Full Press Release Details
Lexaria Issues Shares as per Management Contract
Kelowna, BC / August 17, 2015 / Lexaria, Corp. (OTCQB:LXRP)
(CSE:LXX) (the Company ) announces it has cancelled the 500,000 restricted
common shares issued on July 22, 2015, as per an existing management consulting
contract, to Docherty Management Limited.
In their place, 420,000 restricted common shares have been
awarded to Docherty Management Limited as well as US$16,000 in order to
compensate for the estimated tax burden of receiving restricted common shares
that are not freely tradable.
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. There are no
proceeds received by the Company. The Issuance is subject to normal regulatory
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 focused on
the delivery of hemp oil compounds procured from legal, agricultural hemp,
through gourmet foods based upon its proprietary infusion technologies.
legal hemp oil extracts, grown from agricultural hemp in locations where it is
legal to do so, in ViPovaTM-branded tea. ViPovaTM uses its
patent-pending process to infuse concentrated amounts of hemp oil within lipids
in its tea, providing more bioactivity and comfort to the body during the
absorption process. Only ViPovaTM has this ground-breaking technology
for hemp oil/lipid infusion. www.vipova.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. 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. 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, hemp oil 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 hemp oil or
cannabinoid-based product will promote, assist, or maintain any beneficial human
health conditions whatsoever. There is no assurance that the cannabinoid/lipid
infusion technology will provide any increase in bioavailability to any
individual person. 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 CSE has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.