LEXARIA BIOSCIENCE CORP. (OTCMKTS:LXRP) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02
| Unregistered Sales of Equity Securities |
On February 17, 2017, Lexaria Bioscience Corp. (the Company or
Lexaria) announced it has received US$57,001.80 from the exercise
of stock options previously granted. The stock options were
exercised at prices of US $0.14 and US$0.2273 for a total of
366,000 common shares being issued. All options are being
exercised by third parties who are neither officers nor directors
of the Company.
As per a contract entered in July 2016, the Company is obligated
to pay a US$4,000 monthly fee to a director. The Company and the
director have agreed to settle the outstanding amount of
US$16,000 for the four months to February 28, 2017 through the
issuance of 29,091 restricted common shares.
No commissions or placement fees have been paid related to the
funds received from this option exercise. Proceeds will be used
for general corporate purposes.
– 2 –
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.
| Item 7.01 | Regulation FD Disclosure |
A copy of the news release announcing that Lexaria has received
US$57,001.80 from the exercise of stock 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 |
| 99.1 | Press Release dated February 17, 2017 |
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. LEXARIA BIOSCIENCE CORP. (OTCMKTS:LXRP) Recent Trading Information
LEXARIA BIOSCIENCE CORP. (OTCMKTS:LXRP) closed its last trading session up +0.010 at 0.490 with 364,907 shares trading hands.
