-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 NOQWdMBcNDKN6scLQw4edA5PmJk5YixOx4bJn3ehwA+gORvssFqgczs4+bFcpjWG
 L8I3GfY7OYtf1M7N98A2Eg==

<SEC-DOCUMENT>0001204459-10-002180.txt : 20100913
<SEC-HEADER>0001204459-10-002180.hdr.sgml : 20100913
<ACCEPTANCE-DATETIME>20100913133730
ACCESSION NUMBER:		0001204459-10-002180
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20100913
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100913
DATE AS OF CHANGE:		20100913

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEXARIA CORP.
		CENTRAL INDEX KEY:			0001348362
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				202000871
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-52138
		FILM NUMBER:		101068818

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		604-602-1675

	MAIL ADDRESS:	
		STREET 1:		SUITE 604 - 700 WEST PENDER STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 1G8

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Lexaria Corp.
		DATE OF NAME CHANGE:	20051229
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<TEXT>
<HTML>
<HEAD>
   <TITLE>Lexaria Corp.: Form 8-K - Filed by newsfilecorp.com</TITLE>

</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><B><FONT size=5>UNITED STATES </FONT></B><BR><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT></B><BR><B>Washington, D.C.
20549 </B><BR></P>
<P align=center><B><FONT size=5>FORM 8-K </FONT></B></P>
<P align=center>Current Report <BR>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 </P>
<P align=center>Date of Report (date of earliest event reported): September 13,
2010 </P>
<P align=center><B><FONT size=5>LEXARIA CORP. </FONT></B><BR>(Exact name of
registrant as specified in its charter) <BR></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center>Nevada </TD>
    <TD align=center width="33%">000-52138 </TD>
    <TD align=center width="33%">20-2000871 </TD></TR>
  <TR vAlign=top>
    <TD align=center>(State or other jurisdiction of </TD>
    <TD align=center width="33%">(Commission File Number) </TD>
    <TD align=center width="33%">(IRS Employer Identification No.) </TD></TR>
  <TR vAlign=top>
    <TD align=center>incorporation) </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD></TR></TABLE>
<P align=center>#950 &#150; 1130 West Pender Street, Vancouver, British Columbia,
Canada V6E 4A4 </P>
<P align=center>Registrant's telephone number, including area code: (604)
602-1675 </P>
<P align=center>(Former name or former address, if changed since last report.)
</P>
<P align=justify>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions: </P>
<P align=justify>[&nbsp; ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425) </P>
<P align=justify>[ &nbsp;] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a -12) </P>
<P align=justify>[&nbsp; ] Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b)) </P>
<P align=justify>[ &nbsp;] Pre-commencement communications pursuant to Rule
13e-4(c) under Exchange Act (17 CFR 240.13e -4(c)) </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<P align=justify><B>Item 1.01 Entry into a Material Definitive Agreement
</B></P>
<P align=justify><B>Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant. </B></P>
<P align=justify>On September 13, 2010, Lexaria Corp. (the &#147;Company&#148;) entered
into three separate assignment agreements with0743608 BC Limited, solely owned
by Director/Officer of the Company; Emerald Atlantic LLC, solely owned by a
Director of the Company, and the Senior VP Business Development. (the
&#147;Assignees&#148;), whereby the Assignees have paid a fee of US$408,116.48 to earn a
24% share of the Company&#146;s gross non-perpetual 32% interest in the three oil
wells being drilled in Wilkinson County, Mississippi. A balance of $83,439.36,
which is outstanding, will be received by the Company in the month of September.
As a result of the three assignment agreements, Lexaria receives at no cost to
the company, a carried interest of 8% in these same rights and benefits. </P>
<P align=justify>The Company assigns, transfers and sets over to the Assignees,
all proportionate rights, interest and benefits in the Assigned Non Perpetual
Interest held by or granted to the Assignor in and to the Participation
Agreement between the Company and Griffin but limited to a gross 500% revenue
payout based on the total amount paid under the Initial Consideration and the
Subsequent Consideration after which all rights, interests and benefits cease.
</P>
<P align=justify>On September 13, 2010, we entered into a demand loan agreement
and promissory note with CAB Financial Services Ltd. (the &#147;Lender&#148;), a company
controlled by a director and officer of our company. The principal amount of the
note is US$90,000. The entering into of the loan agreement and promissory note
provides that the debt be payable on demand. The note is has an interest rate of
12% per annum. </P>
<P align=justify><B>ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. </B></P>
<P align=justify>(d) Exhibits.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center ><B>Exhibit No.</B> </TD>
    <TD align=left width="90%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B>Description</B> </TD></TR>
  <TR>
    <TD align=center bgcolor="#EEEEEE" >&nbsp;</TD>
    <TD align=left width="90%" bgcolor="#EEEEEE" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee ><a href="exhibit10-1.htm">10.1 </a> </TD>
    <TD align=left width="90%" bgColor=#eeeeee><a href="exhibit10-1.htm">Assignment Agreement between
      the Company and0743608 BC Limited dated September 13, 2010 </a> </TD></TR>
  <TR vAlign=top>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="90%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center ><a href="exhibit10-2.htm">10.2 </a> </TD>
    <TD align=left width="90%"><a href="exhibit10-2.htm">Assignment Agreement between the Company and
      Emerald Atlantic LLC dated September 13, 2010 </a> </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee >&nbsp;</TD>
    <TD align=left width="90%" bgColor=#eeeeee>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee ><a href="exhibit10-3.htm">10.3 </a> </TD>
    <TD align=left width="90%" bgColor=#eeeeee><a href="exhibit10-3.htm">Assignment Agreement between
      the Company and Senior VP Business Development dated September 13, 2010
    </a>
  </TD></TR>
  <TR vAlign=top>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="90%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center ><a href="exhibit10-4.htm">10.4 </a> </TD>
    <TD align=left width="90%"><a href="exhibit10-4.htm">Demand Loan Agreement between the Company and
      CAB Financial Services Ltd. Dated September 13, 2010 </a> </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee >&nbsp;</TD>
    <TD align=left width="90%" bgColor=#eeeeee>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee ><a href="exhibit99-1.htm">99.1 </a> </TD>
    <TD align=left width="90%" bgColor=#eeeeee><a href="exhibit99-1.htm">Press Release dated September
      13, 2010 </a> </TD></TR></TABLE>
<P align=justify>&nbsp;</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_3></A>
<P align=justify><B>SIGNATURES</B></P>
<P align=justify>Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P>
<P align=justify>Dated: September 13, 2010 </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >Lexaria Corp. </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >(Signature) </TD>
    <TD align=left
      width="90%">By:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&#147;<I>/s/ Chris
      Bunka&#148;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </I></U></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="90%">Chris Bunka </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="90%">President &amp; CEO </TD></TR></TABLE><BR>
<hr color="#000000" size="5">

