Lexaria Bioscience Corp (LEXX)

[Shawking]

2019-10-21 09:22 ET - News Release


Toronto, Ontario--(Newsfile Corp. - October 21, 2019) - Hill Street Beverage Co. (TSXV: BEER): Many investors have been asking about our plans to produce cannabis beverages since the mutual cancellation of the proposed acquisition of OneLeaf Cannabis. We believe the termination of this transaction will ultimately prove to be in the best interests of all shareholders, particularly given the current market sentiment towards further investment in cannabis cultivation facilities.

Since the cancellation of the transaction, we have been engaged in discussions with multiple companies who provide third-party bottling and canning services in facilities designed and licensed to produce cannabis beverages. We believe this avenue to produce our cannabis infused products will prove to be the best use of capital in a fast-moving industry where fundamental regulatory changes, coupled with changes in available suppliers, technologies, and services are likely to occur on a regular basis.

We anticipate announcing an agreement in the near future with one or more of these third-party service providers to produce our products, which management believes will significantly accelerate the launch of our cannabis beverage products into the newly created legal market when compared to completing the acquisition.

Signed

Terry Donnelly, Chairman and CEO, Hill Street Beverage Company Inc.,
[e-mail], [phone]