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i was reading that the suggested dosages for CBD are useless, over at this page...
http://how-much-cbd-should-i-take.com/
Do we know how much CBD is actually in each tablet? There's a ton of pages out there that discuss CBD oil vs Hemp oil... the latter sometimes only having trace amounts of CBD.
I want buyers to notice, rather than wonder like you did.
has anyone ordered the TurboCBD capsules? Canadians are shut out for moment.
http://www.cannabisfn.com/turbocbd-achieve-10x-absorption-focus-memory-stress-relief
https://m-power.clickfunnels.com/turbo-cbd
I was curious about who the next player(s) in line for the cashing of warrants are...
http://thecse.com/sites/default/files/2016_04_15_form_9_-_private_placement_2nd_tranche.pdf
As of February 28th 629,375 warrants were outstanding at .15 and expiring on September 15, 2017. According to the monthly CSE reports, the warrants/options that were exercised in Mar/Apr/May were not the .15 ones.
They seem to belong to Keith Spinelli, who was holding a bunch of shares in early 2016. I'm not too sure if he's helping to crater the current price, but he's probably the safest bet.
And apologies to Keith if that corporate link is not him... just what google gave me and it seems to fit.
I was waiting for that new number. I'm going with a bet on it being this outfit that is short. Could be completely off, but the numbers work for me...
The short number exploded from nothing to about 450k at the start of March when the financing was announced and increased steadily to this point and then stopped.
If it is them, then they are probably done and the short count is actually close to zero just waiting for the shares to be released... and then they can play their free warrants at that time.
from Canadian Insider...
On a side note, the most recent option grant with outstanding options list...
Form 11
just compensation for services. about 35k shares at .34US
I'm seeing an MJ bloodbath everywhere today. Everyone is glued to the CBW soap opera and contagion concern.
This one has been stable in comparison, so no complaints.
Some lite news from this morning to fill the time... Lexaria Appoints New Acting CFO
Looks like they are not taking chances on their next trademark app.
The previous flower swirl (anyone have a better description?) with words "Comfort" and "Harmony" failed to pass the trademark hurdles.
Now they have the colorful fibonacci pattern (trying!) with words "Lexaria Bioscience" above "Perform" and "Recover"...
Drawing
need to break the 50 ma at 38. Hopefully by end of week.
I think a nice squeeze is shaping up (hopefully) for a few reasons.
Bunka and Docherty let 330k warrants expire. You can speculate on why, but I'm going with "fuck the shorts, we have enough cash in the till and are not going to crash our own holdings and price further just to snag a few more shares." Kudos to them.
May 23/17 May 23/17 Bunka, Christopher Indirect Ownership Warrants 55 - Expiration of warrants -187,000 $0.230
May 18/17 May 15/17 Docherty, John Martin Indirect Ownership Warrants 55 - Expiration of warrants -143,000
The only guy the shorters have left to rely on is Adam Mogil and he's probably on the Canadian side (explaing why the short shifted there once the May 15th warrants period elapsed) and not an institution that would play on a minute-to-minute basis. Adam had up to 500k warrants at .31US, chances are he wasn't already a shareholder and the current price and volume is not worth the conversion headache, seeing as the bid is basically at the exercise price.
Maybe Adam converts and doesn't care about selling into the market. Maybe more warrants expire.
Gotta wait a few more days to see.
Short report is out.
As of May 15th, there were 926,100 shares short on the OTC (a drop of 5,317). Another 264,500 shares short on the CSE (an increase of 259,000).
Total equity short position was 1,190,600.
How about news NOT converting warrants to cash? lol
Am I reading this correctly? Form 4 - John Docherty
I think John let his warrants expire. I'm wondering if Chris did same or not. The shorts would not be impressed by such ungreedy manipulation! :P
would love to see that. :)
The short report on the Canadian side is out. As of May 15th, there were 264,500 shares short. Price was driven down from 49 to a low of 40 during the period.
Using the last 3 days of low volume, that's about 5 days plus to cover.
Anyone know who Adam Mogil is?
