Lexaria Announces Option and Warrant Transactions. Kelowna, British Columbia

Lexaria Announces Option and Warrant Transactions.

Kelowna, British Columbia December 1, 2017 Lexaria

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

various stock, option and warrant transactions.

Lexaria announces it has received US$6,733.02 from the

exercise of a compensation option certificate previously granted. The

compensation option certificate was exercised at the price of US$0.42 and a

total of 16,031 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 issued 8,016 warrants with an exercise price of US$0.60 and an expiration

date of April 3, 2019, related to the compensation option certificate.

Lexaria is issuing 14,634 restricted common shares at an

issuance price of US$0.82 per shares to settle US$12,000 of debt to a director

Lexaria is granting 200,000 stock options with an exercise

price of US$0.83 and an expiration date of December 1, 2022 to an officer of the

Company, pursuant to an existing management contract. Lexaria is awarding

250,000 stock warrants with an exercise price of US$0.83 and an expiration date

of December 1, 2019 to a manager of the Company, pursuant to a management

Lexaria is awarding a total of 209,056 restricted common shares

at an issuance price of US$0.82 as required by intellectual property performance

thresholds within an existing management consulting contract with the Company

divided between three officers and three managers.

Following issuance of these

common shares, Lexaria will have 69,674,919 common shares issued and

outstanding. 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 patented 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 was granted its first patents in the USA and in Australia

related to edible forms of cannabinoids. 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 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. 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 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, 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.