VANCOUVER, British Columbia, July 12, 2019 /CNW/ -- Lifestyle Delivery Systems Inc. (CSE:LDS), (OTCQX:LDSYF), (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") and TransCanna Holdings Inc. (CSE:TCAN, XETR: TH8))) ("TransCanna") have mutually agreed to terminate the non-binding letter of intent ("LOI") dated June 28, 2019, whereby LDS and TransCanna would combine in an amalgamation transaction. After receipt from TransCanna of a request to modify the terms of the amalgamation, the Company's management determined that the proposed transaction would not be in the best interests of its shareholders and, as a result, the LOI has been terminated by mutual agreement. Neither LDS nor TransCanna has requested or provided any proprietary information to the other party, nor have they conducted any due-diligence with respect to the transaction proposed in the LOI.

The Company will continue to update the market on all events as they become relevant.

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.

About TransCanna Holdings Inc.

TransCanna Holdings Inc. is a Canadian-based company focused on providing integrated branding, transportation and distribution services, through its wholly-owned California subsidiaries, to a range of industries including the cannabis marketplace.

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.

SOURCE Lifestyle Delivery Systems Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2019/12/c8898.html