Full Press Release Details
Kelowna, BC August 5, 2014 - Lexaria Corp. (LXRP-OTCQB)
(LXX-CSE) (the "Company" or "Lexaria") is announces that it is in the
process of making all the cash and stock payments required to secure its lease
of the Burlington marijuana production facility to Dec 9, 2014. This includes
the issuance of 91,662 restricted common shares to the building owner as
Lexaria s portion of the lease costs.
As earlier announced, the Burlington joint venture with
Enertopia Corp has received municipal approval. The Lexaria/Enertopia joint
venture is for a building of approx 75,000 sq ft in total potential space
available. Additional lease payments will be required after Dec 9, 2014.
Progress on the joint venture continues to be made and Lexaria will report new
developments soon, as they are finalized.
Separately, the Company has issued 82,031 restricted common
shares to Agora Internet Relations Corp, for a quarterly payment as per an
agreement originally announced in March, 2014.
Although the share issuances disclosed herein are not large,
Lexaria has a policy of informing investors on every occasion when shares are
issued, as changes to the Company s capital structure are material events. It is
important that shareholders have the most current information possible, and this
is part of Lexaria s continuous efforts at full transparency. After these shares
are issued, Lexaria will have 32,998,357 shares issued and outstanding.
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 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.
To learn more about Lexaria Corp. visit
FOR FURTHER INFORMATION PLEASE CONTACT:
Bunka, CEO: (250) 765-6424
Clark Kent, Media Inquiries: (647) 519-2646
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. It is impossible to identify all such factors but they include and
are not limited to the existence of underground deposits of commercial
quantities of oil and gas; cessation or delays in exploration because of
mechanical, weather, operating, financial or other problems; capital
expenditures that are higher than anticipated; or exploration opportunities
being fewer than currently anticipated. There can be no assurance that road or
site conditions will be favorable for field work; no assurance that well
treatments or workovers will have any effect on oil or gas production; no
assurance that oil field interconnections will have any measurable impact on oil
or gas production or on field operations, and no assurance that any expected new
well(s) will be drilled or have any impact on the Company. There can be no
assurance that expected oil and gas production will actually materialize; and
thus no assurance that expected revenue will actually occur. There is no
assurance the Company will have sufficient funds to drill additional wells, or
to complete acquisitions or other business transactions. Such forward looking
statements also include estimated cash flows, revenue and current and/or future
rates of production of oil and natural gas, which can and will fluctuate for a
variety of reasons; oil and gas reserve quantities produced by third parties;
and intentions to participate in future exploration drilling. Adverse weather
conditions including but not limited to surface flooding can delay operations,
impact production, and cause reductions in revenue. The Company may not have
sufficient expertise to thoroughly exploit its oil and gas properties. The
Company may not have sufficient funding to thoroughly explore, drill or develop
its properties. 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 business will provide any
benefit to Lexaria, and no assurance that any proposed new facility will be
built or proceed, nor that municipal or Health Canada regulatory approvals will
be obtained. There is no assurance that any municipality where proposed
facilities are located will retain its approval for a medical marijuana
production facility. The Company is not currently growing or selling medical
The CNSX has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.