| Subsequent Events [Text Block] |
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18.
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Subsequent Events
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a) |
On September 15th, 2017, the Company issued
625,000
shares of its common stock from the exercise of warrants previously granted for proceeds of $93,750. All warrants were exercised by third parties who are neither officers nor directors of the Company.
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b) |
On October 31st, 2017, the Company announced it received a Notice of Allowance from the United States Patent and Trademark Office (“USPTO”) for the use of its technology as a delivery platform for all cannabinoids including THC; fat soluble vitamins; non steroidal anti-inflammatory pain medications (“NSAIDs”); and nicotine. The patent application number is 15/225,799, “Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof”.
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c) |
On November 2nd, 2017, the Company announced it acquired
100% ownership interest in its majority owned subsidiary PoViva Tea, LLC. The Company previously owned a
51% interest in PoViva Tea, LLC and acquired the remaining
49% interest. Compensation was US$70,000, a waiver on certain debts, and a
5%,
20
-year royalty on net profits of ViPova Tea
TM
tea, coffee, and hot chocolate sales. No Lexaria stock or options were issued.
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d) |
On November 8th, 2017, the Company issued
419,250
shares of its common stock from the exercise of options and warrants previously granted for proceeds of $69,736. All options and warrants were exercised by third parties who are neither officers nor directors of the Company.
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e) |
On November 22nd, 2017, the Company issued
427,687
shares of its common stock from the exercise of warrants previously granted for proceeds of $129,416. All options and warrants were exercised by third parties who are neither officers nor directors of the Company.
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19.
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Subsequent Events
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a) |
The Company granted
250,000
stock options to a consultant with a strike price of $0.14
per share, and expiry term of two years.
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b) |
Pursuant to its agreement with Docherty Management Ltd. (Note 17), the Company issued
252,000
restricted common shares and cash compensation of $6,240.
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c) |
Pursuant to the Advisory Agreement (Note 17), the Company issued
750,000
warrants with an exercise price of $0.14
per share and valid for five years, in return for consulting services provided in August, September, and October. The Company recognized the related fair value of
250,000
of such warrants for services received during the month of August 2016, in these consolidated financial statements.
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d) |
The Company reached an agreement with a director to settle the outstanding amount pursuant to a marketing agreement (Note 15), through issuance of common shares of the Company. To settle the outstanding amount of $16,000
for four months to October 31, 2016, the Company issued
114,286
shares of its common stock at a value of $0.14
per share.
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e) |
The Company issued
56,250
shares of its common stock in settlement of $9,000, recognized within accounts payable and accrued liabilities as at August 31, 2016.
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f) |
A total of
55,000
incentive stock options were exercised for proceeds of $12,500.
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g) |
A total of
605,000
share purchase warrants were exercised for proceeds of $137,508.
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