Lifestyle closes $477,540 first tranche of placement
2016-08-26 17:36 ET - News Release
Mr. Brad Eckenweiler reports
LIFESTYLE DELIVERY SYSTEMS INC. CLOSES FIRST TRANCHE OF ITS NON-BROKERED PRIVATE PLACEMENT
On Aug. 25, 2016, Lifestyle Delivery Systems Inc. closed the first tranche of its non-brokered private placement offering of up to 5,555,555 units at a price of 18 cents per unit, by issuing 2,653,000 units for total gross proceeds of $477,540.
Each unit sold under the offering consists 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 one year after closing at an exercise price of 18 cents per share. The securities issued under the first tranche of the offering will be subject to a hold period expiring on Dec. 26, 2016, pursuant to applicable Canadian securities laws.
About Lifestyle Delivery Systems
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.