Trying to play connect-the-dots while waiting for his warrants to get exercised or expire.
Next ones in play are the 500,000 warrants given to Adam Mogil for consulting services 6 months ago... Form 9 dated November 1, 2016
The warrants expire on May 31, 2017 (unusually short window) and the current price is pretty much not giving him any profit if he hasn't exercised them yet.
Curiously, Lexaria's former JV partner Enertopia made the same sort of warrants-for-services deal with him in February... Form-8k exhibits
My understanding was that the two companies have nothing more to do with each other. Does Adam link them or is it just koinky-dink?
TurboTHC trademark hurdle...
http://tsdr.uspto.gov/documentviewer?caseId=sn87256120&docId=OOA20170424141049#docIndex=1&page=1e
Looks like the federal Controlled Substances Act won't allow such a trademark. Maybe will need some novel legal arguments if they still want to pursue it.
I'm the opposite. I already hold a ton on the Canadian side (you're safe - I'll go down with the ship), so only buying there if I can catch a greater daily dip than on the US side. The US side is the one with the shorting pressure. Canadian side follows. Actually in the last short report, the 250k or so shares that had been short on the Canadian side were all covered.
I've been nibbling each day on the US side, including this morning at .285. Those warrants are from 2 years ago... right now you're looking at a 30% premium. If you think it will keep getting squeezed til tomorrow, wait it out.
Here's the list of possible players you're up against (the form is confusing with both a .25US and .20US figure (the financials had it at just under .23US)...
http://thecse.com/sites/default/files/filings/2015_06_08_12_41_55_LXX_Form_9_-_Issuance_of_Securities.pdf
I'd like to believe that most of them are long and can find the funds elsewhere instead of shorting into the market.
news release. NSAID research and another warrants update.
Lexaria Announces Research on Nonsteroidal Anti-Inflammatory Drugs
some reading to hold you over until next week...
5 Things to Look for When Trading a Warrant Expiration
Posted on December 7, 2013 by Steven Adams
A stock with an expiring warrant often represents a great low risk / high probability buying opportunity. A typical pattern for a stock with an expiring warrant is a drop in price as the warrant expiration nears and then a rebound, or move up, immediately after the expiration.
I’ve traded a large number of these expirations over the years and, in the vast majority, there is an increase in the price of the common stock once the warrant expires.
The warrant expiration puts pressure on the stock because of the arbitrage that is taking place around the warrant. Large institutions are generally buying the warrant and shorting the stock into the expiration. They then cover their short position with the common shares received from exercising the warrants.
As pressure from short selling abates after the warrant expires, the common stock generally moves to the upside. Think of it as holding a beach ball under water. When you let go of the ball, it “pops” out of the water. Generally a stock has this same reaction immediately after being “let go” by the short sellers/arbitrageurs.
While this is the general pattern, there are five ways you can greatly increase your chances of buying a stock that will “pop” after the warrant expiration. If your stock meets these five criteria, even if there is no pop, it is very unlikely will sink any further short term. You can sell the position flat (neither losing nor making money) or, at worse, for a very small loss.
Review Performance of Other Stocks in the Sector
One of the best indicators of how a stock will perform post-warrant expiration is how other stocks in the same sector have been performing in recent months. The expiring warrant will generally hold down the price of the common stock, resulting in a distorted price as compared to the other stocks in the sector.
If other stocks in the sector are up 20% and the stock with the expiring warrant is only up 5%, this is a great indicator that the stock may jump immediately following the warrant expiration. I’ve seen many stocks move up 5-20% in just a few days after a warrant expiration when they have been trailing the performance of their peers in their sector.
This one criteria alone can be a very powerful indicator of whether or not a stock will pop after a warrant expiration. While I definitely use the other indicators, if I had to weight the indicators by importance, this one would be heavily weighted versus the others.
Ideally the Common is Near the Strike Price of the Warrant
The closer the price of the common comes to the strike price of the warrant, the better the likelihood of a pop post expiration. In order to get additional funds for a company in an IPO, most warrants (though definitely not all) are issued when a company goes public as a sweetener for investors.
