LYF Food Technologies Entering the Cannabis Edibles and Functional Foods Market

Published: February 1, 2019

LYF Food Technologies Entering the Cannabis Edibles and Functional Foods Market

LYF Food Technologies Inc. is pleased to announce that significant progress has been made with regards to facility construction, strategic partnerships, business development and has applied for a standard processing licence from Health Canada. LYF is now beginning to fully execute the long-term strategic plan of becoming an industry leader in the value-added cannabis products sector, specifically in nutraceuticals, functional foods and traditional edibles.

LYF has over 25 years’ experience in manufacturing a vast array of food products for some of the largest grocery stores, health and wellness retailers and pharmacies across Canada. This large-scale food manufacturing makes them well positioned to service the cannabis market with a commitment to sourcing only the highest quality cannabis extracts and food ingredients.

“We are excited to be at the forefront of the cannabis edibles and functional foods industry, helping to lead, regulate, research and develop consumer products. LYF has the experience and technical expertise that will lead to the highest levels of safety and consistency in our products, while focusing on the ability to scale and realize healthy operating margins from a business standpoint,” said Paolo Pero, CEO of LYF.

From initial ideation 2-years ago, LYF has developed into a scalable business, with the ability to manufacture over $250,000,000 worth of value-added cannabis products per year, once final regulations are passed and licensing is completed on their wholly-owned, purpose-built facility in Kelowna, BC.

With the help of regulatory and licensing experts from Cannabis Compliance Inc. (CCI), who have a legacy of success in helping cannabis companies be successful, LYF is confident they will receive their standard processing licence in the coming months.

LYF is currently looking to raise $4,000,000 via a convertible note offering (the “Offering”). Proceeds will be used to complete the build-out of the Kelowna manufacturing facility, order production equipment and machinery, business development, marketing and for general corporate purposes. This Offering comes in the form of Secured Convertible Debentures, with each note earning 8% interest and exercisable at $0.25 per share for a period of three (3) years. The investment round is open to accredited investors, with a $10,000 minimum investment.

The Offering is expected to close on or about February 8, 2019, subject to customary closing conditions and LYF having the right to extend the closing at its sole discretion. T