Lexaria Bioscience Corp (LEXX)

[SBZRUS]

Lexaria Intends to Complete an Equity Financing of US$300,000

Kelowna, BC / TheNewswire / July 5, 2016 - Lexaria Bioscience Corp. (otcqb:LXRP) (cse:LXX) (the "Company" or "Lexaria") reports its intention to complete a non-brokered private placement financing of 5,000,000 equity units priced at US$0.06 (approx. CDN $0.078); each equity unit consisting of one common share of the Company and one non-transferable share purchase warrant, each whole warrant entitling the holder to purchase one additional common share of the Company for a period of two years from the date of issuance, at a purchase price of US$0.14; in order to raise gross proceeds of up to US $300,000 (the "Private Placement").

All funds raised of up to US$300,000 will be used to continue deployment and marketing of hemp based food products, for investor relations, for research and development including addition in vitro work, and for G&A and general working capital.