Lexaria Bioscience Corp.’s (CSE: LXX) (OTCQX: LXRP) Private Placement Raises Gross Proceeds of $1.5M; Funds Allocated for Canadian Lab, R&D

November 8, 2018
  • Increased size of non-brokered private placement raises gross proceeds of $1,515,440, to be used to fund construction of new Canadian lab, LXRP’s R&D and general corporate purposes
  • LXRP has received two new U.S. patents related to cannabinoid infused beverage compositions using DehydraTECH; the company is a drug delivery innovator
  • The company has expanded its IP portfolio, giving it a total of 10 patents in its first family in the U.S. and Australia; it has 50 patent applications globally and out-licenses its technology

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) has raised, in a non-brokered private placement, a total of $1,515,440. Net proceeds will be used for construction of a new lab in Canada, LXRP-driven R&D and general corporate purposes. The offering consists of 947,150 units at an issue price of $1.60 per unit (http://nnw.fm/g81uD). Lexaria, due to strong demand, increased the size of the placement.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant shall entitle the holder to acquire one common share of LXRP at a price of $2.25 per common share for a…

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