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"("LDS" or the "Company") is proud to announce that the Highway 395 Dispensary project has received approval for its construction plans from the San Bernardino County Fire Department. The City of Adelanto approved the addition of a Conditional Adult use permit to complement Highway 395 Dispensary's existing Medical Use permit for the dispensary, as well as delivery operations. The Conditional Adult Use permit is subject to the planning commission's approval of the construction plans. The property is owned by LDS Development Corporation and the construction will be the responsibility of Highway 395 Dispensary. Ownership of the completed project will remain an asset of LDS Development Corporation, a wholly-owned subsidiary of the Company.
The Company's CEO, Brad Eckenweiler, commented, "The addition of Adult Use to the 395 Dispensary permit will allow for both medical and recreational cannabis products to be sold at the dispensary and delivered direct to the customer. This additional permit will allow a significantly larger product line and increased revenue potential. With the ability to retail both medical and recreational products and the vertical integration of all aspects of the supply chain being controlled by LDS affiliates, Highway 395 Dispensary will be able to deliver a full spectrum of products direct to the consumer and reduce the cost of those products with the efficiencies created from a complete vertical integration from genetics to final product. That translates into significant savings to the customer and a competitive advantage in the marketplace for the LDS affiliates". The Highway 395 Dispensary project is easily visible from California Highway 395 with its daily traffic flow of over 120,000 vehicles. The intersection has a traffic light and turn lane for easy access to the proposed dispensary on Rancho Road. The plans for this project have been submitted and are awaiting approval from the planning department of the City of Adelanto.
The Company will keep shareholders apprised of its progress regarding this project"
