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Capital Stock [Text Block] |
Share Issuances On September 16, 2015, the Company’s Board has appointed Ted McKechnie as a Director. He was issued 100,000 common shares of the Company at $0.19 per share. On November 24, 2015, our board of directors approved a forward stock split of our authorized and issued and outstanding shares of common stock on a basis of 1 old share of common stock for 1.1 new shares of common stock. Upon effect of the forward stock split our authorized capital increased to 220,000,000 shares of common stock, par value $0.001 and our issued and outstanding shares increased from 39,952,984 to 43,948,282 shares of common stock, with a par value of $0.001. The reverse stock split has been reviewed by the Financial Industry Regulatory Authority ("FINRA") and the Canadian Securities Exchange ("CSE") and was approved for filing with an effective date of December 16, 2015. The forward split became effective with the OTC Markets at the opening of trading on December 16, 205 under the symbol “LXRPD”. The "D" was placed on our ticker symbol for 20 business days and subsequently removed. Our new CUSIP number is 52886N307. On November 30, 2015, the Company received partial proceeds of $36,000 prior to the closing of the financing in December. The shares have been issued in December when the financing was closed and 200,000 shares were issued at $0.18 for the $36,000. On December 10, 2015, Lexaria closed a private placement by issuing 500,000 units at a price of US$0.18 per unit for gross proceeds of US$90,000, which included the $36,000 received on November 30, 2015. Each Unit consists of one common share of the Company and one half transferable Share purchase warrant (“Warrant”). Each Full Warrant will be exercisable into one further Share (a “Warrant Share”) at a price of US$0.30 per Warrant Share for a period of twenty four (24) months following closing. A cash finders’ fee for $2,520 was paid to Leede Financial Markets Ltd.; and 14,000 broker warrants with an exercise price of $0.30 for a period of twenty four months were issued to Leede Financial Markets Ltd. As at February 29, 2016, Lexaria Corp. has 44,553,282 shares issued and outstanding and 6,488,020 warrants issued and outstanding. The following table summarizes warrant existence in the period ended February 29, 2016:
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