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Remember, He never promised you a rose garden.
January Presentation is on Lexy's website.
Lexaria closes $11.04-million (U.S.) offering
2021-01-15 06:54 ET - News Release
An anonymous director reports
LEXARIA BIOSCIENCE CORP. ANNOUNCES CLOSING OF $11 MILLION PUBLIC OFFERING WITH FULL EXERCISE OF UNDERWRITER OPTION TO PURCHASE ADDITIONAL SHARES AND WARRANTS
Lexaria Bioscience Corp. has closed its previously announced underwritten public offering of 1,828,571 units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock at a public offering price of $5.25 per unit (all prices are in U.S. dollars). The warrants have an exercise price of $6.58 per share, are immediately exercisable and will expire five years following the date of issuance. In connection with the offering, the underwriter exercised in full its option to purchase an additional 274,285 shares of common stock and additional warrants to purchase 274,285 shares of common stock. The gross proceeds from the offering were approximately $11.04-million, before deducting underwriting discounts and estimated offering expenses. No securities were offered or sold in Canada, including through the Canadian Securities Exchange or any other trading market in Canada.
H.C. Wainwright & Co. acted as the sole bookrunning manager for the offering and is a non-related party to the company.
In connection with the offering, the company's common stock and warrants began trading on the Nasdaq Capital Market on Jan. 12, 2021, under the symbols LEXX and LEXXW, respectively.
All share numbers and pricing information in this press release reflect the company's previously announced one-for-30 reverse stock split of its common stock, which was effective at 4:30 p.m., Eastern Time, on Jan. 11, 2021.
The company agreed to pay Wainwright an underwriting discount equal to 8 per cent of the gross proceeds of the offering and a management fee equal to 1 per cent of the gross proceeds of the offering, and to reimburse Wainwright for a non-accountable expense allowance of $50,000, up to $100,000 in legal fees and up to $12,900 for clearing expenses. Additionally, as partial compensation for Wainwright's services as underwriter in the offering, the company also issued to Wainwright five-year warrants to purchase 166,781 shares of common stock with an exercise price of $6.58 per share.
The securities described above were offered by the company pursuant to a registration statement on Form S-1 (file No. 333-250326) that was previously filed with the U.S. Securities and Exchange Commission and declared effective on Jan. 11, 2021, and an additional registration statement on Form S-1 filed pursuant to Rule 462(b) (file No. 333-252031), which became automatically effective on Jan. 11, 2021. This offering was made only by means of a prospectus. A final prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus relating to the offering may be obtained for free by visiting the SEC's website or by contacting H.C. Wainwright & Co. LLC, 430 Park Ave., third floor, New York, N.Y., 10022, by e-mail at placements@hcwco.com or by telephone at 646-975-6996.
Pursuant to certain tail rights held by Bradley Woods & Co. Ltd., further to the company's May, 2020, private placement financing, the company is paying Bradley Woods $316,999.62 and issuing to Bradley Woods or its designees five-year warrants to purchase 60,385 shares of common stock at an exercise price of $6.58 per share.
bout Lexaria Bioscience Corp.
Lexaria Bioscience's proprietary drug delivery technology, DehydraTech, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets and capsules. DehydraTech has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to five to 10 times, reduce time of onset from one to two hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTech to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 patents pending worldwide.
And don't forget. https://1906newhighs.com/
A lot of the servings are being bought by https://cannadipscbd.com/
You're the one claiming criminal conduct. Are you serious? Back up your accusation!
If you want to call Chris Bunka 'a fraud and a chancer' I guess that's your opinion, but it's certainly not a 'popular' opinion as you suggest.
I believe him to be honest and straightforward. He hasn't always met his goals but he admits that.
Please provide one instance where you believe he has acted fraudulently.
Good point.
The volume in New York has definitely been higher (adjusted for the split) since the uplisting.
Buyers accumulating BEER through TD Bank today. Net +382,200 so far.
Infusion means that it's either administered by injection or IV drips. These are the types of drugs (anti-bodies) that Lexaria is studying to see if they can develop an oral formulation.
https://www.cnn.com/2021/01/21/health/covid-19-monoclonal-antibody-treatment-neglected/index.html
Of course, it would be a lot easier if you had an oral solution.
So H.C. Wainwright sold a whack of shares to the mutual fund and then they must of sold a lot of the remaining shares from the financing into the market to account for the unusually high volume we had. JMHO
You're confused about us being confused!
