2016-10-18 08:28 ET - News Release
Mr. Brad Eckenweiler reports
LIFESTYLE DELIVERY SYSTEMS INC. AND CANNA DELIVERY SYSTEMS INC. SIGN A BINDING MEMORANDUM OF UNDERSTANDING FOR A JOINT VENTURE TO PRODUCE CANNASTRIPS WITH CSPA GROUP INC.
Lifestyle Delivery Systems Inc. and its wholly owned subsidiary, Canna Delivery Systems Inc. (CDS), have signed a binding memorandum of understanding for a joint venture to produce CannaStrips with CSPA Group Inc.
The proposed joint venture would establish operations within an existing building that currently has a manufacturing permit to extract and produce medicinal cannabinoid products in Adelanto, Calif. Upon completion of a final agreement the company intends to provide all the necessary equipment and expertise to the joint venture for the production of medicinal cannabis products using the CannaStrips technology. Brad Eckenweiler, chief executive officer of LDS, stated: "We are very optimistic that upon the completion of this joint venture agreement and the resulting permitted facility becoming operational the CannaStrip brand can be produced and distributed in California in a manner acceptable and within the regulatory guidelines of the State of California. The fact that California represents the largest market segment in the cannabis industry worldwide with revenues that exceed $2.9-billion (U.S.) is why we have chosen to focus our efforts here first to establish the CannaStrip brand."
We seek Safe Harbor.