Lifestyle Delivery Systems Inc.’s Joint Venture Partner CSPA Group Inc. Receives Conditional Use Permit in Adelanto, California
Vancouver, British Columbia–(Newsfile Corp. – October 26, 2016) – Lifestyle Delivery Systems Inc. (CSE: LDS) (OTCQB: LDSYF) (FSE: LD6) and its wholly owned subsidiary, Canna Delivery Systems Inc., (CDS) are pleased to announce that their joint venture partner CSPA Group Inc. received its Conditional Use Permit (“CUP”) in Adelanto, California for extraction and manufacturing of medicinal cannabis products for sale throughout California.
The CUP permits the Joint Venture to operate within the Company’s current 20,000 square foot facility to produce cannabinoid extracts and to manufacture CannaStrips in Adelanto, California. LDS will provide all the necessary equipment, technology and expertise to the Joint Venture for the production of cannabis oils, distillates, CannaStrips and additional medicinal cannabis products. Brad Eckenweiler, CEO of LDS states, “We are excited for the opportunity to have the CannaStrips technology operating in a permitted facility in California. Upon the completion of the equipment installations and infrastructure improvements the facility will have production capabilities for four hundred thousand packaged CannaStrips per day. With these capabilities it is conceivable that this facility could produce the necessary volume of CannaStrips to be delivered throughout the State of California”. The Joint Venture has a target date of December 19th for completion of the facility’s improvements. Upon the completion of these improvements and prior to the fiscal year end the Joint Venture intends to have distribution and sales throughout California, the largest cannabis market in the world which currently exceeds $2.9 billion in sales. The Company will have regular updates regarding the progress of the facility’s improvements.
About CSPA Group Inc.
CSPA Group Inc. provides Californian’s with medical marijuana recommendations, safe access to high quality marijuana products grown and produced in pesticide free environments using only organic nutrients and processing methods. www.cspagroup.com
About Lifestyle Delivery Systems
LDS’ 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.
CEO & Director
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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.