Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Proceeding with Reorgani-zation into Four Subsidiaries

July 23, 2018 10:33:30
  • LXRP’s patented DehydraTECH technology will be employed by each wholly owned subsidiary, with applications applied to the industry segments
  • At its 2018 Annual General and Special Meeting (AGM), all motions were passed, including election of board members and approval of its conversion plan
  • Move to convert the company from a U.S.-based firm to Canada-based is placed on ‘indefinite hold’ due to inequitable tax treatment issue; LXRP to seek a resolution

At Lexaria Bioscience Corp.’s (CSE: LXX) (OTCQX: LXRP) 2018 Annual General Meeting, all motions were passed. The company is proceeding on schedule with its reorganization into four new wholly owned subsidiaries to serve the nicotine, hemp, pharmaceutical and cannabis industries. All of these subsidiaries will utilize the company’s patented DehydraTECH® proprietary absorption technology for application to their own sectors (http://nnw.fm/5NnGk). The company said that the reorganization will assist in the growth and evolution of each of the four subsidiaries, including, but not limited to, the areas of research, development and finance.

Also during the annual meeting, Chris Bunka, John Docherty, Nick Baxter and Ted McKechnie won election as directors. In addition, the appointment of auditors was…

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