Lifestyle Delivery Systems Inc. announces Adelanto City Council Takes First Step to Approving Adult Use for Adelanto
Vancouver, British Columbia, Canada, May 11, 2018, Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQX: LDSYF), (Frankfurt: LD6, WKN: A14XHT) (“LDS” or the “Company”) announces that the City Council of Adelanto at May 9, 2018, meeting voted to modify the Adelanto Cannabis Ordinances to include adult use provisions in all of its cannabis ordinances.
The May 9, 2018 vote to include adult use in all the Adelanto Cannabis Ordinances was the first step in the process of modifying the current cannabis regulations in Adelanto. Currently, the only cannabis-related operations permitted in Adelanto must be for medical cannabis, to be used only by those individuals with a physician’s recommendation. The addition of adult use provisions would allow the licensees in Adelanto to cultivate, manufacture, distribute, transport, dispense and test cannabis and cannabis related products for adult or recreational use in addition to current medical cannabis uses.
The second vote to ratify the May 9th decision by the City Council is scheduled for May 23, 2018. If on May 23rd the City Council again votes to modify its existing ordinances to include adult use, that modification would take effect in thirty days on June 22, 2018.
Brad Eckenweiler, the CEO of LDS, stated, “These modifications, if adopted by the City of Adelanto, will significantly increase the possible market audience for all cannabis licensees in Adelanto as well as bring additional tax revenue to the City. Current estimates suggest that the adult use market is growing and that the medical use market is stable or possibly decreasing. This ordinance modification would allow the LDS licensees and its affiliates to participate in the largest and fastest growing segment of the California Cannabis Market.” The Company supports the City Council of Adelanto and its efforts to modify its current cannabis ordinances to include adult use operations in the city. The Company will continue to update its shareholders on this issue as information becomes available.
About Lifestyle Delivery Systems Inc.
Lifestyle Delivery Systems Inc. is a licensed, state-compliant, vertically integrated cannabis-related company. From our isogenic pollination nursery to our cutting edge, state-of-the-art production facility located in Southern California, LDS has become one of the most diverse, innovative and scientifically based cannabis companies throughout North America. 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
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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
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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. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. 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.