Lifestyle Delivery Systems Inc.
Lifestyle Delivery Systems Inc. Announces that CSPA Group Inc. has Received an LOI for One Thousand Liters of Extraction per Month
DGAP-News: Lifestyle Delivery Systems Inc. / Key word(s): Incoming Orders/Market launch Lifestyle Delivery Systems Inc. Announces that CSPA Group Inc. has Received an LOI for One Thousand Liters of Extraction per Month The distillate produced under the LOI will not be in direct competition with any of the CSPA’s products, and will allow CSPA to gradually build up its production volume to the required one thousand liters per month. In order to accommodate the production level required by the recent orders, the Adelanto facility is currently in the process of increasing its extraction capabilities to over 800 liters of extracted material per month. These equipment modifications are expected to be completed in the next three weeks. To accommodate the volume requirements anticipated under the LOI, the Company ordered additional equipment for installation within the Adelanto Facility. In addition to equipment modifications at the Adelanto facility, the Company plans to also expand the current square footage of the facility by approximately 2,400 sq. ft. CSPA Group intends to increase its production capability to over 3,000 liters of extracted material per month. Brad Eckenweiler, the CEO of LDS, stated, “These equipment and facility modifications are required to fulfill current orders, as well as anticipated future orders for extracted cannabis material from licensed white label manufacturers and wholesale market distributors. This LOI at wholesale prices represents between six and seven million dollars in revenue per month for CSPA Group”. The Company believes that it is uniquely positioned in the market to be a significant wholesale/white label provider. The Company has the necessary extraction expertise and, with increased production capabilities, will be able to supply those wholesale or white label customers that are not in direct competition with the Company. The Company will continue to update its shareholders on its progress as information becomes available. On behalf of the board of directors of Lifestyle Delivery Systems Inc. Brad Eckenweiler Suite 820, 1130 W. Pender St. CSE : LDS OTCQB : LDSYF Frankfurt: LD6, WKN: A14XHT www.lifestyledeliverysystem.com Cautionary Disclaimer Statement: Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with environmental and governmental regulations. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, The Company undertakes no obligation to publicly update or revise forward-looking information.
30.05.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |