Full Press Release Details
Lexaria Bioscience Awarded Australian Patent For Cannabinoid
Kelowna, British Columbia July 18, 2017 Lexaria Bioscience
Corp. (OTCQB: LXRP) (CSE: LXX) (the Company or Lexaria ) is pleased to
announce that the Australian Patent Office has granted patent #2015274698 which
protects Lexaria s method of improving absorption, speed of onset, and taste of
cannabinoid active agents in edible products. The term of the patent is 20 years
The issuance of this patent guards Lexaria s intellectual
property for the edible delivery of all non-psychoactive cannabinoids, including
those that are incidental but contributory to cannabis oils used in psychoactive
cannabinoid edibles. A wide variety of foods and beverage formats are covered,
including but not limited to: tea, coffee, cocoa powder, fresh foods and meats,
dairy products, pastas, breads, seeds, nuts, spices, herbs, candies, flavourings
One of Lexaria s core strategies is to develop and solidify key
IP applicable to different economic sectors within specific market jurisdictions
domestically and abroad, as a pre-requisite to developing revenue-producing
business operations linked thereto.
We are very pleased to have received this patent which
effectively covers all cannabis oil extract formulated edibles utilizing our
technology in Australia, states Lexaria CEO Chris Bunka. This patent award
allows us to confidently enter the recently legalized Australian cannabis
marketplace where we will seek additional licensing and product distribution
partnering opportunities.
A patent granting the same set of claims was granted in the USA
in October, 2016. Lexaria expects additional progress on its extensive patent
portfolio through the balance of 2017 and in 2018.
Separately, the Company announces it has received
US$6,250.75 from the exercise of 27,500 stock options previously granted
with an exercise price of US$0.2273. These options were exercised by a third
party who is neither an officer nor director of the Company.
No commissions or placement fees have been paid related to the
funds received from this option exercise. 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 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
For regular updates, connect with Lexaria on Facebook (https://www.facebook.com/Lexaria-Corp-106280556370600/)
and Twitter (https://twitter.com/lexariacorp)
FOR FURTHER INFORMATION PLEASE CONTACT:
Alex Blanchard, Communications Manager
NewworkNewWire (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.