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Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Hires Key Personnel, Plans to Expand Lab Staff for R&D in 2019 and Issues Stock Options

  • LXRP is putting its growth plan into effect, adding a new corporate controller, a head of its legal division and more office staff; in 2019, it will also be increasing its lab personnel
  • As a result of the latest positions created, the company is issuing 240,000 new stock options with an exercise price of $1.06 that will vest as to 80,000 per year until April 15, 2021
  • LXRP has a growing IP portfolio of 10 patents granted in the U.S. and Australia; it has filed for more than 50 patents worldwide across 10 patent families

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP), a drug delivery platform innovator, has announced aggressive growth plans, including the addition of key personnel, a special focus on its lab R&D activities in 2019 and the issue of new stock options.

It has added a new corporate controller, a head of its legal division and additional office staff. In addition, LXRP anticipates adding more lab personnel next year as it intensifies its R&D activities. As a result of the latest positions created, LXRP is issuing 240,000 new stock options with an exercise price of $1.06 that will vest as to 80,000 per year until April 15, 2021, it announced.

Based in British Columbia, Canada, LXRP is a biotechnology company that out-licenses its disruptive delivery technology that promotes healthier ingestion methods. LXRP holds a patent for oral delivery of all cannabinoids and has a growing IP portfolio. DehydraTECH is its proprietary absorption technology platform.

LXRP has received $110,000 from exercised warrants (http://cnw.fm/uTx6Y). The company has also received for exercise a total of 250,000 previously granted warrants with an exercise price of $0.44. Proceeds will be used for general corporate purposes, the company said. No commissions or placement fees were paid related to the funds received from these warrants. LXRP added that the warrants were exercised by third parties, not officers or directors of the company.

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

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