Filed by newsfilecorp.com NEWS RELEASE Lexaria and Enertopia Update LOI with Signed Definitive Joint Venture Agreement Kelowna, BC

Lexaria and Enertopia Update LOI with Signed Definitive

Joint Venture Agreement

Kelowna, BC May 29, 2014 - Lexaria Corp. (LXRP-OTCQB)

(LXX-CSE) (the "Company" or "Lexaria") announces it has signed the

definitive Joint Venture agreement as required in the Letter of Intent that was

first announced with Enertopia Corp on April 10, 2014.

The Definitive Joint Venture agreement was contemplated at the

time of signing the initial April 10, 2014 Letter of Intent, and governs the

procedures and practices by which the marijuana production facility in the

Greater Toronto Area will be operated. As previously reported, Lexaria is paying

55% of costs in order to earn a 49% interest in the facility.

The municipal approval process continues to proceed for this

facility, located in the Greater Toronto Area. Neither the LOI nor the

Definitive Agreement has any bearing or relationship with the newer Eastern

Ontario proposed facility announced on May 27, which itself will be owned and

operated 100% by Lexaria.

Separately, the Company announces that 50,000 stock options

priced at $0.10 have been exercised and Lexaria has received $5,000 in

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

www.lexariaenergy.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Chris Bunka, CEO: (250) 765-6424

Clark Kent, Media Inquiries: (647)

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 the municipality where the building is located will grant its

approval for a medical marijuana production facility.

The CNSX has not reviewed and does not accept responsibility

for the adequacy or accuracy of this release.