Exhibit 99.1
Lexaria Announces Option and Warrant Transactions.
Kelowna, British Columbia December 1, 2017 Lexaria Bioscience Corp. (OTCQB: LXRP) (CSE: LXX) (the Company or Lexaria) announces various stock, option and warrant transactions.
Lexaria announces it has received US$6,733.02 from the exercise of a compensation option certificate previously granted. The compensation option certificate was exercised at the price of US$0.42 and a total of 16,031 common shares are being issued. This exercise is by a third party who is neither an officer nor a director of the Company. The Company has also issued 8,016 warrants with an exercise price of US$0.60 and an expiration date of April 3, 2019, related to the compensation option certificate.
Lexaria is issuing 14,634 restricted common shares at an issuance price of US$0.82 per shares to settle US$12,000 of debt to a director of the Company.
Lexaria is granting 200,000 stock options with an exercise price of US$0.83 and an expiration date of December 1, 2022 to an officer of the Company, pursuant to an existing management contract. Lexaria is awarding 250,000 stock warrants with an exercise price of US$0.83 and an expiration date of December 1, 2019 to a manager of the Company, pursuant to a management contract.
Lexaria is awarding a total of 209,056 restricted common shares at an issuance price of US$0.82 as required by intellectual property performance thresholds within an existing management consulting contract with the Company divided between three officers and three managers.
Following issuance of these common shares, Lexaria will have 69,674,919 common shares issued and outstanding. 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.
About Lexaria
Lexaria Bioscience Corp. has developed
and out-licenses its disruptive patented 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 was granted its first patents in the USA and in Australia
related to edible forms of cannabinoids. Lexarias 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.
www.lexariabioscience.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Bioscience
Corp.
Alex Blanchard, Communications Manager
(778) 796-1897
Or
NetworkNewsWire (NNW)
www.NetworkNewsWire.com
FORWARD-LOOKING STATEMENTS
This release includes
forward-looking statements. Statements which are not historical facts are
forward-looking statements. The Company makes forward-looking public statements
concerning its expected future financial position, results of operations, cash
flows, financing plans, business strategy, products and services, competitive
positions, growth opportunities, plans and objectives of management for future
operations, including statements that include words such as "anticipate," "if,"
"believe," "plan," "estimate," "expect," "intend," "may," "could," "should,"
"will," and other similar expressions are forward-looking statements, including
but not limited to: that any additional stock warrants or stock options will be
exercised. Such forward-looking statements are estimates reflecting the
Company's best judgment based upon current information and involve a number of
risks and uncertainties, and there can be no assurance that other factors will
not affect the accuracy of such forward-looking statements. Factors which could
cause actual results to differ materially from those estimated by the Company
include, but are not limited to, government regulation, managing and maintaining
growth, the effect of adverse publicity, litigation, competition, the patent
application and approval process and other factors which may be identified from
time to time in the Company's public announcements and filings. There is no
assurance that existing capital is sufficient for the Company's needs or that it
will be able to raise additional capital. There is no assurance that Lexaria
will successfully complete any other contemplated or existing technology license
agreements; or that results from any studies will be favorable or in any way
support future business activities of any kind. There is no assurance that any
planned corporate activity, business venture, or initiative will be pursued, or
if pursued, will be successful. There is no assurance that any of Lexarias
postulated uses, benefits, or advantages for the patented and patent-pending
technology will in fact be realized in any manner or in any part. No statement
herein has been evaluated by the Food and Drug Administration (FDA). Lexaria
Energy Foods, Ambarii, and ViPovaTM products are not intended to
diagnose, treat, cure or prevent any disease.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.