Kelowna, British Columbia– August 15, 2019 – Lexaria Bioscience Corp. (OTCQX: LXRP) (CSE: LXX) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, is pleased to announce that four of its pending patent applications, via its wholly-owned subsidiary Poviva Corp., have now been granted. The four new patents granted are as follows:
The issuance of these four patents results in Lexaria’s total patents granted increasing to 15 with eight granted in the US and seven granted in Australia, along with roughly 60 patent applications pending throughout the world. The granted patents cover delivery of: cannabinoids such as THC and CBD; NSAIDs such as ibuprofen; nicotine; and vitamins.
With 15 patents already granted for the delivery of cannabinoids, Lexaria is one of the most patent-rich firms in the Western World for effective blood plasma delivery of cannabis-related compounds in the cannabis or hemp industries.
Lexaria continues to enhance its DehydraTECH™ technology and now, with its recently issued Health Canada cannabis research and development license, will accelerate its investigations with a variety of active pharmaceutical ingredients (“API’s”), including but not limited to cannabis related API’s, to further strengthen its patent portfolio.
Lexaria also announces the issuance of 550,000 incentive stock options (the “Options”) which are being issued pursuant to its equity incentive plan as approved by its shareholders on June 20, 2019 and registered with the Securities and Exchange Commission, including 100,000 issued to a Director and 450,000 issued to employees/consultants of the Company. The Options will be exercisable to purchase voting common shares of Lexaria (“Shares”) at a price of US$0.81 per Share, for a period of five years expiring on August 15, 2024. Any Shares issued pursuant to the exercise of the Options prior to December 16, 2019 shall bear the restrictive hold period legend prescribed by National Instrument 45-102 – Resale of Securities.
Lexaria Bioscience Corp. has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has multiple patents pending in over 40 countries around the world and has patents granted in the USA and in Australia for utilization of its DehydraTECHTM delivery technology. Lexaria’s technology provides increases in intestinal absorption rates; more rapid delivery to the bloodstream; and important taste-masking benefits, for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Bioscience Corp.
Alex Blanchard, Communications Manager
(250) 765-6424 ext. 202
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 patent protection will be realized or that patent achievements will deliver material results. 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 and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, 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 the Company will be capable of developing, marketing, licensing, or selling edible products containing cannabinoids, nicotine or any other active ingredient. There is no assurance that any planned corporate activity, scientific research or study, business venture, letter of intent, technology licensing pursuit, patent application or allowance, consumer study, or any 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-associated products are not intended to diagnose, treat, cure or prevent any disease.
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