The rights of LDS to purchase the memberships of both NHMC Inc. and CSPA Group Inc. were assigned to Kelly Christopherson, the current member of a medical cannabis nursery and a medical cannabis retailer located in Adelanto, CA. In exchange, Ms. Christopherson granted LDS a five-year option to purchase the NHMC, Inc. and CSPA Group, Inc. memberships for one hundred U.S. dollars (US$100.00) each. The assignment was made to facilitate the transfer of the permits described below by the City of Adelanto. On February 21, 2018, the NHMC, Inc. and CSPA Group, Inc. memberships were purchased for one million two hundred and fifty thousand U.S. dollars (US$1,250,000.00) and three million (3,000,000) shares of LDS common stock. The two companies hold three permits in the city of Adelanto in California — a Volatile Extraction and Manufacturing permit, a Cultivation permit and a Transportation and Distribution permit. Brad Eckenweiler, CEO of LDS, stated, “The early completion of the NHMC Inc. and CSPA Group Inc. membership purchase was, I believe, beneficial for all parties involved and we appreciate the work that the Davises contributed to the project.” The changes in the California regulations during late 2017 made the acceleration of the membership purchase of both NHMC Inc. and CSPA Group Inc. possible. For further information and details of the transaction please refer to the Notice of Proposed Transaction on Form 10 filed with the CSE and to the Material Change Report on Form 51-102F3 the Company filed on Sedar on February 23, 2018.
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.
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.
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.