</BODY>

</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit10-1.htm
<TEXT>
<HTML>
<HEAD>
   <TITLE>Lexaria Corp.: Exhibit 10.1 - Filed by newsfilecorp.com</TITLE>
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<!--$$/page=--><A name=page_1></A>
<P align=right><b>Exhibit 10.1</b></P>
<P align=center><B><U>ASSIGNMENT AGREEMENT</U></B><B> </B></P>
<P align=justify><B>THIS ASSIGNMENT</B> is made effective as of this
13<SUP>th</SUP> day of September, 2010 </P>
<P align=justify><B>BETWEEN</B>: </P>
<P style="MARGIN-LEFT: 5%" align=justify><B>LEXARIA CORP.</B>, a company
incorporated under the laws of the State of Nevada, having a business office at
#950 - 1130 West Pender, Vancouver, British Columbia, Canada V6E 4A4 </P>
<P style="MARGIN-LEFT: 5%" align=justify>(the &#147;<B>Assignor,</B>&#148; or,
&#147;<B>Lexaria</B>&#148;) </P>
<P align=justify><B>AND</B>: </P>
<P style="MARGIN-LEFT: 5%" align=justify><B>0743608 BC Ltd</B>, a business in
the Province of British Columbia having an address at Suite 1004, 1708 Dolphin
Ave, Kelowna BC V1Y 9S4 </P>
<P style="MARGIN-LEFT: 5%" align=justify>(the &#147;<B>Assignee</B>&#148;) </P>
<P align=justify><B>WHEREAS</B>:<B> </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">A. </TD>
    <TD colSpan=2>
      <P align=justify>The Assignor and the Assignee are in the business of
      natural resources exploration and development;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">B. </TD>
    <TD colSpan=2>
      <P align=justify>On or about July 29, 2010, the Assignor and the Asignee
      entered into an assignment agreement which, through the execution of this
      new Assignment Agreement dated September 13, 2010, is agreed by the
      Assignor and the Assignee to be null and void and with no further value or
      force;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">C. </TD>
    <TD colSpan=2>
      <P align=justify>Lexaria has entered into a farmout, option and
      participation letter agreement dated December 21, 2005 (the &#147;Head
      Agreement&#148;), a copy of which is attached as Exhibit I hereto, with Griffin
      &amp; Griffin Exploration L.L.C. (&#147;Griffin&#148;) with respect to the following
      property:</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Belmont Lake Field, Wilkinson County, Mississippi,
      Section 41-T2N-R4W</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD vAlign=top width="5%">D. </TD>
    <TD colSpan=2>
      <P align=justify>Lexaria currently has the right to earn:</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>A PERPETUAL 32% (gross) and 20.802815% (net) working
      interest in the Belmont Lake wells to be drilled and known as PP F-12-2;
      PP F-12-4; PP F-12- 5, and;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>An additional NON PERPETUAL 32% (gross) and 20.802815%
      (net) working interest in the Belmont Lake wells to be drilled and known
      as PP F-12-2; PP F- 12-4; PP F-12-5, until such time as the wells achieve
      500% revenue payout (as
more particularly described below), at which time this interest ceases as per the joint operating agreement (the &#147;Non Perpetual Interest&#148;). </P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>


