DGAP-News

Lifestyle Delivery Systems Inc. Announces Increase to Previously Announced Brokered Private Placement

DGAP-News: Lifestyle Delivery Systems Inc. / Key word(s): Financing/Capital Increase Lifestyle Delivery Systems Inc. Announces Increase to Previously Announced Brokered Private Placement 24.02.2017 / 08:43 The issuer is solely responsible for the content of this announcement. Lifestyle Delivery Systems Inc. Announces Increase to Previously Announced Brokered Private Placement

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Vancouver, British Columbia, Canada, February 23, 2017, Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQB: LDSYF), (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") announced today that, due to strong interest in the Company's previously announced brokered private placement of up to 20,000,000 units (the "Units") at a price of $0.50 per Unit for total gross proceeds of up to $10,000,000 (the "Offering"), led by Canaccord Genuity Corp. (the "Agent"), the Company has elected to increase the size of the Offering by an additional 4,000,000 Units, for total gross proceeds of up to $12,000,000. As previously announced, the Agent will have an over-allotment option for up to 15% of the Offering. Completion of the Offering remains conditional upon the Agent completing its due diligence investigations to its satisfaction and the satisfaction of certain other conditions.

As previously disclosed, each Unit will consist of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional Common Share (a "Warrant Share") for a period of one year from the date of issuance at an exercise price of $0.75 per Warrant Share. The Company may accelerate the expiry of the Warrants if the Company's daily volume weighted average share price on the Canadian Stock Exchange (or such other stock exchange the Company may be trading on) is equal to or greater than $1.50 for 10 consecutive trading days. Net proceeds from the Offering will be used primarily towards the Company's strategic growth initiatives including its planned facility expansion, and for general working capital purposes. There is no assurance that the Offering will be completed as proposed, or at all.