Lifestyle Delivery System Announces Proposed Non-Brokered Private Placement
NOT FOR DISTRUBUTION TO U.S. NEWSWIRE SEERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
Vancouver, British Columbia, Canada, November 20, 2015, Lifestyle Delivery Systems Inc. (CSE: LDS and OTCQB: LDSYF) (“LDS” or the “Company”) is pleased to announce that it has arranged a non- brokered private placement offering of up to 7,000,000 units (the “Units”) at a price of $0.05 per Unit to raise gross proceeds of up to $350,000. Proceeds from the proposed private placement will provide funding for general corporate purposes.
Each Unit being offered under the private placement will consist of one (1) common share of the Company and one (1) common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at a price of $0.10 per share for a period of one year ending on the one year anniversary of the date of issuance, and thereafter at a price of $0.15 per common share for a period ending on the second anniversary of the date of issuance.
It is expected that related parties will subscribe for a significant portion of the proposed private placement. Finder’s fees consisting of cash or warrants or a combination thereof are expected to be paid in connection with the proposed private placement. Closing of the proposed private placement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals. All the securities issued under the private placement are expected to be subject to resale restrictions under applicable securities legislation.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and any applicable state securities laws or an exemption from such registration requirements is available.
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.
Suite 1980, 1075 W. Georgia St. Vancouver BC, V6E 3C9
T: (604) 417-6400 F: (778) 329-9361
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.
This news release contains forward-looking statements relating to the completion of the listing of the Company’s shares on the Canadian Securities Exchange and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “intend”, “anticipate”, and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the Canadian Securities Exchange and other risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.