It's like you've just figured out how the market works and you're trying to explain it to a group of grade-schoolers. LOL
H.C. can sell the shares to anyone? Who woulda thunk?
27,510 in old shares
Mr. Chris Bunka reports
LEXARIA APPOINTS NEW BOARD MEMBER
Lexaria Bioscience Corp. has appointed Al Reese Jr. to its board of directors.
Mr. Reese has over 40 years experience in public and private businesses including as chief financial officer of a formerly Nasdaq-listed energy company where he arranged finance transactions totalling over $10-billion dollars during his 20-year tenure. Mr. Reese was a director and chairman of the audit committee of a community bank in Texas for 10 years until such time as it was acquired by a larger banking group in 2018.
Mr. Reese is a certified public accountant (1974), and received his Bachelor of business administration degree from Texas A&M University in 1971 and his MBA from University of Houston in 1977. He has extensive experience at a senior level in financial services, finance transactions, investor relations and more.
"It is a real privilege to join the team at Lexaria," comments Mr. Reese. "I've been familiar with Lexaria since inception and have seen this team's determination to develop and commercialize the DehydraTECH technology. With the recent capital raise, Lexaria now has sufficient capital to conduct the studies and programs to continue to find new and expanded applications of DehydraTECH and other Lexaria opportunities. With the new capital and the right amount of capital discipline, Lexaria should have an excellent future. It is an honour to be part of it."
"We are delighted to welcome Al Reese to our board of directors, where he will add considerable financial industry and public company expertise," said Chris Bunka, chief executive officer and chairman of the board. "Al is also experienced in negotiating technology license agreements with companies in the U.S. and internationally, and the board of directors looks forward to his guidance as Lexaria continues to evolve and pursue its strategic outlicensing business model."
Separately, pursuant to Lexaria's press release issued June 18, 2020, it has been informed by the NIH that members of its Scientific Review Group for its National Institute of Allergy and Infectious Diseases' financing opportunity announcement RFA-AI-20-028 -- Partnerships for Countermeasures against Select Pathogens, have met to consider the applications they received at which time Lexaria's application was not discussed or scored. As such, it is not likely that Lexaria's application will be financed relative to other applications they prioritized, although no definitive decision has yet been provided to Lexaria.
Many research grant applications do not receive financing because applications almost always greatly exceed available budgets, thus grants of this type generally enjoy roughly a 20-per-cent success rate. As this grant application was an external add-on to Lexaria's primary 2021 research objectives, it will have no effect on the company's core planned research and development objectives, which are all fully financed.
About Lexaria Bioscience Corp.
Lexaria Bioscience's proprietary drug delivery technology, DehydraTECH, improves the way active pharmaceutical ingredients enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to five to 10 times, reduce time of onset from one to two hours to minutes, and mask unwanted tastes, and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs and nicotine. Lexaria has licensed DehydraTECH to multiple companies, including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 patents pending worldwide.
We seek Safe Harbor.
Some hair salons have better revenue than us. Sad!
Pitiful revenue numbers!
If Chris had anything like that he would have got it out just before uplisting not right after. I don't expect much from the financials either for the same reason.
I wonder what the short position is now? We've had a massive volume since uplisting are some people piling on a large short position? Selling short.
Never mind that, I'm going door-to-door looking for new investors! LOL
If there's no hold period on the warrants is it possible they were exercised today and that would account for the high volume? It seems strange that there is no hold period.
Give the prices in Canada and the US a day to stabilize.
It Will be interesting to see if the sales of CBD have taken off exponentially like they were hinting they were.
Speaking of financials, where are they? Lexaria must have had to file the latest audited financials to get an uplisting.
I think that one entity will be picking up most of the offering to take a 10% interest in Lexaria. Just my guess.
Who woulda thought huh?
Wow isn't that misleading! We're developing a covid vaccine???
Immediately following the acceptance of the RS the uplisting takes place. The RS split after-all is a necessary prerequisite for uplisting there's not some kind of conspiracy taking place and nobody has misled you.
Terry Donnelly Interview
And neither do you or I for that matter. It's all just speculation.
It's pretty clear to me that George Soros is controlling the price of Lexaria through 5G signals and also Bill Gates is investigating whether DehydraTECH can be used to get his vaccine tracking chip into the bloodstream without injection.
No, they're a co-packer for Hill Street.
CIBC is an eager buyer in Canada, they've bought net 105,500 so far.