Lifestyle Delivery Systems Inc.'s Subsidiary, CSPA Group, Inc., Signs a Lease Agreement for a 20,000 Square Foot Warehouse Facility

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Lifestyle Delivery Systems Inc.'s Subsidiary, CSPA Group, Inc., Signs a Lease Agreement for a 20,000 Square Foot Warehouse Facility

PR Newswire

VANCOUVER, British Columbia, April 10, 2019 /PRNewswire/ -- Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQX: LDSYF), (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") announces that its wholly-owned subsidiary, CSPA Group, Inc., has entered into a five-year lease agreement for 20,000 square feet of warehouse space at $2 per sq. ft. per month. The new facility will be used to expand the Company's transportation and distribution operations in Adelanto, California.

The requirement to increase the square footage for CSPA Group, Inc.'s transportation and distribution operations is dictated by the expected start of operations of Highway 395 Dispensary and 420 Prime Delivery Service, which are currently scheduled for the 3rd quarter of 2019. The new facility is conveniently located on the lot adjacent to the current Adelanto manufacturing facility, removing the need to engage third-party transportation services as well as allowing the Company to use its current armed security services at both locations significantly reducing the cost that would be required at any other location. The Company estimates its initial transportation and distribution space requirements to be approximately 10,000 square feet, which will allow the Company to sublease an unused portion of the building until increased space is required. 

Brad Eckenweiler, CEO of LDS, stated, "This additional facility will allow for significant market growth in all CSPA Group's product lines as well as the products from Core Isogenetics, Inc. The warehouse will hold inventory of both, raw material and finished products, and will include an environmentally-controlled storage space for seeds and seedlings. The availability of this facility is certainly timely for our operations; not only is it located in the green zone, but the proximity to our manufacturing space will allow us to easily coordinate transportation and distribution of our products saving us time and tens of thousands of dollars in transportation and security costs." The Company anticipates only limited construction cost to prepare the building for transportation and distribution operations. The Company will continue to update the market on all operational developments as they become relevant.  

About CSPA Group, Inc.

CSPA Group, Inc. is located in Adelanto, California and is a City-permitted and State-licensed manufacturer and distributor/transporter in the California cannabis industry. The company manufactures extracted oils and distillates, producing CannaStripsTM under a license agreement with Lifestyle Delivery Systems Inc. a British Columbia company.

About Core Isogenetics, Inc.

Core Isogenics, Inc. is located in Adelanto, California and is a City-permitted and State-licensed cultivation and nursery operation in the California cannabis industry. Developing isogenic seed strains and automated cultivation methods for the cannabis industry with Lifestyle Delivery Systems Inc., a British Columbia company.

About Lifestyle Delivery Systems Inc.

Lifestyle Delivery Systems Inc. is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Company's technology produces infused strips (similar to breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product.  From start to finish, the production process, based on the Company's technology, tests for quality and composition of all the ingredients used in each and every strip which results in a delivery system that is safe, consistent and effective.

Lifestyle Delivery Systems Inc.
Brad Eckenweiler
CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT: 
[email protected] 

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.

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/lifestyle-delivery-systems-incs-subsidiary-cspa-group-inc-signs-a-lease-agreement-for-a-20-000-square-foot-warehouse-facility-300829666.html

SOURCE Lifestyle Delivery Systems Inc.

Copyright CNW Group 2019

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).