Legend Removal

The following information regarding legend removal is being provided for the convenience of shareholders of Lexaria Bioscience Corp. (the “Company”).  By providing this general information the Company is not providing legal advice or independent advice and strongly recommends that all shareholders receive independent legal advice to discover the particular circumstances related to their transactions.

Non-Affiliate Shareholders:

If you purchased common shares of the Company (the “Shares”) through a private placement offering, the Shares are “restricted securities” pursuant to Canadian and United States securities laws and restrictive legends (the “Legends”) will have been placed on the certificate(s) representing your shareholdings.

In order to remove the Legends from your common stock certificate(s) one of the following must have occurred:

Option 1.     The Company has filed a registration statement registering your Shares with the Securities Exchange Commission and, if so, a copy of the registration statement can be found at www.lexariabioscience.com/investors/legend-removal/; or at www.sec.gov/edgar.shtml


Option 2.     You have held the Shares for a minimum of six months but less than a year and anticipate effecting a resale of your Shares within 90 days of removing the Legends.  (Should a resale fail to occur within 90 days of the Legends’ removal, the Shares still registered in the name of the original shareholder will be required to be returned to Computershare Trust Company of Canada for replacement of the Legends); or


Option 3.     You have held the Shares for a minimum of one year.

For each option noted there is certain documentation that must be provided to Computershare Trust Company of Canada of 100 University Avenue, Toronto, ON  M5J 2Y1 so that the Legends removal request can be processed:

1) Only applicable if Shares are registered in the name of a broker. The broker will have its own form of representation letter that it will use.

For your convenience we are providing samples of the required documentation noted above.

It should be noted that, with respect to share purchase warrants (“Warrants”), the hold periods noted under Options 2 and 3 do not commence until the date that the shareholder exercises the Warrants and the underlying Shares are issued.

Affiliate Shareholders:

Any affiliate of the Company (director, officer or over 10% shareholder of the Company or a spouse or a relative residing in the same residence of such person) who is seeking information regarding legend removal should contact Vanessa Carle, Head of Legal, at [email protected] for assistance.