Monday, December 17, 2018

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://nnw.fm/sUV2z). 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
More from NetworkNewsWire
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive instant SMS alerts, text STOCKS to 77948
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

No comments:

Post a Comment