LEXARIA BIOSCIENCE CORP. (OTCMKTS:LXRP) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities
On January 26, 2017 Lexaria Bioscience Corp. (the Company or
Lexaria) has announced it has received US$1,540 for the exercise
of 11,000 existing warrants prices at US$0.14. The Company has
also settled debt of US$12,000 through the issuance of 35,294
shares at a deemed price of US$0.34. 200,000 stock options have
been granted to Mr. Spissinger with an exercise price of US$0.37.
No commissions or placement fees have been paid related to the
funds received from this warrant exercise. 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.
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Item 5.02. Departure of Directors or Principal Officers;
Election of Directors; Appointment of Principal
Effective June 1, 2017, Allan Spissinger was appointed the new
acting CFO, Secretary and Treasurer. Allan Spissinger was
involved in the information technologies (IT) sector for more
than 10 years working on corporate IT infrastructure and software
development projects before focusing on finance and accounting.
Allan joined the audit and assurance practice of
PricewaterouseCoopers (PwC) obtaining his Chartered Professional
Accountant (CPA) designation by working primarily in the public
company space on financial reporting and Sarbanes-Oxley (SOX)
compliance in sectors including resources, manufacturing and
technologies.
Allan has managed private businesses for 20 years before joining
Lexaria in September 2014 as its corporate controller and is
intimately familiar with its operations, procedures and controls.
Item 7.01 Regulation FD Disclosure
A copy of the news release announcing that Lexaria has appointed
Allan Spissinger as the new acting CFO, Secretary and Treasury 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 June 5, 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.
