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
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