Full Press Release Details
Lexaria s New President From BioPharmaceutical
Kelowna, BC / March 26, 2015 / Lexaria, Corp. (OTCQB:LXRP)
(CSE:LXX) (the Company ) is pleased to announce an important addition to the
Lexaria management team.
John Docherty, M.Sc. is the new President of Lexaria Corp,
replacing Chris Bunka who will continue at his existing positions of CEO and
Chairman. Mr. Docherty was former President and Chief Operating officer of Helix
BioPharma Corp. (TSX: HBP), where he led the company s pharmaceutical
development programs for its plant and recombinantly derived therapeutic protein
"It is with tremendous pleasure that I join Lexaria as
President," said Mr. Docherty. "Lexaria's patent-pending lipid infusion
technology is a significant innovation for the delivery of cannabinoid compounds
from natural products, as it has already demonstrated through the launch of its
ViPovaTM-branded CBD tea. I look forward to working with the Lexaria
team to grow the Company's technology and product offerings and build upon this
success, in order to add value for Lexaria's customer and shareholder base
Mr. Docherty is a senior operations and management executive
with a wealth of experience in the pharmaceutical and biopharmaceutical sectors.
He has worked with large multinational companies and emerging, private and
publicly held, Canadian startups; and he also brings specialized knowhow in the
field of naturally-derived products and technologies specifically.
Mr. Docherty s expertise will be instrumental as we execute
and expand upon our business plan to develop and commercialize healthy
cannabinoid products to our large and growing marketplace, said outgoing
President Chris Bunka. Lexaria could not have found a better-equipped person to
accelerate our transformation into a food-sciences company focused on unique
methods of delivering compounds like cannabidiol, through popular food
Mr. Docherty has over twenty years experience in the
pharmaceutical and biopharmaceutical industries. At Helix, Mr. Docherty was also
instrumental in the areas of investor/stakeholder relations, capital raising,
capital markets development, strategic partnering, regulatory authority
interactions and media relations, and he also served as a management member of
its board of directors. Prior to this, Mr. Docherty was President and a board
member of PharmaDerm Laboratories Ltd., a Canadian drug delivery company that
developed unique microencapsulation formulation technologies for use with a
range of active compounds.
Mr. Docherty has also held positions with companies such as
Astra Pharma Inc., Nu-Pharm Inc. and PriceWaterhouseCoopers former global
pharmaceutical industry consulting practice. He is a named inventor on issued and
pending patents and he has a M.Sc. in pharmacology and a B.Sc. in Toxicology
from the University of Toronto.
Mr. Docherty s expertise will be of great value to the Company
as it continues to develop its CBD-based products and builds and strengthens its
intellectual property portfolio in the sector.
Mr. Docherty will immediately be granted 500,000 stock options
good to purchase 500,000 shares of common stock priced at US$0.10 each, valid
for up to five years, and can earn additional share and option awards linked to
performance milestones.
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. The share
issuance 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
Lexaria's shares are 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. www.lexarienergy.com
legal CBD oil extracts, grown from legal 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 CBD 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 CBD/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. 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
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.