LEXARIA BIOSCIENCE CORP. (OTCMKTS:LXRP) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02 Unregistered Sales of Equity Securities
Lexaria has received US$349,223.44from the exercise of warrants and options previously granted. The options were exercised at the price of US$0.2273 and 110,000 common shares are being issued. The Company has also received for exercise a total of 542,332 warrants previously granted; being 6,532 broker warrants @ US$0.42 and 535,800 warrants @ US$0.60. The warrant and option exercises are by third parties who are neither an officer nor a director of the Company.
3,266 new warrants are issued related to the exercise of the broker warrants, each warrant good to buy one common share at a price of US$0.60 until April 3, 2019.
No commissions or placement fees have been paid related to the funds received from these warrants exercised. Proceeds will be used for general corporate purposes.
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.
The Company separately announces that it has engaged JGRNT Capital Corp to provide strategic consulting services to the Company for a one-year term with base compensation set at CDN$1,000 monthly and the awarding of 500,000 warrants, each valid to purchase one common share at a price of US$1.83 and valid for two years.
Item 7.01 Regulation FD Disclosure
A copy of the news release announcing that Lexaria has received US$349,223.44from the exercise of a warrants and options previously granted is filed as exhibit 99.1 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 SERVICES AGREEMENT THIS AGREEMENT dated for reference the 17th day of January,…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.