Many have a provision that states “if the price of the common stock exceeds $X for a period of Y months, the company has the right to call the warrants.” (Don’t worry, we won’t be doing series of equations here, #algebraflashback.) In these situations, when a stock exceeds the preset price and the warrants are called, the stock has performed better than the company (or the underwriters) expected.
It has often exceeded price targets the company assumed the common stock would not quickly meet. This is great news for the company on two fronts. First, their stock is rising more rapidly than expected, and, second, by calling the warrants, they will get yet another infusion of cash.
From a practical perspective, the underlying common stock has usually built up some nice momentum and is moving up at a good clip. The warrant call by the company has the effect of slamming on the brakes. From the time the warrants are called, the closer the price comes to the warrant strike price the better, much like pushing that beach ball to the perfect underwater depth for a pop.
Let’s throw in a few numbers to illustrate. If the warrant has a strike price of $5 (one warrant plus $5 gets you a share of common), and the stock has moved from $3 at the IPO to $7, ideally the stock price, after the warrants are called, will move back toward $5. This gives you a chance to buy a stock that was trading at $7 a short time before for around $5.
Often the stock will resume its momentum move, as the warrant call was the only reason the stock paused originally.
This is a good spot to make a point on buying common stock near a warrant expiration. HAVE SOME PATIENCE! Often the stock will immediately drop when a warrant call is announced, or it will begin declining a few months before a planned expiration.
While you can trade around the stock the final month(s) before expiration, I’ve found the best time to establish a position, to benefit from a post-expiration pop, is a day or two prior to the actual expiration date.
Stocks with an expiring warrant generally drop in the final week before expiration, and that is the time to get the best price for a subsequent pop. Some of the best trades I’ve seen have come after getting long either the day before the warrant expires or the actual day of expiration.
Look for Large Volume Into the Expiration
An unusually large amount of volume around the expiration indicates institutions are buying warrants and selling common stock short. This is exactly the feeding frenzy you want to see as the expiration nears.
These institutions will enter an arbitrage position for very small amounts of profit, but, on a large number of shares, the profit adds-up. While making a penny on 1,000 shares is nothing to write home about, making a penny on 5,000,000 shares is perfectly acceptable.
In addition to making a small profit on the arbitrage, the arbitrageur has set himself up to make a very large profit in a very short time if the stock falls apart. Not only is there potential for a large profit, this bet can be entered at almost no cost (other than the cost of tying up capital for a short and well-defined time period) to the arbitrageur.
If, for some reason, the stock drops to $4, and the long position in the warrants goes to $0, there will be a loss on the warrant, but the short common position will more than make up for the loss. If the short was placed at $5 the result is not $.01 on 5,000,000 shares, but $1 on 5,000,000 short shares (I’ll let you do the math on that one, but let’s agree it’ll pay for a nice night out with your spouse;)
So, what does the fact that big money may be playing in a warrant expiration have to do with buying the common stock around the expiration? It’s actually fairly simple: the big money is distorting the market for the common stock.
By arbing the stock against the warrant, the arbitrageurs have distorted the market pricing mechanism. Shorting the stock, and buying the warrant, drives the price of the common down over a short time period around the warrant expiration. As the distortion in the market is removed, the stock generally rises back to a price level it would have attained absent the distortion.
In our case, the larger the distortion, which we can measure by looking at unusually large volume, the greater the probability the stock will return to a higher level.
Look at the Stock Ranking in IBD or a Similar Service
Buying a common stock near a warrant expiration is based on a general technical pattern produced by a combination of arbitrage and a high probability of a return to the mean for the underlying common stock. The trade is largely based on technical factors. Having said that, even when trading on technical factors, I prefer to have at least a basic understanding of the company fundamentals underlying the common stock.
An easy way to do this is to check the IBD rank for the common stock against other stocks in its sector. This will give a overall picture of the stock, and can be quite telling, especially if the sector in general has been moving up.
