Full Press Release Details
For Canadian Distribution Only
Lexaria Intends to Complete an Equity Financing of
Kelowna, BC / May 31, 2016 / Lexaria Bioscience Corp.
(OTCQB:LXRP) (CSE:LXX) (the "Company" or "Lexaria") reports its intention to
complete a non-brokered private placement financing of 700,000 equity units
priced at US$0.11; each equity unit consisting of one common share of the
Company and one-half of a non-transferable share purchase warrant, each whole
warrant entitling the holder to purchase one additional common share of the
Company for a period of three years from the date of issuance, at a purchase
price of US$0.14; in order to raise gross proceeds of up to CDN $100,000
(US$77,000) (the "Private Placement").
All funds raised of up to US$77,000 will be used to continue
deployment and marketing of hemp based food products, for investor relations,
and for G&A and general working capital.
The securities issued will be subject to a hold period in
Canada of four months and one day, or for any resales into the USA under Rule
144, six months and one day. The Private Placement will be 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 Bioscience Corp. is a food sciences company focused on
the delivery of active compounds that can behave as superfoods through its
proprietary infusion technologies. Lexaria s technology enables higher
bioavailability rates for CBD; THC; NSAIDs; Nicotine and other molecules than is
possible without lipophilic enhancement technology. This can allow for lower
overall dosing requirements and/or higher effectiveness in active molecule
delivery. Lexaria hopes to reduce other common but less healthy ingestion
methods such as smoking as it embraces the benefits of public health.
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, including but not limited to: the
intention to raise up to US$77,000 for various corporate purposes. 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, the patent application and approval process 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 not 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. There is no assurance that
any patent application in the USA or any other nation or under any treaty will
result in the award of an actual patent; nor that an award of any actual patent
will protect against challenges from unknown third parties. There is no
assurance that any of Lexaria s postulated uses, benefits, or advantages for the
patent-pending technology will in fact be realized in any manner or in any part.
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.