Lifestyle closes $715,100 final tranche of financing
2016-09-12 09:50 ET - News Release
Mr. Brad Eckenweiler reports
LIFESTYLE DELIVERY SYSTEMS INC. CLOSES ITS NON-BROKERED PRIVATE PLACEMENT
On Sept. 9, 2016, Lifestyle Delivery Systems Inc. closed its non-brokered private placement offering at a price of 18 cents per unit, of which the first tranche totalling 2,653,000 units for gross proceeds of $477,540 was closed on Aug. 25, 2016.
In the second and final tranche, the company issued additional 3,972,778 units for gross proceeds of $715,100. Due to strong investor demand, the offering was oversubscribed. 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 second tranche of the offering will be subject to a hold period expiring on Jan. 10, 2017, 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.
We seek Safe Harbor.