Full Press Release Details
Lexaria Announces Price Cuts on
ViPovaTM Tea Products.
Kelowna, BC / November 15, 2016 / Lexaria Bioscience Corp.
(OTCQB:LXRP) (CSE:LXX) (the Company or Lexaria ) announces dramatic price
cuts on all ViPovaTM tea products, just in time for the busiest
shopping season of the year.
Effective immediately, all ViPovaTM black and herbal
teas have new lower retail prices of just US$15.99 for a box of 16 teabags,
always fortified with full spectrum hemp oil that utilizes Lexaria s patented
absorption and taste enhancing technology. Previously, 16 teabags were priced at
US$48, making this a price reduction of 73%.
Lexaria is committed to always placing its customers first, and
to share efficiencies. These price cuts are a reflection of two trends: First,
wholesale bulk prices of commercial quantities of full spectrum hemp oil have
declined significantly in the past year, and Lexaria is passing those savings on
to its customers. Second, Lexaria s manufacturing and formulation efficiencies
have advanced, resulting in lower costs of production.
ViPova products lead the industry in quality and we now lead
the industry in pricing, said Chris Bunka, CEO. We believe our new retail
pricing of just $1 per serving leads the entire cannabinoid industry and we
believe this aggressive new pricing will open up retail distribution
opportunities that were previously impossible to penetrate.
All ViPova teas are now packaged in attractive boxes suitable
for retail and counter presentation, with inner plastic bags to preserve
Shoppers can buy online at www.vipova.com where the new
prices have been implemented. The price reductions apply to all teas regardless
of flavor or variety. Lexaria encourages shoppers to visit early and complete
some of their 2016 holiday season shopping. Holiday season retail sales comprise
up to 30% of the entire year s revenue for many retailers.
More consumers are expected to complete their holiday shopping
online in 2016 than those who visit discount stores, electronics stores, grocery
stores, or even clothing stores. 87% of shoppers are willing to spend an extra
$25 this holiday season on gifts for themselves or others, if tempted by an
unusually attractive sale or promotion, according to the National Retail
Federation. Online retail sales this holiday season in the US are expected to
Lexaria Bioscience Corp. is a food biosciences company with
patented technology for improved delivery of bioactive compounds. The Company s
lipophilic enhancement technology has been shown to enhance the bioavailability
of orally ingested cannabinoids, while also improving taste. This technology
promotes healthy ingestion methods, lower overall dosing and higher
effectiveness in active molecule delivery. The Company s technology is
patent-protected for cannabidiol (CBD) and all other non-psychoactive
cannabinoids, and patent-pending for Tetrahydrocannabinol (THC), other
psychoactive cannabinoids, non-steroidal anti-inflammatory drugs (NSAIDs),
nicotine and other molecules.
FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Bioscience Corp.
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
the Company s technology enables higher rates of absorption of certain molecules
such as vitamins and cannabinoids while simultaneously masking and at times even
eliminating inherent strong flavors and/or odors typical of those molecules, or
that the technology will function in a similar manner if tested with THC,
nicotine, or any of the other molecules named in our patent applications. 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 any license agreement,
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 be able to raise additional capital. There is no
assurance that Lexaria s technology will deliver any improvement in taste or
bioavailability with any reliability nor across any product category. 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, nor 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
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 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.