Lifestyle Delivery Systems Inc. Announces LDS Development Corp. Enters into a Sub-Lease Agreement for 10,000 Square Feet of its 20,000 Square Foot Adelanto Warehouse Facility
VANCOUVER, British Columbia, April 22, 2019 /CNW/ -- Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQX: LDSYF), (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") announces its wholly-owned subsidiary, LDS Development Corporation, has entered into a five-year sub-lease agreement for 10,000 square feet of warehouse space at $2 per sq. ft. per month, with TCM Distribution Inc., a wholly-owned subsidiary of TransCanna Holdings Inc. for its operations in Adelanto, California.
The reduced square footage will continue to meet the necessary additional warehouse and storage requirements of CSPA Group Inc.'s transportation and distribution operations of Highway 395 Dispensary and 420 Prime Delivery Service, which are scheduled to begin their operations early in the 3rd quarter of 2019. The facility is conveniently located on the lot adjacent to the CSPA Group's Commerce Way facility. This location, beyond being convenient, also allows for the use of the current armed security services to be utilized at both locations significantly reducing cost that would be required at any other location.
Brad Eckenweiler, CEO of LDS, stated,
Sharing half of this facility will still allow for the necessary market growth in all areas of the CSPA Group's product lines as well as those products from Core Isogenics and will reduce the cost of the facility. The 10,000 square feet that we are retaining will accommodate inventory of both raw material and finished products, even seeds and seedlings which will have specific environmentally controlled storage. The close proximity to our 9501 Commerce Way facility allows for easy and seamless coordination of transportation and distribution saving us not only time, but tens of thousands of dollars in transportation and security costs
The Company will continue to update the market on all operational developments as they become relevant.
About CSPA Group, Inc.
CSPA Group, Inc. is located in Adelanto, California and is a City-Permitted and State-Licensed manufacturer and distributor/transporter in the California cannabis industry. CSPA Group manufactures extracted oils and distillates and produces CannaStripsTM under a license agreement with Lifestyle Delivery Systems Inc. a British Columbia corporation.
About Core Isogenics Inc.
Core Isogenics Inc. holds a cultivation license and a nursery license located in Adelanto, California. Core Isogenics is creating isogenic strains for specific cannabis genetic characteristics, which will be consistent in each and every plant eliminating any variation of ingredients and or results for the customer experience. The strains produced will be genetically specific to the requirements of terpenes and cannabinoid profiles, both in variation and elemental structure, allowing for significant reduction of production cost as a result of extracting the exact formula from one plant vs many.
Lifestyle Delivery Systems Inc. is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Company's technology produces infused strips (similar to breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. From start to finish, the production process, based on the Company's technology, tests for quality and composition of all the ingredients used in each and every strip which results in a delivery system that is safe, consistent and effective.
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.
SOURCE Lifestyle Delivery Systems Inc.