Discontinued Operations
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Aug. 31, 2014
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Discontinued Operations [Text Block] |
On November 26, 2014 a Purchase and Sale Agreement was entered into between Lexaria Corporation, and Cloudstream Belmont Lake, LP for the purchase and sale of oil and gas working interests, net revenue interests and other interests in Belmont Lake, Mississippi for total consideration of $1,400,000, which subject to adjustments as provided in the Purchase and Sale Agreement. The final purchase price was approximately $1400,000. The scheduled closing date of the Purchase and Sale Agreement is December 5, 2014. Accordingly, the results of the Company’s former oil and gas business have been reported as discontinued operations for all periods presented. Discontinued operations were comprised of :
Assets and liabilities of discontinued operations held for sale included the following:
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