LEXARIA BIOSCIENCE CORP. (OTCMKTS:LXRP) Files An 8-K Unregistered Sales of Equity Securities

LEXARIA BIOSCIENCE CORP. (OTCMKTS:LXRP) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02        Unregistered Sales of Equity Securities

On April 3, 2017 Lexaria Bioscience Corp. (the “Company” or “Lexaria”) completed a brokered private placement of 4,104,280 units of the Company (“Units”) at a price per Unit of US$0.42 (the “Offering Price”), for total gross proceeds of US$1,723,798 (the “Offering”). Each Unit consists of one common share (a “Share”) and one-half of one Share purchase warrant (each whole Share purchase warrant, a “Warrant”). Each Warrant entitles the holder to acquire one Share at a price of US$0.60 per Share for a period of 24 months following the closing of the Offering.

The Offering was led by Eight Capital, on behalf of a syndicate of agents including Haywood Securities Inc. and Echelon Wealth Partners (collectively, the “Agents”). Borden Ladner Gervais LLP acted as Agents’ counsel with respect to the Offering.

The Agents received a cash commission of seven percent of the gross proceeds and 287,300 compensation units. Each compensation unit is exercisable for a period of 24 months following closing at an exercise price of US$0.42 and consists of one common share (a “Compensation Share”) and one half of one common share purchase warrant (a “Compensation Warrant”). Each Compensation Warrant is exercisable for one common share (each, a “Compensation Warrant Share”) at an exercise price of US$0.60 for a period of 24 months following closing.

The net proceeds of the Offering will be used to fund the Company’s research collaboration with National Research Council Canada; other Lexaria-developed R&D related to the delivery and bioavailability of cannabis, vitamins, NSAIDs and nicotine; and working capital and general corporate purposes.

The securities referred to herein have been issued in an offshore transaction to persons who are not U.S. Persons (as that term is defined in Regulation S of the United States Securities Act of 1933) to Regulation S under the United States Securities Act of 1933, as amended and are subject to a hold period in Canada of four months and one day.

The securities referred to herein have not been, nor will they be, 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 the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.


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 down -0.015 at 0.435 with 104,422 shares trading hands.

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