The best scenario, which I have seen only a few times, is to have the stock be the number one rated stock in a sector. A warrant expiration holding back the best stock in a sector, when the sector has been rising, can lead to an explosive move to the upside.
If you do not subscribe to IBD, you can simply look at a few of the more common measurements of a stocks fundamental performance such as P/E ratio, cash flow, rising / falling earnings, or whatever the prevalent measurement may be for that sector. For me, the fundamentals are probably best described as “the icing on the cake.”
If the other indicators tell me there is a 70% chance (that number is completely made up, but I want to slap a number on it for illustration) that the stock will pop post-expiration. And, the fundamentals are very good, then that moves the 70% to 90%. If the fundamentals are so-so there’s still a 70% chance of a pop, and that’s still a very high probability for a money making opportunity.
Fundamentals can also help when sizing your position. As with any trade, the size of the position taken is an important factor. A stock with strong fundamentals, and an expiring warrant, may indicate both a larger position should be taken and that the position should be given more leeway from a timing perspective (how long you hold the position before selling).
Look for a Single Holder of a Large Block of Warrants
Finally, look for any announcement from a holder of a large number of warrants as to whether they will be exercising their warrants and then holding their position in the common. As we mentioned earlier, warrants can be a sweetener to entice certain investors to take a position in a stock at an early stage. There may be an investor who holds a substantial number of warrants.
If there is a large investor that has announced she will be exercising warrants and not selling her common stock, this is obviously a positive for the common. It is not always the case, as often warrant investors will simply sell their shares as they rise in price along with the common, but it is a final factor to examine.
In some situations a Venture Capital firm, or VC, will have a large position in the stock or warrants. If the VC is using the warrant expiration to reduce their percentage ownership in the company, this will put additional pressure on the common and is a negative for getting long the common post warrant expiration.
Putting it All Together
In its simplest terms, a warrant expiration provides a catalyst for a stock. The expiration is a clearly defined point in time from which stocks historically have a high probability of moving up. This is an excellent setup for a low risk, high return trade.
Unfortunately, warrants don’t expire every day, so this high probability trade is opportunistic and episodic. Warrant expirations and warrant calls must be tracked, and for most traders and investors who follow a trading or investing system, trading warrant expirations falls outside of both their system and their expertise.
But that doesn’t have to be the case. For the vigilant and informed (that’s you, now that you’ve read this LONG post), there are opportunities to capture large returns with minimal risk. This starts with setting up a list of warrants to track.
Once you have a list in place its relatively simple to follow which warrants will expire when and then apply the five criteria listed above. If you’re in a jam and can’t quite figure out how the criteria apply or whether an expiring warrant looks like a good opportunity for a trade, shoot me an email. Happy to talk warrant trading anytime!
As always, good luck in your trading!
After I posted I figured I should check the accuracy of the numbers.
It's 23 and 18 and could be close to 4M of them left...
Form-5 Quarterly Listing Statement
this is all a warrant bleed.
If you look at the last financials ended February 28th, and subtract the warrants exercised in March and April, there were about 3M warrants still not cashed in as of the beginning of May... expiring May 14th. A minor amount expires at the end of May.
The shorters see it. Some stock blackmail of sorts. Those warrants are at 14 and 22US, so why pay them more if they have to get rid of them?
I've been buying the whole way down, just to not miss out on the cheapies. Lost a ton of cash off the highs, but it's just paper numbers.
Turn the computer off until next week.
some news videos from the conference, with a few glimpses of the Lexaria booth and products in the background...
three shots throughout video of booth and Chris, behind senator Folmer interview
0:05 and 1:23 mark shows booth with John and Chris
ViPova teas and the TurboCBD hemp oil capsules are shown at the 0:48 mark (so pretty to see!), booth at 1:03 mark
I'm sure there will be more available, but I'm off to focus on a beach in Cuba for the next couple weeks. Hoping this thing pops in the interim.
Np. Not sure if you all read the article and caught this quote...
