common stock at $0.75 per share expiring on January 27, 2019. Pursuant to the Company’s stock option plan, the options vest over a 12-month period beginning on October 27, 2017 at 133,225 per quarter.
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.
Brad Eckenweiler, CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
Skanderbeg Capital Advisors
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.