Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP) this morning announced the creation of four new wholly-owned subsidiary companies: Lexaria CanPharm Corp., a Canadian company that provides DehydraTECH technology and other enhancements to the global cannabis industry; Lexaria Nicotine Corp., a US company with a global license to offer DehydraTECH technology to the global nicotine and tobacco industries; Lexaria Hemp Corp., a US company globally licensed to provide DehydraTECH to the burgeoning hemp-based foods and supplements industries; and Lexaria Pharmaceutical Corp., a US company internationally authorized to license DehydraTECH to the pharmaceutical sector, including pain relief, vitamins, hormone treatments, central nervous system conditions and more. To greater engage with the separate customer bases and business applications for each subsidiary, this new corporate structure enables Lexaria to focus its future research, potential financing structures and industry partnerships on options specifically suited for each new subsidiary. The company also plans to use wholly-owned Poviva Tea Corp. to advance the current ViPova Tea and Coffee consumer brands. In addition, Lexaria announced that it has received $33,000 from the exercise of 330,000 options at the price of $0.10 previously granted to a third party. The proceeds will be used for general corporate purposes.
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About Lexaria Bioscience Corp.
Lexaria Bioscience Corp. licenses disruptive patented 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 DehydraTECH™ 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. For more information, visit the company’s website at www.LexariaBioscience.com.
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