Lexaria Appoints New Auditors Kelowna, BC /

Lexaria Appoints New Auditors

Kelowna, BC / October 6, 2016 / Lexaria Bioscience Corp.

(OTCQB:LXRP) (CSE:LXX) (the Company or Lexaria ) announces it has appointed

Davidson and Company, LLP, Chartered Professional Accountants, as its new

independent registered public auditing firm for its fiscal year ending August

There were no reservations nor any modified opinions expressed

in the Former Auditor s reports on any of the Company s financial statements

relating to the period commencing at the beginning of the Company s two most

recently completed financial years and ending on the date of resignation. In the

opinion of the Company s Audit Committee and Board of Directors, there are no

reportable events between the Company and the Former Auditors. Lexaria thanks

its former auditing firm for their work, and looks forward to its new

relationship with Davidson and Company LLP.

Shareholders will be asked to ratify the appointment of

Davidson and Company, LLP, at the next annual general meeting of the Company.

Lexaria Bioscience Corp. is a food sciences company focused on

the delivery of active compounds that can behave as superfoods through its

proprietary infusion technologies. Lexaria s technology enables higher

bioavailability rates for CBD; THC; NSAIDs; Nicotine and other molecules than is

possible without lipophilic enhancement technology. This can allow for lower

overall dosing requirements and/or higher effectiveness in active molecule

delivery. Lexaria hopes to reduce other common but less healthy ingestion

methods such as smoking as it embraces the benefits of public health.

FOR FURTHER INFORMATION PLEASE CONTACT:

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. 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 the

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 or as a result of the license agreement. 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, nor 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

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). 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.