Canna Delivery Systems Inc. signs a Non-Exclusive Definitive License Agreement with Healthy Asylum Inc. a California Corporation for a CannaStrips Technology License
Vancouver , British Columbia, Canada, June 29, 2015, Canna Delivery Systems Inc. (“CDS”), a wholly owned subsidiary of Lifestyle Delivery Systems Inc. (CSE: LDS) (the “Company”), is pleased to announce that it has entered into a non-exclusive License Agreement with Healthy Asylum Inc. (“HAI”). CDS will license the CannaStrips technology to HAI for an annual USD$25,000 fee and HAI will also be responsible to pay CDS for all ongoing packaging costs and non-cannabis ingredients for production. HAI will be responsible for the sourcing of any cannabis ingredients. The license has a one year renewable term and restrictive conditions on formulation, manufacturing, packaging and distribution methods. The necessary equipment must be leased from CDS and can only be used for the purposes of producing the licensed products.
Healthy Asylum Inc.’s CEO, Joshua Roper, stated “We intend to begin production immediately and anticipate having our first sales this July.”
CDS’filmstrip technology produces an oral delivery system that can be used for energy elixirs, herbal remedies and a smokeless alternative option to medical and recreational users of cannabis. CDS’ 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. CDS will license the technology to licensees, who will in turn manufacture CannaStrips where the use of cannabis is legal.
The Company’s CEO, Brad Eckenweiler, commented, “This completed License Agreement represents the Company’s first step in its monetization of the CannaStrip technology business model”.
On behalf of the boar d of dir ectors of Lifestyle Deliver y Syst ems Inc.
“Brad Eckenweiler” Brad Eckenweiler CEO & Director
FOR MORE INFORMA TION, PLEASE CONTACT:
Tim Hamilton email@example.com 604-417-6400
Cautionar y 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.