"The state health department is regulating the program, which forbids smoking marijuana in dry leaf form. Medical marijuana in Pennsylvania will be available in pills, oils, tinctures or ointments."
That floored me. I think that makes Lexaria the big dog in the state (pop. 13M), holding a very relevant patent and tech.
Are there other mj states with the same sort of rules?
the World Medical Cannabis Conference & Expo in Pittsburgh is on today and tomorrow.
More than 3,000 expected at medical marijuana conference in Pittsburgh
According to the Conference Agenda Chris Bunka is on two panels tomorrow and then finishes up with a 1-hour private session for Lexaria.
-------
11:00am-12:00pm
Topicals, Tinctures, Capsules, Edibles
Room #333 - 3rd floor
Pros & Cons Compared to Flower / Innovation in this Area / Quality Control
As more states across the U.S. legalize cannabis, consumers are discovering
new, healthier ways to consume and ingest their medicine. However,
many patients do not know which method is best for them as they are still
accustomed to only consuming their cannabis by smoking flower through a
pipe or joint. Patients are asking what are the pros and cons compared to
flower and how using topicals, tinctures, capsules, and edibles can help them
achieve the desired results they want from the plant. This panel will answer
all those questions, as well as look into how we can have safe products with
consistent quality control as well as what is next in terms of innovation for
cannabis infused products.
Speakers: Chris Bunka, Eben Britton, Michael Thue, Scott Leshman
-------
2:00pm-3:00pm
Canada, Impact & Opportunities
Room #334 - 3rd floor
Operating in Canada / What US Businesses & Investors Need to Know /
Influence of a Strong Canadian Marketing on US Policy & Market
Canada has been one of the pioneers in regards to cannabis and now there are
pushes to legalize cannabis recreationaly nationwide. How do entrepreneurs in
the U.S. tap into this potentially enormous market? Also, how will businesses in
the US be affected if Canada decides to legalize recreational cannabis and how
could this legalization affect the legalization efforts in the U.S.?
Speakers: Brian MacKay, Eric Paul, Chris Bunka, Kate Dalgeish
-------
3:00pm-4:00pm
Lexaria Private Session
Room #325 - 3rd floor
Speakers: Chris Bunka
a small piece on LXRP popped up on google finance news...
Lexaria Bioscience Corp (OTCMKTS: LXRP) Poised For Continued Gains
fluffish news release this morning...
Lexaria Welcomes Canada's Proposed Cannabis Legislation
KELOWNA, BC--(Marketwired - April 18, 2017) - Lexaria Bioscience Corp (OTCQB: LXRP) (CSE: LXX) (the "Company", "Lexaria") welcomes the newly proposed Canadian legislation designed to allow for adult legal access to Cannabis (the "Cannabis Act"). In line with the Cannabis Act's objective to protect public health and public safety, powerful demographic and lifestyle forces are trending away from both the harmful effects related to inhalational dosing (smoking/vaping) and from edibles with high sugar & fat content.
The Cannabis Act provides the opportunity for Canada to craft the safest and most responsible cannabis production and consumption framework in the world, especially with respect to consistent and reliable dosing formats that technology such as Lexaria's enables in modern edible formats. The Cannabis Act prohibits second hand smoke and second hand vapours from inhaled cannabis use, consistent with existing federal legislation that prohibits second hand cigarette smoke. It is also in everyone's best interest to support the consumer shift away from the high sugar, high fat, inconsistent and unpredictable effectiveness and onset-times associated with edible product formats endemic in other adult-use cannabis markets.
Lexaria's patented technology -- currently subject to collaborative examination together with Canada's National Research Council -- is strongly supportive of macro trends by embracing edible cannabis formats with zero added sugar, and lower micro-dosage unit sizes. Micro dosing of 10mg and even as little as 5mg of THC is rapidly gaining popularity in other legal cannabis jurisdictions that mandate micro dosing edible formats as a more responsible way of consuming cannabis, without creating issues of second hand smoke or second hand vapour for non-consumers. Micro dosing tends to lead to lower overall levels of consumption with reduced likelihood of overconsumption.
