Lifestyle Delivery Systems Receives Additional Advances Under $100,000 Loan Facility
July 20, 2016
Vancouver, British Columbia, Canada, July 19, 2016, Lifestyle Delivery Systems Inc. (CSE: LDS; OTCQB: LDSYF and XETR: LD6) (“LDS” or the “Company”) announces that on July 13, 2016, the Company received an additional $30,000 advance contemplated under a $100,000 credit facility (the “Loan Facility”), which was previously announced on July 6, 2016. In addition, the lender has agreed to advance an additional $20,000 remaining available under the Loan Facility.
The outstanding principal under the Loan Facility accrues interest at a rate of 3% per month, compounded monthly, and is due on or before January 1, 2017. As additional consideration for the above advances under the Loan Facility, the Company issued to an affiliate of the lender share purchase warrants for the purchase of up to 700,000 common shares of the Company, exercisable at a price of $0.10 per share for a period expiring on January 15, 2018.
About Lifestyle Delivery Systems Inc.
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.
On behalf of the board of directors of Lifestyle Delivery Systems Inc.
