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| 8-K - FORM 8-K - Lexaria Bioscience Corp. | form8k.htm |
Lexaria Issues Shares as per Management Contract
Kelowna, BC / August 17, 2015 / Lexaria, Corp. (OTCQB:LXRP) (CSE:LXX) (the “Company”) announces it has cancelled the 500,000 restricted common shares issued on July 22, 2015, as per an existing management consulting contract, to Docherty Management Limited.
In their place, 420,000 restricted common shares have been awarded to Docherty Management Limited as well as US$16,000 in order to compensate for the estimated tax burden of receiving restricted common shares that are not freely tradable.
All issued shares will be subject to a hold period, for any resale into the USA under Rule 144, of six months and one day. There are no proceeds received by the Company. The Issuance 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 Lexaria
Lexaria is a food sciences company focused on
the delivery of hemp oil compounds procured from legal, agricultural hemp,
through gourmet foods based upon its proprietary infusion technologies.
www.lexariaenergy.com
About ViPovaTM
ViPovaTM uses only
legal hemp oil extracts, grown from agricultural hemp in locations where it is
legal to do so, in ViPovaTM-branded tea. ViPovaTM uses its
patent-pending process to infuse concentrated amounts of hemp oil within lipids
in its tea, providing more bioactivity and comfort to the body during the
absorption process. Only ViPovaTM has this ground-breaking technology
for hemp oil/lipid infusion. www.vipova.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Corp.
Chris Bunka
Chairman & CEO
(250)
765-6424
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Access to capital, or lack thereof, is a major risk and there is no assurance that the Company will be able to raise required working capital. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that the medical marijuana, hemp oil sector, or alternative health businesses will provide any benefit to Lexaria, or that the Company will experience any growth through participation in these sectors. There is no assurance that existing capital is sufficient for the Company's needs or that it will need to attempt to raise additional capital. There is no assurance that any planned corporate activity, business venture, or initiative will be pursued, or if pursued, will be successful. There is no assurance that any hemp oil or cannabinoid-based product will promote, assist, or maintain any beneficial human health conditions whatsoever. There is no assurance that the cannabinoid/lipid infusion technology will provide any increase in bioavailability to any individual person. No statement herein has been evaluated by the Food and Drug Administration (FDA). ViPovaTM products are not intended to diagnose, treat, cure or prevent any disease.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.