Lexaria Bioscience Corp. (OTCQB:LXRP) (CSE:LXX) has retained Mackie Research Capital Corp. to provide market maintenance services for the company in compliance with regulatory guidelines. Mackie will trade shares of Lexaria on the Canadian Security Exchange for the purposes of maintaining a reasonable market and improving the liquidity of Lexaria’s shares.
The agreement is for an initial 3 1/2-month period and may be terminated at any time by Lexaria or Mackie. There are no performance factors contained in the agreement and Mackie will not receive any shares or options from Lexaria as compensation for the services it will render. Lexaria and Mackie are unrelated and unaffiliated entities, but Mackie may provide investment banking services to Lexaria and Mackie and/or its clients may have an interest, directly or indirectly, in the securities of Lexaria.
The Company has also engaged Boom Capital Markets Inc on a short term contract to provide business advisory services including marketing strategies and assistance in preparing presentation materials, dissemination of information, and other business and capital advisory services.
The Company is issuing 250,000 stock options to Boom Capital Markets with a strike price of US$0.14, valid for two years, and paying compensation of CDN$5,000/month.
As per a consulting contract signed March, 2015, the Company is issuing 252,000 restricted common shares and cash compensation of US$6,240 to a private company controlled by the President of Lexaria.
As per a consulting contract entered in July 2016, the Company has issued 750,000 warrants with an exercise price of US$0.14 and valid for five years, to Profit Planners Inc, in return for consulting services provided in August, September, and October 2016.
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 October 31 through the issuance of 114,286 restricted common shares.
The securities issued will be subject to a hold period in Canada of four months and one day, or for any resales into the USA under Rule 144, six months and one day. The Private Placement is subject to normal regulatory approvals.
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.
About Mackie Research Capital Corporation
Mackie is one of Canada’s largest independent full service investment firms, and proudly traces its roots back to 1921. Mackie is privately owned by many of its 300 employees. As a fully integrated national investment dealer, Mackie offers a full complement of capital markets and wealth management services to private clients, institutions, and growth companies. For further information, please contact Adam Smith at 416 860 7654.