Lifestyle Delivery cheers California pot legalization
2016-11-09 15:49 ET - News Release
Mr. Brad Eckenweiler reports
LIFESTYLE DELIVERY SYSTEMS INC. WILL BENEFIT FROM CALIFORNIA VOTERS APPROVING PROPOSITION 64 FOR ADULT RECREATIONAL MARIJUANA USE
Lifestyle Delivery Systems Inc. and its wholly owned subsidiary Canna Delivery Systems Inc. (CDS) are ideally positioned to benefit from the passage of California's Proposition 64 allowing individuals to purchase and consume marijuana products for recreational use.
The addition of the legal recreational use of marijuana to the existing medical marijuana regulations in California is expected to increase the current market size from approximately $2.9-billion (U.S.) to over $7-billion (U.S.) annually. The recent expansion to the company's supply chain and production capabilities are well timed to meet the anticipated increase in demand well beyond the current estimated production requirements of CannaStrips. Brad Eckenweiler, chief executive officer of Lifestyle Delivery, stated: "We are very confident in our current medicinal cannabis model and its probability of success. However, the addition of a recreational market will almost certainly double our projected revenue model and accelerate our market penetration and branding of CannaStrips. It would be hard to imagine a more advantageous set of circumstances for LDS in this market sector, and as the CEO, I promise the company will take full advantage and benefit of our positioning."
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