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Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Expands Patent Portfolio, Announces Exercise of 450,000 Existing Warrants

  • LXRP, a drug delivery platform innovator, has been awarded two new patent grants in the U.S. and expects three more from Australia
  • Company already has more than 40 patent awards or applications from 40 countries globally; it is preparing new patent application filings and predicts more patent awards this year
  • LXRP received $63,000 from the exercise of 450,000 warrants previously granted to third parties

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) is growing its patent portfolio with two more patent grants in the U.S., predicting three more from Australia, and it is currently preparing new patent application filings as it projects more patent awards this year. It already has more than 40 patent applications or awards from more than 40 countries worldwide (http://nnw.fm/cj1KT).

The total, once granted, would be four patents in the U.S. and four in Australia. All eight are for the family of “Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof.” The development represents the first time that LXRP has expanded its patent protection outside of the U.S. for the delivery of molecules other than cannabinoids.

The goals are to commercialize its proprietary technology while guarding its IP, LXRP said. It anticipates receiving three additional Australian patents on or before August 17. It also predicts that it will receive more patent awards this year, and it is currently preparing new patent filings for new families as a result of its R&D programs.

LXRP is a British Columbia-based bioscience company that is a drug delivery platform innovator. It out-licenses its disruptive delivery technology that promotes healthier ingestion methods and lower overall dosing. It has developed the patented DehydraTECH™ delivery technology platform.

LXRP also received $63,000 from the exercise of 450,000 previously granted warrants (http://nnw.fm/ecS84). The exercise price was $0.14, and it was executed by third parties who are neither officers nor directors of the company. Funds will be used for general corporate purposes, and no commissions or placement fees have been paid.

LXRP also entered a three-year consulting contract for services, including customer relations and introductions, involvement at industry events and presentation of the company’s proprietary technology to prospective clients. The contract calls for a one-time payment of $500 and the granting of 250,000 warrants with an exercise price of $1.55. No shares are being issued at this time, and the warrants expire three years after issuance.

For more information, visit the company’s website at www.LexariaEnergy.com

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