VANCOUVER, BC--(Marketwired - June 22, 2017) - Lexaria Bioscience Corp. (LXRP) (CSE:LXX) (the "Company" or "Lexaria") announces the filing of a new provisional patent application and stock and option awards.
Lexaria has successfully filed a new provisional patent application with the US Patent and Trademark Office ("USPTO"), No. 62/519,511, with a filing date of June 14, 2017. The new patent application expands Lexaria's lipophilic food and beverage composition claims to now include microwave (dielectric energy) processing as well as heating/dehydration in a vacuum environment.
The patent application covers processing of cannabinoids, vitamins, NSAIDs and nicotine. The acceptance by the USPTO of this new application is another step in Lexaria's process of continually strengthening its intellectual property portfolio utilizing all of the most commonly used food processing techniques available. Lexaria believes its current cannabinoid-related patent portfolio to be the broadest of any comparable company in North America.
Separately, Lexaria has engaged a new Manager of Corporate Communications who is being awarded 200,000 stock warrants priced at US$0.295 which expire on June 21, 2019. The Manager of Corporate Communications is also receiving 300,000 stock options priced at US$0.295 that expire on June 21, 2022, and which vest as to 100,000 on each of June 22, 2018; June 22, 2019; and June 21, 2020.
Lexaria is awarding 50,000 stock options to each of two long-standing consultants that vest immediately and expire on June 21, 2022. The options are priced at US$0.295.
Lexaria is awarding 210,000 restricted common shares to each of two officers who have met intellectual property performance thresholds within their existing consulting contracts with the Company.
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.
Lexaria has 19 patent applications filed and pending in more than 40 countries worldwide.
Lexaria Bioscience Corp. is a biosciences company with a proprietary technology for improved delivery of bioactive compounds. The Company's lipophilic enhancement technology has been proven to enhance the bioavailability of orally ingested cannabinoids, while also improving taste. This technology promotes healthy ingestion methods, lower overall dosing and higher effectiveness in active molecule delivery. The Company's technology is patent-protected for cannabidiol (CBD) and all other non-psychoactive cannabinoids, and patent-pending for Tetrahydrocannabinol (THC), other psychoactive cannabinoids, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.
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, including but not limited to: that any additional stock warrants or stock options will be exercised. 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. 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, the patent application and approval process and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that existing capital is sufficient for the Company's needs or that it will be able to raise additional capital. There is no assurance that Lexaria will successfully complete any other contemplated or existing technology license agreements; or that results from any studies will be favorable or in any way support future business activities of any kind. 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 of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria Energy Foods, Amarii, and ViPova™ 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.