<!--$$/page=-->
<A name="page_2"></A>

<TABLE BCLLIST style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD colspan=2>
&nbsp;</TD>
</TR>
<TR>
	<TD width=5% valign=top>
E. 	</TD>
	<TD colspan=2>
<P align="justify">On or about June 25, 2010, the Assignor entered into an Authorization For Expenditure agreement (the &#147;AFE&#148;) with Griffin, a copy of which is attached as Exhibit II hereto, to participate in the drilling and completion of
the PP F-12-2; PP F-12-4; PP F-12-5 wells by paying a 32% share of the costs of drilling and completing of the PP F-12-2; PP F-12- 4; PP F-12-5 wells as per the AFE; and</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
F. 	</TD>
	<TD colspan=2>
<P align="justify">The Assignee wishes to purchase from the Assignor and the Assignor wishes to sell to the Assignee a revenue interest of 48.73755% of a 32% share of the Assignor&#146;s net revenue after field operating expenses in the Non
Perpetual Interest from the PP F-12-2; PP F-12- 4; PP F-12-5 well (the &#147;Assigned Interest&#148;);</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
G. 	</TD>
	<TD colspan=2>
<P align="justify">In consideration for the Assigned Non Perpetual Interest the Assignee has agreed to pay to the Assignor:</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
<TD width=5%></TD>	<TD width=5% valign=top>
(a) 	</TD>
	<TD>
<P align="justify">64.98341% of the Assignor&#146;s Non Perpetual Interest costs currently budgeted at &#36;408,116.48 but subject to revision by Griffin, being an amount of US&#36;265,208.00 (the &#147;Initial Consideration&#148;) of which
US&#36;210,986.26 has already been paid; and</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
<TD width=5%></TD>	<TD width=5% valign=top>
(b) 	</TD>
	<TD>
<P align="justify">64.98341% of the Assignor&#146;s 32% share of the PP F-12-2; PP F-12-4; PP F-12-5 Non Perpetual Interest well costs from time to time for infrastructure, pipes, tanks, compressors, trucking, etc, as recommended for expenditure by
Griffin (the &#147;Subsequent Consideration&#148;); and,</P>
	</TD>
</TR>
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TR>
	<TD width=5% valign=top>
H. 	</TD>
	<TD colspan=2>
<P align="justify">Upon the terms and subject to the conditions set forth in this Assignment, the consent of Griffin with respect to the Assignment herein having been obtained, the Assignor wishes to assign and the Assignee wishes to accept the
assignment of the Assigned Non Perpetual Interest as shown above in and to the Participation Agreement.</P>
	</TD>
</TR>
</TABLE>
<P align="justify">
<B>NOW THEREFORE THIS AGREEMENT WITNESSES</B> that in consideration of covenants and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree each
with the other as follows: </P>
<TABLE BCLLIST style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
<TR>
	<TD width=5% valign=top>
1. 	</TD>
	<TD>
<P align="justify">The Assignor hereby assigns, transfers and sets over to the Assignee, effective as of the date hereof, all proportionate rights, interest and benefits in the Assigned Non Perpetual Interest held by or granted to the Assignor in
and to the Participation Agreement between the Assignor and Griffin but limited to a gross 500% revenue payout based on the total amount paid under the Initial Consideration and the Subsequent Consideration after which all rights, interests and
benefits cease; and details of which are referenced in the attached Exhibit II. The Assignee hereby acknowledges and agrees that the Assignor is making no representation or covenant as to whether any oil revenue will be recovered from the Assigned
Non Perpetual Interest.</P>
	</TD>
</TR>
</TABLE>
<BR>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">

