Lexaria Bioscience Corp (LEXX)

[Screech691]

Municipal Approval for Lexaria-Enertopia Joint Venture in Burlington, Ontario

Jul 14, 2014 (Newsfile Corp via COMTEX) -- Lexaria Corp. (OTCQB: LXRP) (CSE: LXX) (the "Company" or "Lexaria") is pleased to announce that the production of Medical Marihuana in compliance with Health Canada MMPR regulations has received final Municipal zoning approval for the Lexaria/Enertopia joint venture. Previously announced only as being located in the Greater Toronto Area, now that Municipal approval has been obtained Lexaria is happy to announce the facility location as Burlington, Ontario.

The evaluation procedures of the City of Burlington were followed, including presentations made to city officials and opportunities for public feedback and input. Lexaria is pleased that the City of Burlington showed community leadership and vision in implementing a thoughtful series of rules for the cultivation of medical marijuana in accordance with Federal Health Canada regulations.

"Approval by the City of Burlington for a medical marijuana production facility is an important step in the journey towards our goal of obtaining a license under Health Canada's MMPR program and becoming a leader in the industry," said Chris Bunka, CEO of Lexaria Corp.

Now that the City of Burlington has passed a bylaw permitting medical marijuana production facilities, Lexaria expects that the joint venture license application to Health Canada will be submitted soon.

The bylaw approving the medical marijuana facility zoning was passed by Burlington officials on June 9th, and the period of time when appeals were allowed to be heard expired on July 9, 2014. Notice of passing of the Bylaw was provided on July 10, and at this time the bylaw is in existence.

The Lexaria/Enertopia joint venture, as previously reported, is for a building of approx 30,000 sq ft for first phase design, with a right of first refusal obtained for approx another 45,000 sq ft. Since the original announcement of this facility on April 10, 2014, a great deal of progress has been made regarding the state of the art design concepts expected to be implemented.

The joint venture has engaged David Hyde & Associates for security design and implementation. David Hyde & Associates is a full service security management and business risk consulting and training practice that offers independent, high quality advisory services underpinned by real-world security and risk management experience. David Hyde & Associates, widely acknowledged as one of Canada's leading security experts, has previously been a security consultant to another existing company that has already received their license under the MMPR program.

The joint venture has also engaged KNY Architects Inc, a design and planning firm headquartered in Burlington that has been in business for over 55 years. They have completed hundreds of projects across Canada, USA, and the Ukraine.

A total of 880,000 restricted common shares will be issued to a number of persons in accordance with previously entered agreements, upon reaching the municipal approval milestone. The securities issued will be subject to a hold period in Canada of four months and one day, or for any resales possible into the USA under Rule 144, six months and one day.

The securities referred to herein will not be or have not been 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 registration requirements.

Separately, Lexaria has accepted the resignation of Chris Hornung as Assistant Operations Manager.

About Lexaria

Lexaria's shares are quoted in the USA with symbol LXRP and in Canada with symbol LXX. The company searches for projects that could provide potential above-market returns.

To learn more about Lexaria Corp. visit www.lexariaenergy.com.

FOR FURTHER INFORMATION PLEASE CONTACT: Lexaria Corp. Chris Bunka, CEO: [phone] Clark Kent, Media Inquiries: [phone]

FORWARD-LOOKING STATEMENTS