TYLER, TX - (NewMediaWire) - January 06, 2016 - Wisdom Homes of America, Inc. ("Wisdom Homes" or the "Company') (OTC PINK: WOFAD), an owner and operator of manufactured homes retail centers, today announces the effectiveness of its reverse stock split, and the execution of a non-binding letter of intent ("LOI") to license a proprietary technology for producing dissolvable cannabis infused oral strips.
Beginning on December 30, 2015, following the 1:50 reverse stock split, Wisdom Homes of America, Inc.'s new symbol is "WOFAD". After twenty trading days, the symbol will revert back to "WOFA." The Company trades on the OTC Pink.
The Company also announces the execution of a non-binding LOI with Canna Delivery Systems Inc. ("Canna"), a wholly owned subsidiary of Lifestyle Delivery Systems Inc., to license Canna's proprietary technology for producing cannabis infused oral strips (similar to breath strips) called "CannaStrips." The LOI contemplates that Canna will grant to the Company a non-exclusive license to manufacture and distribute CannaStrips in Northern California. It is expected that the Company will pay Canna an annual license fee of $25,000 and that Canna will be the exclusive supplier to the Company of all non-medicinal ingredients for CannaStrips. In addition, the Company will have access to the CannaStrips brand, and will have the option to contract or sub-contract to cannabis producers and retailers throughout Northern California. Acquisition of the license rights remains conditional upon the negotiation and execution of definitive binding agreements.
James Pakulis, CEO of Wisdom Homes of America, Inc. and the President of Lifestyle Delivery Systems Inc., stated, "We believe the cannabis industry has undergone significant changes over the past three years. However, one of the areas in the industry that's lacking, in our opinion, is consistent, high quality and affordable pricing for oral products which may be used for both medicinal and recreational purposes. We firmly believe CannaStrips provides a solution to that challenge."
About Wisdom Homes of America, Inc.
Wisdom Homes of America, Inc. is a manufactured housing retail center owner and operator. Wisdom Homes is headquartered in Tyler, Texas. The Company's common stock trades on the OTC Pink, under the ticker symbol "WOFAD". More information about Wisdom Homes can be found at http://wisdomhomesofamerica.com
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements". Wisdom Homes of America, Inc. cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. Wisdom Homes of America, Inc. undertakes no obligation to revise these statements following the date of this news release.
The news, reports, views and opinions of authors (or source) expressed are their own and do not necessarily represent the views of CRWE World.