Lexaria raises US$1M from Warrant ExerciseMay 19, 2017
OTC Disclosure & News Service
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Lexaria raises US$1M from Warrant Exercise
KELOWNA, BC--(Marketwired - May 19, 2017) - Lexaria Bioscience Corp (OTCQB: LXRP) (CSE: LXX) (the "Company" or "Lexaria") announces it has received US$970,230.05 from the exercise of warrants previously granted. The stock warrants, which otherwise expired on May 15 2017, were exercised at the price of US$0.2273, for a total of 4,268,500 common shares being issued. All warrants are being exercised by third parties who are neither officers nor directors of the Company.
"Lexaria's balance sheet is now the strongest it has ever been," commented Chris Bunka, CEO. "We have raised over US$3 million in the past six months, which fully funds the Company's business plans until 2019. We are now focussed on developing our patent portfolio and continuing our work with prospective licensees and resellers."
Following issuance of these common shares, Lexaria will have 66,506,009 common shares issued and outstanding. No commissions or placement fees have been paid related to the funds received from this warrant exercise. Proceeds will be used for general corporate purposes. Lexaria extends its thanks to its loyal shareholders for their continued support.
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.
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
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