TYLER, TX--(NewMediaWire - Jan 6, 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.