Lifestyle Delivery Systems Closes Non-Brokered Private Placement

 
 

Vancouver, British Columbia, Canada, December 11, 2015, Lifestyle Delivery Systems Inc. (CSE: LDS and OTCQB: LDSYF) (“LDS” or the “Company”) is pleased to announce that it has closed its non-brokered private placement offering (the “Offering”) of 7,600,000 units (the “Units”) at a price of $0.05 per Unit for total gross proceeds of $380,000.
Each Unit sold under the Offering consisted of one common share of the Company and one share purchase warrant (the “Warrants”) entitling the holder to purchase one additional common share for a period of two years after closing at an exercise price of $0.10 per share during the first year after closing, and an exercise price of $0.15 per share during the second year after closing.
In connection with the Offering, the Company paid cash finders fees totaling $22,080, and issued 441,601 finders warrants (the “Finders Warrants”). The Finders Warrants entitle the holder to purchase one common share of the Company on substantially the same terms as the Warrants. Directors and executive officers of the Company, and the spouse of a director of the Company, subscribed for a total of 2,080,000 Units, for total gross proceeds of $104,000. No finders fees were paid in connection with the subscriptions of the directors and executive officers or the spouse of the director.
The securities issued under the Offering will be subject to a hold period expiring on April 12, 2016 pursuant to applicable Canadian securities laws.
Proceeds from the Offering will be used for general corporate purposes.
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
FOR MORE INFORMATION, PLEASE CONTACT:
investor.relations@lifestyledeliverysystem.com
1-866-347-5058
Lifestyle Delivery Systems Inc. Suite 810, 789 W. Pender St.
Vancouver BC, V6C 1H2
T: (866) 347-5058 F: (604) 648-0517
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.