Lexaria Announces 2018 AGM Results and Corporate Update Kelowna, British Columbia

Lexaria Announces 2018 AGM Results and Corporate Update

Kelowna, British Columbia July 3, 2018 Lexaria Bioscience

Corp. (OTCQX: LXRP) (CSE: LXX) (the Company or Lexaria ) announces the

results of the 2018 Annual General and Special Meeting. All motions were passed.

Lexaria thanks its shareholders for their overwhelming support

as the Company continues to make significant progress in pursuing its

Lexaria has recently been informed by tax experts that a

certain class of shareholders may be adversely affected by punitive taxes upon

the conversion of the Company from US-based to Canadian-based. As a result, the

planned redomiciling from the USA to Canada has been placed on indefinite hold

until such time as a solution to the inequitable tax treatment can be resolved.

This may result in the plan of conversion taking place at a later time if a tax

solution can eventually be realized, or not at all if equitable tax treatment

The previously announced corporate reorganization is proceeding

on schedule and has been expanded. Lexaria is forming four new wholly-owned

subsidiaries, one each for the pharmaceutical, nicotine, hemp, and cannabis

industries. The division recognizing separate industry sectors is expected to

greatly assist in their evolution and growth including but not limited to

research and development and finance.

Lexaria s large and growing intellectual property portfolio

anchored by the DehydraTECHTM patented absorption technology will be

utilized by each subsidiary with applications related to each particular

Lexaria Bioscience Corp. has developed

and out-licenses its disruptive delivery technology that promotes healthier

ingestion methods, lower overall dosing and higher effectiveness of lipophilic

active molecules. Lexaria has multiple patents pending in over 40 countries

around the world and has patents granted in the USA and in Australia for utilization

of its DehydraTECHTM delivery technology. Lexaria s technology

provides increases in intestinal absorption rates; more rapid delivery to the

bloodstream; and important taste-masking benefits, for orally administered

bioactive molecules including cannabinoids, vitamins, non-steroidal

anti-inflammatory drugs (NSAIDs), nicotine and other molecules.

For regular updates, connect with Lexaria on Twitter (https://twitter.com/lexariacorp)

FOR FURTHER INFORMATION PLEASE CONTACT:

Lexaria Bioscience Corp.

Alex Blanchard, Communications

NetworkNewsWire (NNW)

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: that any additional stock warrants or stock options will be

exercised. 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. 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 existing capital is sufficient for the Company's needs or that it

will be able to raise additional capital. There is no assurance that Lexaria

will successfully complete any other contemplated or existing technology license

agreements; or that results from any studies will be favorable or in any way

support future business activities of any kind. Scientific R&D is often

unpredictable and unanticipated results could emerge from any study and have a

material impact. There is no assurance that any planned corporate activity,

scientific study, R&D, business venture, or initiative will be pursued, or

if pursued, will be successful. There is no assurance that any of Lexaria s

postulated uses, benefits, or advantages for the patented and 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). Lexaria

Energy Foods, Ambarii, DehydraTECHTM technology and 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.