​Lexaria Bioscience and Hill Street Beverage Company Announce Definitive Agreement for Cannabis-Infused Beverages

Spotlight News  |

Lexaria Bioscience Corp. (LXRP)(XX:CNX); the "Company" or "Lexaria"), a drug delivery platform innovator, and Hill Street Beverage Company Inc., (BEER; "Hill Street") jointly announced that they have signed a Definitive Agreement to license Lexaria's DehydraTECHTM, on a semi-exclusive basis, for a term of five (5) years, to produce a line of cannabis-infused alcohol-free beverages for Canadian distribution, following regulatory approval. The Definitive Agreement is the conclusion of the process begun following the announcement of the non-binding letter of intent in April 2018. Terms of the Definitive Agreement were not disclosed.

US$56,250 (CDN$73,497), representing a portion of the compensation payable to Lexaria, shall be paid and satisfied in common shares in the capital of Hill Street, at a purchase price of CDN$0.175, for an aggregate of 419,982 common shares (the "Compensation Shares"). The issuance of the Compensation Shares is subject to regulatory approval, including without limitation, the approval of the TSX Venture Exchange.

Lexaria's beverage formulation adaptations use patented technology to act quickly, but without adding any taste or odour, thereby delivering predictable experiences that dissipate more quickly than many other cannabinoid edible products. Lexaria has already lab-tested Hill Street's alcohol-free red and white wines to formulate cannabinoid-fortified wines, and such tests show virtually zero cannabis taste or odour.

Hill Street CEO, Terry Donnelly, stated, "Our goal is to provide traditional beer and wine drinkers with great tasting products that use cannabis to mimic the onset and duration of effect that has historically come from alcohol, but without alcohol's toxicity and added calories. While the early versions of our wines infused with Lexaria's process have shown great promise, we are extremely excited about the progress Lexaria continues to make with their infusion technologies. Lexaria has already demonstrated its importance to our model as a key strategic partner in our business, and this agreement secures our future together. As Hill Street's progress into producing the world's finest alcohol-free and cannabis-infused beverages continues, Lexaria has demonstrated that they will continue to innovate and improve on their process. This will help to ensure Hill Street is always at the forefront of producing world-class wine, beer and other adult format beverages."

Chris Bunka, CEO of Lexaria stated, "Hill Street's award-winning and great-tasting wines and beers need an odourless and tasteless infusion process like our powerful DehydraTECHTM platform to ensure they will remain that way after the inclusion of cannabis. Our proven ability to render full spectrum cannabis and hemp oil into a water-soluble ingredient with no impact on the taste and smell of complex beverages like wine enables Hill Street to produce adult format beverages that will give consumers the recreational experience of cannabis, while enjoying tastes and experiences consistent with consuming traditional wine, beer and other adult format beverages."

About Lexaria Bioscience Corp. (OTCQX: LXRP) (CSE: LXX)

Lexaria Bioscience Corp. licenses disruptive patented 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.

In the interest of full disclosure, we call the reader's attention to the fact that Equities.com, Inc. is compensated by the companies profiled in the Spotlight Companies section. The purpose of these profiles is to provide awareness of these companies to investors in the micro, small-cap and growth equity community and should not in any way be considered as a recommendation to buy, sell or hold these securities. Equities.com is not a registered broker dealer, investment advisor, financial analyst, investment banker or other investment professional. We are a publisher of original and third party news and information. All profiles are based on information that is available to the public. The information contained herein should not be considered to be complete and is not guaranteed by Equities.com to be free from misstatement or errors. The views expressed are our own and not intended to be the basis for any investment decision. Readers are reminded to do their own due diligence when researching any companies mentioned on this website. Always bear in mind that investing in early-stage companies is risky and you are encouraged to only invest an amount that you can afford to lose completely without any change in your lifestyle. Equities has been compensated with cash, common shares and/or warrants for market awareness services provided.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
LXRP Lexaria Bioscience Corp. 1.89 0.10 5.56 260,268
LXX:CNX Lexaria Bioscience Corp 2.46 0.12 5.13 143,618

Comments

Emerging Growth

Investview Inc

Investview Inc is an investor technology and education company. It provides products that allow the individual investor to find, analyze, track, and manage their portfolio.