Biotechnology company and drug delivery platform innovator Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP) today announced a multi-faceted expansion of its relationship with Hill Street Beverage Company Inc. (TSX.V: BEER). According to the update, the companies have entered into a 10-year Joint Manufacturing Partnership (“JMP”) to produce DehydraTECH(TM) commercial products under a new brand, which will be announced. The JMP will produce processed THC cannabis and/or CBD hemp powder for new consumer products under categories including, among others, tablets, capsules, or packets for sale in Canada and for export where permitted. Similar powders as a bulk ingredient for manufacturing processes will also be produced under the JMP for sale to other licensed producers seeking to use Lexaria’s advanced infusion technologies to create their own products for sale within Canada. “The new relationship between Hill Street Beverages, One Leaf, and Lexaria Bioscience marks the beginning of an unprecedented opportunity to deliver outstanding consumer experiences to cannabis consumers,” Lexaria Bioscience CEO Chris Bunka said in the news release. “We are delighted to be working with the astute branding and cannabis expertise of the Hill Street/OneLeaf alliance team and believe that Canadian and global cannabis consumers will benefit greatly.”
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About Lexaria Bioscience Corp.
Lexaria Bioscience Corp. licenses disruptive, patented-delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has multiple patents pending in over 40 countries around the world and has patents granted in the United States and Australia for utilization of its DehydraTECH delivery technology. Lexaria’s technology provides increases in intestinal absorption rates, more rapid delivery to the bloodstream, and important taste-masking benefits for orally administered bioactive molecules including cannabinoids, vitamins, nonsteroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules. For more information, visit the company’s website at www.LexariaBioscience.com.
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