Lexaria Bioscience Corp. (OTCQX: LXRP) (CSE: LXX) announces warrant transactions.
Lexaria announces it has received US$63,000from the exercise of warrants previously granted. The Company has received for exercise a total of 450,000 warrants with an exercise price of US$0.14, previously granted. The warrant exercises are by third parties who are neither an officer nor a director of the Company.
No commissions or placement fees have been paid related to the funds received from these warrants exercised. Proceeds will be used for general corporate purposes.
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 also announces it has entered into a three-year consulting contract for the cost of a one-time payment of US$500 and the granting of 250,000 warrants expiring three years after issuance with an equity exercise price of US$1.55. No shares are being issued at this time. Services to be provided include customer relations and introductions, participation at industry events, and communication of Lexaria’s technology to other prospective customers.
About Lexaria
Lexaria Bioscience Corp. 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 USA and in Australia for utilization of its DehydraTECHTM 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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