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LIFESTYLE DELIVERY SYSTEMS INC. (OTCMKTS:LDSYF) reported that its Board has approved amendments to the firm’s articles to accept an advance notice policy. This policy is intended to support an efficient and orderly special and/or annual meeting procedure and ensure that all stockholders get adequate information and notice about director nominees.

The details

The Advance Notice Policy establishes a deadline by which record holders of Lifestyle’s common shares must file director nominations to the firm prior to any special or annual meeting of shareholders, and gives out the information that an investor must constitute in such notice to the firm. In the instance of a yearly meeting of shareholders, notice to the firm must be made over 30 days and not beyond 65 days prior to the annual meeting date, unless the yearly meeting is to be planned less than 40 days post the meeting was initially reported, in which case notice can be done no later than the business close on the tenth day post the announcement.

The Advance Notice Policy was adopted on November 3, 2017. Currently, it is in full force and effect. Lifestyle Delivery plans to seek shareholder approval of the Advance Notice Policy at the firm’s next annual general meeting. If case of the Advance Notice Policy being confirmed or confirmed as modified at the planned meeting, it will continue in effect in the way in which it is so established.

On November 3, 2017, the firm’s Board resolved to change the deadline for achieving certain financial milestones established under the terms of its escrow deals with the ex-shareholders of Canna Delivery Systems Inc. The firm has agreed to extend the deadline until December 31, 2017.

In the last trading session, the stock price of LIFESTYLE DELIVERY declined more than 15% to close the day at $0.4682.

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