Lexaria's Voluntary Delisting from CSE
1. What is a voluntary delisting?
A voluntary delisting occurs when a company willingly decides to remove its shares from a securities exchange.
2. Why has Lexaria made the decision to voluntarily delist from the CSE?
Since Lexaria's shares began trading on the Nasdaq in January 2021, the overwhelming majority of trading has moved to Nasdaq, providing more liquidity for shareholders than ever before experienced. The Company expects to realize savings in fees and managerial time and effort that were required to maintain a dual listing that can now be redirected into the Company's applied research and development programs, further advancing the business of the Company.
3. What will happen to the common shares that were traded on the CSE after Lexaria's voluntary delisting from the CSE?
When Lexaria's voluntary delisting from the CSE becomes effective after the closing of trading on Wednesday, July 7, 2021, Lexaria's common shares will no longer be traded on the CSE. Lexaria's shares will then be traded exclusively on the Nasdaq exchange.
4. What do I need to do if I am a holder of Lexaria common shares that were traded on the CSE?
If you are a holder of Lexaria common shares that were traded on the CSE, you are encouraged to contact your broker(s) to verify how to trade your common shares on Nasdaq in the future.
5. Will I retain the same number of common shares once the voluntary delisting from the CSE occurs?
Yes, you will retain the same number of shares. If you own 100 shares of “LXX” on the CSE today, this will automatically transfer to be 100 shares of “LEXX” on the Nasdaq. The Nasdaq shares will be quoted in US dollars.
6. How do I buy or sell common shares of Lexaria?
Lexaria’s common shares can be purchased and sold on the Nasdaq exchange under the symbol “LEXX”. The majority of brokers in Canada maintain ready access to Nasdaq and can execute your investment instructions accordingly.
7. What if my broker cannot trade on Nasdaq?
Nasdaq is a global electronic marketplace for buying and trading securities and includes the world’s foremost technology and biotech companies. Most brokers in Canada, including discount and online brokers, have the ability to buy and sell securities listed on Nasdaq.
8. I purchased Lexaria shares in Canadian dollars. Will these shares now be valued in US dollars?
Your common shares will trade on Nasdaq in US dollars. The value of your common shares may be converted into Canadian dollars by your broker if your account is denominated in Canadian dollars. We recommend that you contact your broker to confirm how this will be managed.
9. Does the delisting impact the trading of Lexaria’s common shares on Nasdaq?
No. Lexaria’s common shares will continue to be listed and traded on Nasdaq under the trading symbol “LEXX.”
10. Will Lexaria’s transfer agent, CUSIP number or ticker symbol change?
Lexaria’s transfer agent and CUSIP number will not change. Lexaria’s common shares will continue to be traded on Nasdaq under the trading symbol “LEXX” but not on the CSE under “LXX.”
11. How does the Nasdaq Listing benefit me as a shareholder?
A Nasdaq listing means your future shares are traded on a global platform, with greater access to a global institutional and retail investor base. The increased share volume brings with it added liquidity to your investment.
12. Will my Lexaria Shares remain a “qualified investment” for the purposes of maintaining them in my Canadian registered savings plan?
Yes. Shares listed on the Nasdaq Capital Markets meet the criteria of a “qualified investment” for the purposes of maintaining Lexaria shares in Canadian Registered Savings Plans, including RRSP, RESP, RRIF, RDSP and TFSA.