Lexaria Bioscience Corp. Receives New Granted Patents Kelowna, British Columbia

Lexaria Bioscience Corp. Receives New Granted Patents

Kelowna, British Columbia May 23, 2018 Lexaria Bioscience

Corp. (OTCQX: LXRP) (CSE: LXX) (the Company or Lexaria ), a drug delivery

platform innovator, announces it has received notifications that it has received

two new US patents granted and additionally expects three new Australian patents

granted on or before August 17th.

Once granted, Lexaria will have 4 granted patents in the US and

4 granted patents in Australia. All eight of these patents are within Lexaria s

first patent family, Food and Beverage Compositions Infused With Lipophilic

Active Agents and Methods of Use Thereof , and significantly strengthen

Lexaria s intellectual property ( IP ) claims in the US and Australia.

Of note, the new Australian patents expand Lexaria s IP

protection to include the delivery of all cannabinoids, psychoactive and

non-psychoactive; nicotine; NSAIDs including but not limited to ibuprofen; and

fat-soluble vitamins such as vitamins A, D, E, and K. This represents the first

time that Lexaria has received patent protection for delivery of molecules other

than cannabinoids outside of the US.

Lexaria s patent portfolio continues to grow, now with more

than 40 patent applications or awards in over 40 countries around the world.

Additional new patent application filings for new patent families as a result of

R&D programs are currently being prepared and Lexaria continues to expect

further patent awards this year. As its patent portfolio expands, Lexaria will

be better able to commercialize its technologies and defend its intellectual

Separately, Lexaria announces it has received US$24,500

from the exercise of warrants previously granted. The Company has received

for exercise a total of 175,000 warrants with an exercise price of US$0.14,

previously granted. The warrant exercises are by a third party who is neither an

officer nor a director of the Company.

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

For regular updates, connect with Lexaria on Twitter (https://twitter.com/lexariacorp)

and on Facebook http://tinyurl.com/y8vzcaam

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 patent protection will be realized or that patent achievements

will deliver material results. 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, scientific discovery, 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 the Company will be capable of developing,

marketing, licensing, or selling edible products containing cannabinoids or any

other active ingredient. There is no assurance that any planned corporate

activity, scientific research or study, business venture, technology licensing

pursuit, patent application or allowance, consumer study, or any 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-associated 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.