Great news release this morning!
Lifestyle JV receives weed permit in California
2016-10-26 08:15 ET - News Release
Mr. Brad Eckenweiler reports
LIFESTYLE DELIVERY SYSTEMS INC.'S JOINT VENTURE PARTNER CSPA GROUP INC. RECEIVES CONDITIONAL USE PERMIT IN ADELANTO, CALIFORNIA
Lifestyle Delivery Systems Inc. and its wholly owned subsidiary, Canna Delivery Systems Inc. (CDS), have provided an update. Their joint venture partner CSPA Group Inc. has received its conditional use permit (CUP) in Adelanto, Calif., for extraction and manufacturing of medicinal cannabis products for sale throughout California.
The CUP permits the Joint Venture to operate within the Company's current 20,000 square foot facility to produce cannabinoid extracts and to manufacture CannaStrips in Adelanto, California. LDS will provide all the necessary equipment, technology and expertise to the Joint Venture for the production of cannabis oils, distillates, CannaStrips and additional medicinal cannabis products. Brad Eckenweiler, CEO of LDS states, "We are excited for the opportunity to have the CannaStrips technology operating in a permitted facility in California. Upon the completion of the equipment installations and infrastructure improvements the facility will have production capabilities for four hundred thousand packaged CannaStrips per day. With these capabilities it is conceivable that this facility could produce the necessary volume of CannaStrips to be delivered throughout the State of California". The Joint Venture has a target date of December 19th for completion of the facility's improvements. Upon the completion of these improvements and prior to the fiscal year end the Joint Venture intends to have distribution and sales throughout California, the largest cannabis market in the world which currently exceeds $2.9 billion in sales. The Company will have regular updates regarding the progress of the facility's improvements.
We seek Safe Harbor.
