Existing Warrants Exercised for Lexaria Kelowna, BC /

Existing Warrants Exercised for Lexaria

Kelowna, BC / April 27, 2017 / Lexaria Bioscience Corp

(OTCQB:LXRP) (CSE:LXX) (the Company or Lexaria ) announces it has received

US$242,047.50 from the exercise of warrants previously granted. The stock

warrants were exercised at prices of US$0.2273, US$0.14, and US$0.31 for a total

of 1,075,000 common shares being issued. All warrants are being exercised by

third parties who are neither officers nor directors of the Company.

Following issuance of these common shares, Lexaria will have

62,080,759 common shares issued and outstanding. No commissions or placement

fees have been paid related to the funds received from this warrant exercise.

Proceeds will be used for general corporate purposes. Lexaria extends its thanks

to its loyal shareholders for their continued support.

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.

Lexaria Bioscience Corp is a food biosciences company with a

proprietary technology for improved delivery of bioactive compounds. The

Company s lipophilic enhancement technology has been shown to enhance the

bioavailability of orally ingested cannabinoids, while also improving taste.

This technology promotes healthy ingestion methods, lower overall dosing and

higher effectiveness in active molecule delivery. The Company s technology is

patent-protected for cannabidiol (CBD) and all other non-psychoactive

cannabinoids, and patent-pending for Tetrahydrocannabinol (THC), other

psychoactive cannabinoids, non-steroidal anti-inflammatory drugs (NSAIDs),

nicotine and other molecules. www.lexariabioscience.com

FOR FURTHER INFORMATION PLEASE CONTACT:

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. There is no assurance that any planned corporate activity, business

venture, or initiative will be pursued, or if pursued, will be successful. There

is no assurance that any of Lexaria s 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 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.