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This is the initial move for $LXRP stepping into MMJ Sector! $LXRP huge marijuana JV news! Lexaria Enters Joint Venture with Enertopia Corp in Medical Marihuana Industry

http://finance.yahoo.com/news/lexaria-enters-joint-venture-enertopia-130000436.html

Kelowna, BC / ACCESSWIRE / March 5, 2014 / Lexaria Corp. (LXRP-OTCQB) (LXX-CSE) (the "Company" or "Lexaria") reports that its board of directors has decided to make a strategic entry into the medical marihuana business by way of an important Joint Venture with Enertopia Corp. (TOP-CSE, ENRT-OTCQB).

Robert McAllister, CEO and Chair of Enertopia Corp, has also agreed to join the Advisory Board of Lexaria Corp, in order to evaluate and negotiate marijuana acquisitions and joint ventures.

Under the terms of the Agreement, Lexaria Corp has agreed to pay Enertopia 1 million restricted common shares in return for Enertopia’s participation. Lexaria has also agreed to pay 500,000 restricted common shares to Mr. McAllister in return for his participation on the Lexaria Adisory Board. Following the issuance of these shares, Lexaria will have a total of 18,431,452 shares issued and outstanding, and 21,256,452 shares fully diluted.

“The regulated marihuana industry is attracting large capital flows as investors throughout North America are recognizing this rare opportunity to participate financially in the early days of a brand new industry sector,” commented Lexaria President, Chris Bunka. “Although Lexaria has devoted its history exclusively to the oil & gas industry, we have an obligation to shareholders to concentrate on increasing shareholder value, and we believe there is no greater opportunity to achieve this today other than through participation within the regulated marijuana sector.”

Robert McAllister, President of Enertopia, said “Enertopia is pleased to welcome Lexaria as its strategic partner in the fast-moving medical marihuana sector. The two companies working together should be able to close on larger marihuana projects that might be out of reach of a smaller company.”

Lexaria will not participate in Enertopia’s pre-existing medical marihuana operations. Instead, Lexaria expects to utilize Enertopia’s position as a recognized leader in the industry, to enter new agreements that are accretive to both Enertopia and Lexaria.

Lexaria and Enertopia will share a reciprocal Right Of First Refusal so that each company may benefit from exposure to project opportunities sourced by the other company.

Health Canada approved producers under the new Medical for Marihuana Regulations Purposes (MMRP) will also be allowed to export to other countries in the world. The new MMRP program is scheduled to be fully in effect on April 1, 2014. Health Canada projects greater than 55% per annum growth in each of the next nine years in the number of licensed customers to a projected total of more than 430,000 by 2024. In 2002, there were only 477 authorized patients in Canada.

To illustrate the inherent demand, Health Canada has published actual use data from calendar year 2012. In January 2012 there were 13,781 persons across Canada authorized to possess medical marihuana. By December of 2012 that had increased to 28,115 persons: an increase of more than 100% in a single year.

Metrics that interested parties can use to roughly gauge the scope of the industry are that an average patient might use a minimum of 1 gram per day which is 365 grams or 0.8 pounds per year. At an expected price of $7.60 per gram, this equates to potential revenue per patient of $2,774 per year.

Another metric used by existing licensed growers of medical marihuana is that each square foot of active growing space will yield in excess of $1,000 per year, in gross revenue, assuming of course that all production that is grown is in fact sold to authorized persons.

Lexaria is actively investigating opportunities in this exciting sector and expects to have additional developments to report in the weeks to come.

Lexaria Corp continues to own valuable oil and gas assets at Belmont Lake, Mississippi that produce monthly revenue, and will seek to maximize the value of those assets through all means possible in the months ahead. The Belmont Lake oilfield remains an important cash flow-generating asset.

As of October 31, 2013, the most recent independent reserve report prepared by Veazey & Associates, LLC estimated all future cash flows due to Lexaria from Belmont Lake at $5,985,869 (NET, Discounted at 10% per annum) for Proved Reserves; and an additional $805,399 (NET, Discounted at 10% per annum) for Possible Undeveloped Reserves.