Lexaria Enters Memorandum of Understanding Establishing a Joint Venture with NeutriSci International Inc. Kelowna, BC /

Lexaria Enters Memorandum of Understanding

Establishing a Joint Venture with NeutriSci International Inc.

Kelowna, BC / November 22, 2016 / Lexaria Bioscience Corp.

(OTCQB:LXRP) (CSE:LXX) (the Company or Lexaria ) and NeutrisSci International

Inc. ( Neutrisci ) (TSX-V:NU, Frankfurt-1N9) are pleased to announce the signing

of a Memorandum of Understanding forming a 50/50 Joint Venture (the JV ) to

develop, produce and sell a line of healthy edible cannabinoid products using

Lexaria s patented technology and Neutrisci s proprietary pterostilbene tablet

formula and international distribution network.

NeutriSci specializes in innovative nutraceutical products and

this JV expects to combine Lexaria s patented technology for improved taste and

absorption with NeutriSci s proprietary sublingual zero-sugar tablet form factor

to create new cannabinoid edible products. NeutriSci also has significant

product distribution networks that already include national and regional

Lexaria s taste and absorption technology acting on cannabidiol

(CBD)-rich full spectrum hemp oil blended into NeutriSci s pterostilbene tablet

formula could be warmly received by health conscious consumers, and is already

federally legal in the United States. Additional product offerings will also be

tested under the JV, which will include other cannabinoids including

tetrahydrocannabinol (THC).

The JV parties expect to commercialize any newly created

cannabinoid edible products through distribution programs with existing

This JV is a demonstration of the rapid innovation occurring

in the cannabis industry, commented Chris Bunka, Lexaria CEO. We are excited

to explore the potential to use our technology to develop healthy cannabinoid

products which could be a natural fit within NeutriSci s distribution network.

We were immediately intrigued when we were approached with the

idea of using our tablet and form factor to create a new line of zero-sugar and

dose controlled cannabinoid edible products, commented Glen Rehman, NeutriSci

president. By combining Lexaria s technology to mask strong tastes and increase

bioavailability, this JV has the potential to create a whole new line of healthy

cannabinoid edible products, which we expect will have high appeal to today s

health conscious medicinal consumers and recreational users.

State referendum voting outcomes from the November 8 elections

have created a state-legal cannabis market widely expected to reach $20 billion

within the next four years, one of the fastest growing industries in the

Lexaria Bioscience Corp. is a food

biosciences company with a proprietary 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 masking 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.

NeutriSci specializes in the

innovation, production and formulation of nutraceutical products. Established in

2009, NeutriSci has focused on the development of several breakthrough

nutraceutical products with an initial focus on areas such as heart and

cholesterol health, sleep deprivation therapies, immune defense as well as men's

prostate and sexual health. NeutriSci continues to build strong relationships

and distribution channels for its BluScience and NeuEnergy products with

retailers throughout the United States. NeutriSci is focusing efforts in

strengthening sustainable sales models with Convenience, Chain Drug, and Mass

Market and Supermarket retailers.

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, including

but not limited to: any revenue or license fee payments that may be realized

from license agreements, the introduction of any product lines that are derived

from license agreements, that license arrangements may be entered into with

other companies or partners, 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 or as

a result of the granted patent. 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;