Lifestyle Delivery closes $1-million private placement
Lifestyle Delivery Systems Inc (C:LDS)
Shares Issued 57,142,130
Last Close 6/27/2017 $0.62
Tuesday June 27 2017 - News Release
Mr. Brad Eckenweiler reports
LIFESTYLE DELIVERY SYSTEMS ANNOUNCES COMPLETION OF NON-BROKERED PRIVATE PLACEMENT FINANCING
Lifestyle Delivery Systems Inc. has closed a non-brokered private placement financing of a total of 2,019,540 units at a price of 50 cents per unit, for total gross proceeds of $1,009,770. Due to strong investor demand, the financing was oversubscribed.
Each Unit sold in the Financing consisted of one common share of the Company (each a "Unit Share") and one common share purchase warrant (each a "Warrant") entitling the holder to purchase one additional common share (a "Warrant Share") at a price of $0.75 per Warrant Share for a period ending one year from the date of issuance. The Company may accelerate the expiration date of the Warrants if the daily volume weighted average share price of the Company's common shares on the Canadian Securities Exchange (or such other stock exchange as the Company's common shares are then trading on) is equal to or greater than Cdn$1.50 for 10 consecutive trading days.
In connection with the Financing, the Company has agreed to pay cash commissions of Cdn$26,775 and to issue 53,550 finder's warrants (the "Finder's Warrant"). Each Finder's Warrant is exercisable for one Unit at the Issue Price for a period of 12 months from closing of the Offering.
The securities issued under the Offering will be subject to a hold period expiring on October 28, 2017 pursuant to applicable Canadian securities laws.
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 foray into being directly involved 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.
We seek Safe Harbor.
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