DirkDiggIer1 wrote: Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQX: LDSYF), (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") is proud to announce that as of Tuesday, February 27, 2019, Lifestyle Delivery Systems Inc. has signed a Memorandum of Understanding to enter into a Joint Venture (the "JV") with National Green Biomed Ltd ("NGB"). The JV will build a manufacturing facility in Mission, British Columbia, Canada to produce CannaStripsTM.
Under the terms of the proposed JV agreement, NGB will provide an extension of its Rosebud Health Canada License to the JV and land for the new facility to manufacture CannaStripsTM. Upon completion of a definitive agreement, LDS will invest a total of CAD$255,000 in a private placement for shares of common stock of NGB at $0.30 per share. LDS will contribute funds for the permits, design and build-out of the facility. NGB will receive a royalty on all sales from the Mission facility, more specifically a 5% royalty for sales in Canada and a 3% royalty on all sales outside of Canada. The Mission facility will be required to purchase raw material from NGB and provide custom processing for future products or business opportunities presented by NGB.
The Company's CEO, Brad Eckenweiler, commented, "We are a Canadian company, our medical research team is Canadian, and our ultimate goal has always been to produce CannaStripsTM in Canada. Hopefully, with this agreement and favorable legislation, one day CannaStripsTM will be shipped around the globe. We look forward to working with the NGB team. They are extremely talented and well-positioned to move the CannaStripsTM project forward both in Canada and globally. I believe the CannaStripsTM technology, a discreet, smokeless, and odourless system, permits the formulation to be consumed in any situation, overcoming the challenges associated with traditional cannabis consumption and concerns of unintended sharing with others nearby. That combination makes CannaStripsTM a responsible alternative for the Canadian market."
The availability of CannaStripsTM in Canada has not yet been determined; the Company will keep its shareholders apprised of the Company's progress on this project.
About National Green Biomed Ltd.
Based out of Richmond, BC, Canada, National Green Biomed LTD (NGB) is a Late-Stage Applicant for Licensed Production under the 2018 Cannabis Act. With its 18,000+ ft(2) Richmond facility, and lush 68-acre property in Mission, BC, NGB is poised for the next phase and is preparing for site development construction to begin in 2019. NGB is well situated to service Greater Vancouver; the facility is within 15 minutes of the Vancouver International Airport and only 30 minutes from downtown Vancouver. NGB has a research and development component and has committed to donating $1Mil to UBC (https://www.ngbiomed.ca/2017/04/10/hello-world/) to investigate Cannabis for HIV/AIDS, pain management, and addressing the opioid crisis within Canada. NGB is committed to producing high quality health and lifestyle products, staking their claim in the burgeoning industry for CBD, edibles, and boutique coconut based products.
About Lifestyle Delivery Systems Inc.
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 a safer, healthier option to any other form of delivery, and also allow for inclusion of a wide spectrum of ingredients from over the counter medications to homeopathic, nutraceutical, vitamins and supplements. The technology provides a new way to accurately meter 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.
On behalf of the board of directors of Lifestyle Delivery Systems Inc.
Brad EckenweilerCEO & Director
FOR MORE INFORMATION, PLEASE CONTACT: investor.relations@lifestyledeliverysystem.com 1-866-347-5058