Lifestyle Delivery Systems Inc. (LDSYF) Announces Enhanced Provisional Patent Filing and Additional Trademark Applications

The new provisional patent filed by Dr. Sanderson, the Company’s Chief Science Officer and the licensor of the CannaStrips^TM technology, adds additional enhanced capabilities to the current CannaStrips^TM formula, which will be implemented into the 2018 CannaStrips^TM product line. The new trademark applications are intended as an anticipatory action to protect the CannaStrips^TM oral strips brand in geographical territories where the Company may have future plans for distribution. The Canadian trademark filing was made back in April 2017, as part of the structural predevelopment plans for possible future product licensing and distribution collaboration or partnership regarding CannaStrips^TM technology in Canada. The Company has made its interest to collaborate on clinical trials in Canada known to a number of Canadian licensed producers (“LP”). Should the Company come to an agreement with a Canadian LP for sponsorship of Canadian clinical trials and subsequently have those trials result in an approval from Health Canada for the CannaStrips^TM technology for use in Canada, the Company would focus on a license agreement to introduce CannaStrips^TM into the Canadian market. LDS CEO, Brad Eckenweiler, stated, “We strongly believe that the CannaStrips^TM delivery system is so unique that with clinical trials from a recognized health organization to substantiate the efficacy of the technology it would have to be at the top of the list of preferred delivery solutions anywhere in the world.”

The Company will continue to pursue a collaborative effort for clinical trials with the intent on accomplishing commencement of those clinical trials in the first quarter of 2018.

Extension of Financial Milestones for Escrow Agreements

In addition, on December 28, 2017, the Company’s Board of Directors resolved to extend the deadline for satisfying certain financial milestones set out under the terms of its escrow agreements with the former shareholders of Canna Delivery Systems Inc. (“Canna”). Under the terms of the escrow agreements, a total of 7,800,000 common shares issued to the former shareholders of Canna (the “Performance Shares”) were held in escrow, subject to release upon the Company achieving certain financial milestones by December 31, 2017 (as amended on November 6, 2017).  The Company has agreed to extend the deadline for satisfying the financial milestones until June 30, 2018.  As of the date of this news release, a total of 2,100,000 Performance Shares remain subject to escrow, of which 840,000 Performance Shares are held by the Company’s CEO, Brad Eckenweiler.

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.