(via Thenewswire.ca)
Vancouver, British Columbia, Canada / TheNewswire / July 6, 2016 -
Lifestyle Delivery Systems Inc. (CSE: LDS and OTCQB: LDSYF) (“LDS” or the “Company”) is pleased
to announce that, it has closed its non-brokered private placement offering (the “Offering”) of 655,225 units (the “Units”) at a
price of $0.08 per Unit for total gross proceeds of $52,418.
Each Unit sold under the Offering consisted of one common share of the
Company and one share purchase warrant entitling the holder to purchase one additional common share for a period of two years after
closing at an exercise price of $0.10 per share.
The securities issued under the Offering will be subject to a hold period
expiring on November 7, 2016 pursuant to applicable Canadian securities laws.
In addition, effective June 30, 2016, the Company secured a $100,000
credit facility (the “Loan Facility”) with an unrelated third party creditor.
Under the terms of the Loan Facility, the Company received an initial advance of $50,000, and may
receive additional advances of up to an additional $50,000 at the discretion of the lender. The outstanding principal under
the Loan Facility accrues interest at a rate of 3% per month, compounded monthly, with the outstanding principal due on or before
January 1, 2017. As additional consideration for the initial advance under the Loan Facility, the Company agreed to issue to
an affiliate of the lender share purchase warrants for the purchase of up to 700,000 common shares of the Company, exercisable at a
price of $0.08 per share for a period expiring on January 15, 2018. If additional advances are made to the Company by the
lender, the Company will be required to issue share purchase warrants for the purchase of 14 additional common shares of the
Company for each additional $1.00 advanced. These additional warrants will be issued at the minimum price permitted by the
policies of the Canadian Securities Exchange and will extend for a term ending on January 15, 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.
Brad Eckenweiler
CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
investor.relations@lifestyledeliverysystems.com
1-866-347-5058
Lifestyle Delivery Systems Inc.
Suite 810, 789 W. Pender St.
Vancouver BC, V6C 1H2
T: (866) 347-5058 F: (604) 648-0517
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. 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.
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