Lexaria issues 355,000 shares for IP achievements
2018-08-07 14:36 ET - News Release
Mr. Alex Blanchard reports
LEXARIA AWARDS SHARE INCENTIVE RELATED TO RECENT PATENT ACHIEVEMENTS
Lexaria Bioscience Corp. has issued a total of 355,000 restricted common shares as required by executive consulting agreements, shared by the chief executive officer and the president of the company.
The shares are required to be issued upon certain intellectual property achievements, and patent application filings in March and April triggered the awards. As a result, 172,500 shares were awarded at an issue price of $1.24 (U.S.); and 182,500 shares were awarded at an issue price of $1.32 (U.S.). Cash compensation of $185,200 (U.S.), designed to offset tax liabilities from the share award, was also granted.
Lexaria currently has about 49 patents pending or granted around the world, and has fostered an internal environment of intellectual creativity, incentivizing employees and consultants for successful patent progress. One year ago, the company had only approximately 18 patents pending or granted.
About Lexaria Bioscience Corp.
Lexaria Bioscience has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has multiple patents pending in over 40 countries around the world and has patents granted in the United States and in Australia for utilization of its DehydraTECH delivery technology. Lexaria's technology provides increases in intestinal absorption rates; more rapid delivery to the bloodstream; and important taste-masking benefits, for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.
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