Vancouver, British Columbia--(Newsfile Corp. - December 1, 2017) - Lifestyle Delivery Systems Inc. (CSE: LDS) (OTCQB: LDSYF) (FSE: LD6) (WKN: A14XHT) ("LDS" or the "Company") announces that on November 30, 2017 the CSPA Group, Inc.'s ("CSPA") manufacturing facility in Adelanto was investigated by the San Bernardino County Sheriff's Department. The purpose was to determine if the facility was using volatile extraction methods. On September 14, 2017, the City of Adelanto issued a Medical Marijuana Permit for volatile extraction and a business license along with a Certification of Occupancy signed by the San Bernardino County Fire Department. All permits and licenses continue to be in good standing for the facility. The San Bernardino Sheriff's position is that volatile extraction is not permissible until January 1, 2018; however, the facility is allowed to continue all other operations and will continue production with CO2 extracted ingredients.
Brad Eckenweiler, CEO of LDS, stated, "The conflicting regulatory positions between all branches of government on this issue will most likely continue until such time as a single set of regulations are adopted and become effective on January 1. CSPA, the holder of the Permit, and LDS will continue to work with all regulatory agencies to comply with all applicable regulations." The use of CO2 extracted ingredients is an effective temporary solution until January 1, 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. In addition, with the entering into its management services agreements with NHMC, Inc. and CSPA Group, Inc., the Company has begun its direct involvement in the growing of medicinal ingredients for, and the manufacturing of, its products. From seed to sale, the Company's products and ingredients will be tested for quality and composition throughout the formulation and production processes, 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
FOR MORE INFORMATION, PLEASE CONTACT:
investor.relations@lifestyledeliverysystems.com
1-866-347-5058
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 particular, there is significant regulatory uncertainty with respect to the production and sale of medicinal and recreational marijuana in the United States of America. In particular, 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 and is subject to change at any time. In addition, although the State of California has adopted laws permitting the commercial cultivation, extraction and manufacturing of medicinal marijuana, final regulations with respect to the implementation of these laws have yet to be adopted. 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.
