Lexaria Engages Respected Consulting and Finance Firms Kelowna, BC /

Lexaria Engages Respected Consulting and Finance Firms

Kelowna, BC / July 21, 2016 / Lexaria Bioscience Corp.

(OTCQB:LXRP) (CSE:LXX) (the Company ) is pleased to announce it has entered

into two agreements with highly respected New York based firms.

The first agreement is with PPMT Strategic Group, Inc, ( PPMT )

a strategic consulting group with widespread capabilities that include, Mergers

& Acquisitions advisory services, Sales and Marketing, Industry Partnering,

Compliance and Executive CFO services and much more. PPMT is expected to gain

access on behalf of Lexaria to potential industry partners in the sectors where

Lexaria s technology holds immense promise: such as generic vitamins and

supplements and pain medications, as well as other sectors.

PPMT offers a wide range of business advisory capabilities

designed to augment the management functions of Microcap Companies and their

Board of Directors. In entering this agreement Lexaria has significantly

enhanced its Management breath of expertise in a cost effective manner. Lexaria

expects PPMT to introduce the Lexaria Technology and Products to their network

of business relationships that are mutually beneficial and lead toward much

higher awareness and visibility for Lexaria s products and technology.

We are excited to work with the Lexaria team to accelerate the

introduction of their technology to the market. We believe that Lexaria

Technology has the potential to disrupt the nutraceutical and the OTC sectors.

said Wesley Ramjeet, CEO of PPMT Strategic Group.

The second agreement is with Terra Nova Capital Partners, Inc,

a boutique investment and merchant banking firm with global reach. Established

in 1999, the firm has led or participated in capital raises and/or financings of

over $465 million since 2003, and is a FINRA registered broker-dealer. Terra

Nova reaches a global network of over 28 countries and will be providing Lexaria

with advice, support and expertise with its capital needs for the 12-month term

Terra Nova is a leading advisor to micro-cap public companies

in private placements and other forms of company financing, and is part of the

Global Alliance Partners network which has collectively completed over $33

billion in over 1,000 corporate transactions.

We couldn t be more pleased than to be working with such

reputable and capable firms as Terra Nova and PPMT Group, said Chris Bunka, CEO

of Lexaria. These new relationships will strengthen Lexaria in many ways and

focus on immediate and achievable targets that will build our brands and our

PPMT will receive 250,000 restricted common shares as initial

payment under the agreement. PPMT will receive 250,000 warrants to purchase

common shares each month until the end of the agreement, with a fixed floor

price and otherwise subject to normal regulatory conditions.

The securities issued will be subject to a hold period for any

resales into the USA under Rule 144 of six months and one day. All share and

warrant issuances will be subject to normal regulatory approvals.

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. 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. www.lexariaenergy.com

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

any license arrangements may be entered into with other companies or partners,

that the Company s technology will prove to be beneficial to third parties or to

generate revenue for the Company. There is no assurance that the engagement of

PPMT Strategic Group Inc. will result in higher visibility or awareness of the

Company s products or technology. 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 engagement of consultants or participation in 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 engagement of consultants. There is no

assurance that existing capital is sufficient for the Company's needs or that it

will be able to raise additional capital despite the engagement of Terra Nova

Capital Partners. 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 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 definitive agreement will

be reached to license the Company s technology to any third party in return for

compensation. There is no assurance that the Company s competitive position,

financial leverage, or likelihood of receiving additional patent allowances will

be improved as a result of any potential future patent allowance by the USPTO.

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