LEXARIA BIOSCIENCE CORP. (OTCMKTS:LXRP) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
On July 30, 2018, Lexaria announced that they have signed a Definitive Agreement with Hill Street Beverages Co. to license Lexaria’s DehydraTECHTM, on a semi-exclusive basis, for a term of five (5) years, to produce a line of cannabis-infused alcohol-free beverages for Canadian distribution, following regulatory approval. The Definitive Agreement is the conclusion of the process begun following the announcement of the non-binding letter of intent in April 2018.
US$56,250 (CDN$ 73,497), representing a portion of the compensation payable to Lexaria, shall be paid and satisfied in common shares in the capital of Hill Street, at a purchase price of CDN$0.175, for an aggregate of 419,982 common shares (the “Compensation Shares”). The issuance of the Compensation Shares is subject to regulatory approval, including without limitation, the approval of the TSX Venture Exchange.
Item 7.01 Regulation FD Disclosure
A copy of the news release announcing that Lexaria has signed a Definitive Agreement with Hill Street Beverage Co. is filed as exhibit 99.1 to this current report and is hereby incorporated by reference.
A copy of the news release announcing that Lexaria has announced significant bioavailability results from its randomized, placebo-controlled, double-blind European human clinical study is filed as exhibit 99.2 to this current report and is hereby incorporated by reference.
Item 9.01 Financial Statements and Exhibits
Lexaria Bioscience Corp. ExhibitEX-10.1 2 exhibit10-1.htm EXHIBIT 10.1 Lexaria Bioscience Corp. – Exhibit 10.1 – Filed by newsfilecorp.com Exhibit 10.1 INTELLECTUAL PROPERTY LICENSE#2018CD06 This document certifies that an Intellectual Property License dated as of July 30,…To view the full exhibit click here
About LEXARIA BIOSCIENCE CORP. (OTCMKTS:LXRP)
Lexaria Bioscience Corp., formerly Lexaria Corp., is a food sciences company. The Company is focused on the delivery of cannabinoid compounds procured from legal, agricultural hemp, through gourmet foods based upon its infusion technologies. Its food sciences activities include the development of its nutrient infusion technologies for the production of superfoods, and the production of food products under its two consumer product brands, ViPova and Lexaria Energy. Its technology is developed to aid absorption and bioavailability of various payload molecules, including cannabinoids, such as cannabidiol (CBD) and tetrahydrocannabinol (THC). Its range of flavors to the ViPova family, are available in 8 to 32 bag portions: Decaf English Breakfast, Earl Grey, Herbal Bengal Chai, Herbal Cherry Black Tea, Herbal Masala Chai, Low-Caf Organic Evening Green Tea and ViPova Light. It produces and sells edible consumer products infused with cannabidiol and available for sale in over 50 states.
