VANCOUVER, British Columbia, May 3, 2018 /PRNewswire/ -- Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQX: LDSYF), (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") announces signing of a Memorandum of Understanding with Quality Resources, LLC ("QR") to acquire commercial extraction technology for cannabis products for the California market.
QR has developed commercial scalability in the areas of extraction and distillation for cannabis oil. CSPA Group Inc., together with LDS Scientific Inc. and LDS Agrotech Inc., intends to use QR's technology to expand its market capabilities to include customer-specific contract extraction and distillation. In addition to the extraction and distillation technology, QR is developing a pesticide removal technology to achieve clean cannabis oil from previously contaminated cannabis raw plant and processed materials.
The addition of the QR technologies is intended to develop new revenue streams that will be capable of supporting the supply chain demands of CSPA Group's products as well as many other manufacturers, and dramatically reduce cost of raw material for all of the CSPA Group's product lines.
Brad Eckenweiler, CEO of LDS, stated, "The addition of the QR technologies will allow CSPA Group to offer extraction and distillation to the entire California cannabis industry at a price point that should cause most manufacturers in California to rethink the cost and the challenges of self-operated extraction and distillation." The Company intends to create the highest purity lab tested white label product at every level of extraction and distillation, along with guaranteed on-time deliveries, and dependable service.
About Lifestyle Delivery Systems Inc.
Lifestyle Delivery Systems Inc. is a licensed, state-compliant vertically integrated cannabis-related company. From our isogenic pollination nursery to our cutting edge, state-of-the-art production facility located in Southern California, LDS has become one of the most diverse, innovative and scientifically based cannabis companies throughout North America. 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. From start to finish, the production process tests for quality and composition of all the ingredients used in each and every strip, resulting in a delivery system that is safe, consistent and effective.
On behalf of the board of directors of Lifestyle Delivery Systems Inc.
CEO & Director
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Cautionary Disclaimer Statement:
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
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.
SOURCE Lifestyle Delivery Systems Inc.