Lexaria Announces Exercises of Existing Warrants, Enters Consulting Agreement Kelowna, British Columbia

Lexaria Announces Exercises of Existing Warrants, Enters

Consulting Agreement

Kelowna, British Columbia May 28, 2018 Lexaria Bioscience

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

Lexaria announces it has received US$63,000 from the

exercise of warrants previously granted. The Company has received for exercise a

total of 450,000 warrants with an exercise price of US$0.14, previously granted.

The warrant exercises are by third parties who are neither an officer nor a

director of the Company.

No commissions or placement fees have been paid related to the

funds received from these warrants exercised. Proceeds will be used for general

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. Separately, Lexaria

also announces it has entered into a three-year consulting contract for the cost

of a one-time payment of US$500 and the granting of 250,000 warrants expiring

three years after issuance with an equity exercise price of US$1.55. No shares

are being issued at this time. Services to be provided include customer

relations and introductions, participation at industry events, and communication

of Lexaria s technology to other prospective customers.

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. www.lexariabioscience.com

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

FOR FURTHER INFORMATION PLEASE CONTACT:

Alex Blanchard, Communications Manager

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.