Exhibit 99.1
Lexaria Announces Exercises of Existing Warrants.
Kelowna, British Columbia January 17, 2018 Lexaria Bioscience Corp. (OTCQX: LXRP) (CSE: LXX) (the Company or Lexaria) announces various option and warrant transactions. Lexaria announces it has received US$349,223.44 from the exercise of warrants and options previously granted. The options were exercised at the price of US$0.2273 and 110,000 common shares are being issued. The Company has also received for exercise a total of 542,332 warrants previously granted; being 6,532 broker warrants @ US$0.42 and 535,800 warrants @ US$0.60. The warrant and option exercises are by third parties who are neither an officer nor a director of the Company.
3,266 new warrants are issued related to the exercise of the broker warrants, each warrant good to buy one common share at a price of US$0.60 until April 3, 2019.
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.
The Company separately announces that it has engaged JGRNT Capital Corp to provide strategic consulting services to the Company for a one-year term with base compensation set at CDN$1,000 monthly and the awarding of 500,000 warrants, each valid to purchase one common share at a price of US$1.83 and valid for two years.
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. 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 regular updates, connect with Lexaria:
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. Scientific R&D is often
unpredictable and unanticipated results could emerge from any study and have a
material impact. There is no assurance that any planned corporate activity,
scientific study, R&D, 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, DehydraTECHTM technology 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.