"Modern technology allows for safer, more consistent and less obtrusive methods of cannabis use than ever before," says Chris Bunka, CEO of Lexaria. "We have a once in a lifetime opportunity to support consumer health trends in the cannabis world through advanced delivery techniques unlike anything available even five years ago. I hope to see Canada lead the world in embracing public health in the cannabis sector."
While utilizing Lexaria's technology, both in vitro and human biomarker studies point to significantly higher cannabinoid absorption and quicker & and more consistent onset of effects than can be achieved with conventional edible preparations. Further consumer focus studies conducted by Lexaria licensees have reported a more pleasurable, faster acting and predictable experience.
Through a patented process that combines cannabinoids with natural delivery enhancers at a molecular level, Lexaria's technology is believed to alter the absorption pathway of cannabinoids within the human body (designed to bypass first-pass liver filtration when desired for more rapid onset of effectiveness). More efficient and effective absorption of cannabinoids has been shown, while simultaneously masking and even eliminating inherent strong flavours and odors typical of cannabis extracts, avoiding the need for added sugar and fat. Lexaria's technology was conceived to allow for the creation of edible product formats that mirror as closely as possible the potency and onset of effectiveness associated with inhalational dosing without its unwanted effects. Lexaria is thrilled to have the opportunity to lead advancements in bio-availability and speed & predictability of onset for health-conscious consumers.
About Lexaria
Lexaria Bioscience Corp. is a food biosciences company with a proprietary technology for improved delivery of bioactive compounds. The Company's lipophilic enhancement technology has been shown to enhance the bioavailability of orally ingested cannabinoids, while also masking taste. This technology promotes healthy ingestion methods, lower overall dosing and higher effectiveness in active molecule delivery. The Company's technology is patent-protected for cannabidiol (CBD) and all other non-psychoactive cannabinoids, and patent-pending for Tetrahydrocannabinol (THC), other psychoactive cannabinoids, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.
www.lexariabioscience.com
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, the patent application and approval process and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that existing capital is sufficient for the Company's needs or that it will be able to raise additional capital. There is no assurance that Lexaria will successfully complete any other contemplated or existing technology license agreements, nor that Lexaria's technology will deliver any improvement in taste or bioavailability with any reliability nor across any product category. There is no assurance that any planned corporate activity, business venture, or initiative will be pursued, or if pursued, will be successful. There is no assurance that any hemp oil or cannabinoid-based product will promote, assist, or maintain any beneficial human health conditions whatsoever, nor that any patent application in the USA or any other nation or under any treaty will result in the award of an actual patent; nor that an award of any actual patent will protect against challenges from unknown third parties. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA)or by Health Canada. Lexaria products are not intended to diagnose, treat, cure or prevent any disease.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Bioscience Corp.
Chris Bunka
Chairman & CEO
(250) 765-6424
People always read shorts the wrong way, so I'll wait to see what the figure on the 15th is to get a better read on it.
Based on basic financials this stock has always been seen as an overvalued short play for some people. It's just two sides of a black/red bet. They were playing the same game when the stock was priced in the teens and twenties.
Is there a potential that the people in the PP are the same ones shorting? There would be no risk to them as they can just replace the shares once they are out of lockup. In this scenario, I can't see the count going up too much higher because there weren't that many PP shares subscribed for from the various funds.
So who knows or cares for now. If the short count goes up, I hope they eventually burn. If they succeed in driving the price down further, kudos for helping me accumulate at a lower price. :D
Not possible yet without a minimum $75M market cap and $250k average daily trading (CAN).
I'm in then. :)
$20.00US to your $2,000.00US.
Deal? (directed at Jay)
News is out...
http://www.marketwired.com/press-release/lexaria-bioscience-closes-brokered-private-placement-otcqb-lxrp-2207339.htm
April 03, 2017 15:24 ET
Lexaria Bioscience Closes Brokered Private Placement
KELOWNA, BC--(Marketwired - April 03, 2017) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Lexaria Bioscience Corp. (OTCQB: LXRP) (CSE: LXX) (the "Company" or "Lexaria") is pleased to announce that it has completed its previously announced brokered private placement of 4,104,280 units of the Company ("Units") at a price per Unit of US$0.42 (the "Offering Price"), for total gross proceeds of US$1,723,798 (the "Offering").
