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LIFESTYLE DELIVERY SYSTEMS INC. (OTCMKTS:LDSYF) Completes Private Placement Financing

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LIFESTYLE DELIVERY SYSTEMS INC. (OTCMKTS:LDSYF) reported that it has completed a private placement financing of a total of 5.5 million units at a price of Cdn$0.5 per unit, for gross proceeds of Cdn$2.75 million. Due to remarkable investor demand, this non-brokered financing was oversubscribed.

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Each unit offered in the Financing comprised of one common share of Lifestyle and one purchase warrant of common share entitling the holder to buy one additional common share at a price of $0.75 a Warrant Share for a period closing 1 year post the date of issuance. The firm may change the warrants expiration date if the daily volume weighted average price of the firm’s common shares on the CSE is equal to or more than Cdn$1.5 for ten successive trading days.

The securities offered under the Offering will be contingent to a hold period closing on May 12, 2018, as per applicable Canadian securities regulations.

On January 11, 2018, Lifestyle allowed an option to buy up to 500,000 stock options to Arni Johannson, the firm’s consultant and management’s contender for a director role at the upcoming AGM scheduled on January 25, 2018. This option is exercisable into company’s common shares at a price of Cdn$1.15 a common share and closes post 2-year completion of the grant.

In the last trading session, the stock price of Lifestyle Delivery declined more than 7% to close the day at $0.6957. The decline came at a share volume of 275,486 compared to average share volume of 210,629. Post the recent decline, the market cap of firm was noted at $69.4 million. So far in this year, the stock has posted drop of more than 32%. There seems no respite coming for the stock in the imminent trading sessions. The 52- week range of stock is 0.27 – 1.21.

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