Exhibit 99.2
Lexaria Warrant Exercises and Patent Share Awards
Kelowna, British Columbia August 31, 2018 Lexaria Bioscience Corp. (OTCQX: LXRP) (CSE: LXX) (the Company or Lexaria), a drug delivery platform innovator, announces it has received funds from the exercise of warrants.
Lexaria has received US$412,133 from the exercise of 298,000 warrants at the price of US$0.60 and 1,666,666 warrants at the price of US$0.14, previously granted to third parties who are neither officers nor directors of the Company.
Lexaria has also issued a total of 69,000 restricted common shares at an issue price of US$2.07 as required by executive consulting agreements, to the Chief Executive Officer and the President of the Company. The shares are required to be issued upon certain intellectual property achievements and patent application filings in June that triggered the awards. Cash compensation of US$64,170 designed to offset tax liabilities from the share award was also granted.
Lexaria also granted 50,000 stock options to each of two Advisors to the Company, valid for five years with an exercise price of US $2.06, vesting immediately, in recognition of the superb contributions to Lexaria of these individuals.
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 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
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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 as can any results that cannot be reproduced in subsequent
testing. 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). TurboCBDTM,
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.