Each Unit consists of one common share of the Company (a "Share") and one-half of one Share purchase warrant (each whole Share purchase warrant, a "Warrant"). Each Warrant shall entitle the holder to acquire one Share at a price of US$0.60 per Share for a period of 24 months following the closing of the Offering.
The Offering was led by Eight Capital, on behalf of a syndicate of agents including Haywood Securities Inc. and Echelon Wealth Partners (collectively, the "Agents"). Borden Ladner Gervais LLP acted as Agents' counsel with respect to the Offering.
The net proceeds of the Offering will be used to fund the Company's research collaboration with National Research Council Canada; other Lexaria-developed R&D related to the delivery and bioavailability of cannabis, vitamins, NSAIDs and nicotine; and working capital and general corporate purposes.
"We are elated to have achieved our goals with respect to this financing since, for the first time ever, Lexaria now has sufficient capital to operate and strategically plan for beyond a one-year period," said Chris Bunka, CEO. "We expect to achieve significant advancement in all aspects of our business in 2017 and 2018 and will provide additional information regarding our plans in the weeks to come."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
About Lexaria
Lexaria Bioscience Corp. is a food biosciences company with a proprietary technology for improved delivery of bioactive compounds. The Company's lipophilic enhancement technology has been shown to enhance the bioavailability of orally ingested cannabinoids, while also improving taste. This technology promotes healthy ingestion methods, lower overall dosing and higher effectiveness in active molecule delivery. The Company's technology is patent-protected for cannabidiol (CBD) and all other non-psychoactive cannabinoids, and patent-pending for Tetrahydrocannabinol (THC), other psychoactive cannabinoids, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.
www.lexariabioscience.com
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, the patent application and approval process and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that existing capital is sufficient for the Company's needs or that it will be able to raise additional capital. There is no assurance that any planned corporate activity, business venture, or initiative will be pursued, or if pursued, will be successful. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria Energy Foods and ViPova™ products are not intended to diagnose, treat, cure or prevent any disease.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Lexaria Bioscience Corp.
Chris Bunka
Chairman & CEO
(250) 765-6424
I see that an Australian firm has two of it's hedge funds in on the financing...
Regal Funds Management
Atlantic Absolute Return Fund
I couldn't find anything delving into the Zambezi Absolute Return Fund, but it looks like these guys like to play both the long and short game aggressively.
I'm banking on Canadian weed investors going crazy for companies like Neutrisci and Lexaria once regulated edibles show up in the upcoming legislation. I think everyone is just way too focused on the growing side of things.
As I mentioned previously, Lexaria presented at the Dundee conference in Calgary a couple months back. The LPs are aware of them and the financing (hopefully closed) has flowed from that event. So yes, I do think that at least some LPs are going to want to leverage the edibles patent and tech for the upcoming competition (Canadian companies have been VERY friendly to each other to this point - that will be over soon).
Read any article about 1906 "High Love" chocolate... made by Peter Barsoom's company Nuka Enterprises. They discuss the technology without ever mentioning Lexaria. I see no issue with that. They license the tech for their own product, which they get to hype to the public.
I don't go checking my Oreo cookies to see which company they source their ingredients from. That will only matter to wannabe oreo cookie knockoff makers.
Neutrisci has the pterostilbene tablet, while Lexaria has the fast acting CBD.
My understanding is that when you put them together, you have a match made in cannabis heaven.
Was checking out the upcoming conference exhibitor list...
https://www.compassionatecertificationcenters.com/sponsors-exhibitors/
Looks like Chris and John are slated speakers. They also went for the Platinum Level sponsorship. That pricing level starts at $34,000.00. Only $5,000.00 more than Gold level.
I'm giving Bunka retroactive approval on his going top shelf for us! :)