Lexaria Announces Exercises of Existing Warrants. Kelowna, British Columbia

Lexaria Announces Exercises of Existing Warrants.

Kelowna, British Columbia December 22, 2017 Lexaria

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

various option and warrant transactions. Lexaria announces it has received

US$95,857.20 from the exercise of a stock warrants and a compensation

option certificate previously granted. The compensation option certificate was

exercised at the price of US$0.42 and a total of 7,200 common shares are being

issued. This exercise is by a third party who is neither an officer nor a

director of the Company. The Company has also received for exercise a total of

230,062 warrants previously granted; being 9,000 @ US$0.14; 125,400 @ US$0.273;

and 95,662 @ US$0.60.

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.

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.

Forregularupdates,connectwithLexaria:

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.