Latest update on another possible revenue generator for LDS
"The May 9, 2018 vote to include adult use in all the Adelanto Cannabis Ordinances was the first step in the process of modifying the current cannabis regulations in Adelanto. Currently, the only cannabis-related operations permitted in Adelanto must be for medical cannabis, to be used only by those individuals with a physician's recommendation. The addition of adult use provisions would allow the licensees in Adelanto to cultivate, manufacture, distribute, transport, dispense and test cannabis and cannabis related products for adult or recreational use in addition to current medical cannabis uses.
The second vote to ratify the May 9th decision by the City Council is scheduled for May 23, 2018. If on May 23rd the City Council again votes to modify its existing ordinances to include adult use, that modification would take effect in thirty days on June 22, 2018.
Brad Eckenweiler, the CEO of LDS, stated, "These modifications, if adopted by the City of Adelanto, will significantly increase the possible market audience for all cannabis licensees in Adelanto as well as bring additional tax revenue to the City. Current estimates suggest that the adult use market is growing and that the medical use market is stable or possibly decreasing. This ordinance modification would allow the LDS licensees and its affiliates to participate in the largest and fastest growing segment of the California Cannabis Market." The Company supports the City Council of Adelanto and its efforts to modify its current cannabis ordinances to include adult use operations in the city. The Company will continue to update its shareholders on this issue as information becomes available.
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."
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