Canna Delivery Systems Inc. Executes Letter of Intent to License Proprietary Technology
Vancouver, British Columbia, Canada, January 6, 2016, Lifestyle Delivery Systems Inc. (CSE: LDS and OTCQB: LDSYF) (“LDS” or the “Company”) is pleased to announce that Canna Delivery Systems Inc. (“CDS”), the Company’s wholly owned subsidiary, has executed a non-binding letter of intent (“LOI”) to license its proprietary technology for producing dissolvable cannabis infused oral strips called “CannaStrips” to Wisdom Homes of America, Inc. (“WOFA”).
The LOI contemplates that CDS will grant WOFA a non-exclusive license to manufacture and distribute CannaStrips in Northern California. It is expected that WOFA will pay CDS an annual license fee of $25,000 and that Canna will be the exclusive supplier to WOFA of all non-medicinal ingredients for CannaStrips. In addition, CDS will grant WOFA access to the CannaStrips brand, with an option to contract or sub-contract to cannabis producers and retailers throughout Northern California. Grant of the license rights remains conditional upon the negotiation and execution of definitive binding agreements.
James Pakulis, the President of Lifestyle Delivery Systems Inc. and CEO of Wisdom Homes of America, Inc., stated: “We are excited for the opportunity to partner with Wisdom Homes of America and believe that the partnership with this company will allow CDS to successfully introduce its CannaStrips products to Northern California market.“
About Wisdom Homes of America, Inc.
Wisdom Homes of America, Inc. is a manufactured housing retail center owner and operator. Wisdom Homes is headquartered in Tyler, Texas. The company’s common stock trades on the OTC Pink marketplace, under the ticker symbol “WOFAD”. More information about Wisdom Homes can be found at http://wisdomhomesofamerica.com
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. 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.
Brad Eckenweiler CEO & Director
Lifestyle Delivery Systems Inc. Suite 810, 789 W. Pender St.
Vancouver BC, V6C 1H2
T: (866) 347-5058 F: (604) 648-0517
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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.