Full Press Release Details
KELOWNA, BC December 10, 2015 - Lexaria Corp. (OTCQB: LXRP)
(CSE: LXX) (the "Company" or "Lexaria") announces it has closed the Private
Placement financing announced on September 18 for gross proceeds of
Lexaria will issue 500,000 common shares at US$0.18 and 250,000
full warrants that expire on December 10, 2017 with an exercise price of US$0.30
good to purchase an additional common share. Cash finders fees of US$2,520 and
14,000 broker s warrants were issued and paid. The broker warrants have an
exercise price of US$0.30 and expire December 10, 2017.
All issued shares will be subject to a hold period, for any
resale into the USA under Rule 144, of six months and one day; and within Canada
subject to a hold period of not less than 4 months and a day.
Proceeds of the Private Placement will be used for general
working capital, for administrative needs, to accelerate technology development,
and for deployment and marketing of hemp oil based gourmet food products. The
Private Placement is subject to normal regulatory approvals.
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 is a food sciences company, with common shares quoted
in the USA with symbol LXRP and in Canada with symbol LXX. The company searches
for projects that could provide potential above-market returns.
To learn more about Lexaria Corp. visit
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. 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. Access
to capital, or lack thereof, is a major risk and there is no assurance that the
Company will be able to raise required working capital. Current oil and gas
production rates may not be sustainable and targeted production rates may not
occur. 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 and other factors which may be identified from time to time in the
Company's public announcements and filings. There is no assurance that the
medical marijuana, CBD sector, or alternative health businesses will provide any
benefit to Lexaria, or that the Company will experience any growth through
participation in these sectors. There is no assurance that existing capital is
sufficient for the Company's needs or that it will need to attempt to raise
additional capital. 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 cannabinoid-based product will
promote, assist, or maintain any beneficial human health conditions whatsoever.
No statement herein has been evaluated by the Food and Drug Administration
(FDA). ViPovaTM products are not intended to diagnose, treat, cure or
prevent any disease.
The CNSX has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.