Wisdom Homes of America Inc (fka WOFA)

[VinnyChase]

Healthy Asylum Doubles CannaStrip Production Capacity
Pot Network Staff Business, Featured, Investment Opportunities, News, Public Companies 469 Views

Lifestyle Delivery Systems (OTCQB: LDSYF)(CSE: LDS) moved a little closer towards bringing to market its CannaStrip, a cannabis-infused edible similar to a breath strip pegged as a healthier alternative to smoking. Last June, Canna Delivery Systems, a wholly owned subsidiary acquired by Lifestyle in an all-stock deal in May 2015, entered into a non-exclusive license agreement with Healthy Asylum. Per the agreement, Healthy Asylum pays an annual fee for the rights to make and sell CannaStrips, while being required to purchase certain materials, such as packaging and non-cannabis ingredients used for the product, from Canna Delivery Systems.

According to Healthy Asylum’s CEO Joshua Roper at that time, the intentions were to begin production immediately. As often happens, production didn’t launch as quickly as expected. The CannaStrips website shows “Coming Soon” under the “Where to Buy” tab.

But, things are moving the right direction. In February, a regulatory filing by Lifestyle showed that Healthy Asylum completed an automated production run to be used for samples and distribution to health care professions for evaluation among patients. About the same time, Lifestyle inked a separate, similar licensing agreement with Wisdom Homes of America (OTCPK: WOFA), a company that, despite what its name implies, is a licensor of products focused on the cannabis market.

In March, both Healthy Asylum and Wisdom Homes were receiving their first orders of CannaStrips.

Thursday afternoon, Lifestyle announced that Healthy Asylum reconfigured the production line and design specifications, effectively doubled its strip production capabilities to a projected one million finished products per month. The company is also investigating new packaging solutions, modifications that cumulatively are expected to reduce the cost of goods.

“With these new developments we are anticipating a very successful 2nd quarter of 2016,” commented Lifestyle chief executive Brad Eckenweiler in a press release.

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Pot Network Staff
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