Lifestyle Delivery Systems Announces Proposed Share Consolidation and Name Change
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2019) - Lifestyle Delivery Systems Inc. (CSE: LDS) (OTCQX: LDSYF) (FSE: LD6) (WKN: A14XHT) ("LDS" or the "Company") announces that its board of directors has approved a consolidation of all of its issued and outstanding common shares on the basis of six (6) pre-consolidation shares for every one (1) post-consolidation share (the "Consolidation"). LDS also announces that, in conjunction with the Consolidation, the Company intends to change its name to "Core One Labs Inc." (the "Name Change").
As of the date of this news release, LDS has 139,465,194 common shares issued and outstanding. Upon completion of the Consolidation, LDS anticipates that there will be approximately 23,244,199 common shares issued and outstanding, not including rounding for any fractional amounts resulting from the Consolidation.
Completion of the Consolidation and Name Change is subject to the approval of the Canadian Securities Exchange. In accordance with LDS' Articles, the Consolidation and the Name Change do not require shareholder approval.
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 any other form of delivery but also allows for inclusion of a wide spectrum of ingredients from over the counter medications to homeopathic, nutraceutical, vitamins and supplements. 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.
On behalf of the board of directors of Lifestyle Delivery Systems Inc.
CEO & Director
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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.
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