<!--$$/page=--><A name=page_3></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>The Assignee hereby agrees to pay to the Assignor the
      Initial Consideration, within 5 days of the signing of this
    Assignment.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>The Assignee hereby agrees to pay to the Assignor the
      Subsequent Consideration as required and or demanded by the Assignor. In
      the event the Assignee does not provide the Subsequent Consideration
      within five (5) business days, Griffin shall withhold such amount of
      revenue from the Assigned Interest in order to satisfy the then amount
      outstanding of the Subsequent Consideration.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">4. </TD>
    <TD>
      <P align=justify>The Assignor warrants and represents to the Assignee that
      as of the date of this Assignment, the Participation Agreement is in full
      force and effect, without modification or amendment, that the Assignor has
      the full right and authority to assign the Assigned Interest and all of
      the Assigned Interest&#146;s rights, interest and benefits held by or granted
      to the Assignor in and to the Participation Agreement and that such
      rights, interest and benefits assigned to the Assignee herein are free of
      lien, encumbrance or adverse claim.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">5. </TD>
    <TD>
      <P align=justify>The Assignee hereby assumes and agrees to perform all
      obligations of the Assignor with respect to the Assigned Non Perpetual
      Interest under the Participation Agreement and guarantees to hold the
      Assignor harmless from any claim or demand of any kind made
    hereunder.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">6. </TD>
    <TD>
      <P align=justify>This Assignment shall be binding upon and inure to the
      benefit of the parties, their successors and assigns.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">7. </TD>
    <TD>
      <P align=justify>Each of the parties hereto will co-operate with the
      others and execute and deliver to the other parties hereto such other
      instruments and documents and take such other actions as may be reasonably
      requested from time to time by any other party hereto as necessary to
      carry out, evidence, and confirm the intended purpose of this
      Assignment.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">8. </TD>
    <TD>
      <P align=justify>This Assignment may not be amended except by an
      instrument in writing signed by each of the parties.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">9. </TD>
    <TD>
      <P align=justify>This Assignment and the Exhibit hereto contain the entire
      agreement between the parties with respect to the subject matter hereof
      and supercede all prior arrangements and understandings, both written and
      oral, express or implied, with respect thereto. Any preceding
      correspondence or offers are expressly superceded and terminated by this
      Assignment.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">10. </TD>
    <TD>
      <P align=justify>All notices and other communications required or
      permitted under this Assignment must be in writing and will be deemed
      given if sent by personal delivery, faxed with electronic confirmation of
      delivery, internationally recognized courier or registered or certified
      mail (return receipt requested), postage prepaid, to the parties at the
      following addresses (or at such other address for a party as will be
      specified by like notice):</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_4></A>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="33%">&nbsp;</TD>
    <TD align=left width="33%">&nbsp;</TD></TR>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>If to the Assignor: </TD>
    <TD align=left width="33%">If to the Assignee: </TD>
    <TD align=left width="33%">If to Griffin: </TD></TR></TABLE>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 8pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left><FONT size=2>950 - 1130 West Pender St. </FONT></TD>
    <TD align=left width="33%"><FONT size=2>#1004 &#150; 1708 Dolphin Ave
</FONT></TD>
    <TD align=left width="33%"><FONT size=2>LeFleur&#146;s Gallery </FONT></TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left><FONT size=2>Vancouver BC </FONT></TD>
    <TD align=left width="33%"><FONT size=2>Kelowna BC </FONT></TD>
    <TD align=left width="33%"><FONT size=2>P.O. Box 12274 </FONT></TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left><FONT size=2>V6E 4A4 </FONT></TD>
    <TD align=left width="33%"><FONT size=2>V1Y 9S4 </FONT></TD>
    <TD align=left width="33%"><FONT size=2>Jackson, MS, 39236 </FONT></TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left><FONT size=2>604.602.1633 ph </FONT></TD>
    <TD align=left width="33%"><FONT size=2>250 717 0377 ph </FONT></TD>
    <TD align=left width="33%"><FONT size=2>601.713.1146 ph </FONT></TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left><FONT size=2>604.602.1625 fax </FONT></TD>
    <TD align=left width="33%"><FONT size=2>250 717 0677 fax </FONT></TD>
    <TD align=left width="33%"><FONT size=2>601.713.1175 fax
  </FONT></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">11. </TD>
    <TD>
      <P align=justify>This Assignment will be governed by and construed in
      accordance with the laws of the Province of British Columbia, Canada as
      applicable to contracts made and performed therein.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">12. </TD>
    <TD>
      <P align=justify>This Assignment may be executed in one or more
      counterparts, all of which will be considered one and the same Assignment
      and will become effective when one or mare counterparts have been signed
      by each of the parties and delivered to the other parties, it being
      understood that all parties need not sign the same counterpart.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">13. </TD>
    <TD>
      <P align=justify>This Agreement may be executed by delivery of executed
      signature pages by fax and such fax execution will be effective for all
      purposes.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">14. </TD>
    <TD>
      <P align=justify>Time is of essence in this
Assignment.</P></TD></TR></TABLE>
<P align=justify><B>IN WITNESS WHEREOF </B>the parties have executed this
Assignment as of the day and year first above written. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>ASSIGNOR </B></TD>
    <TD align=left width="50%"><B>ASSIGNEE </B></TD></TR>
  <TR>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="50%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left><B>LEXARIA CORP. </B></TD>
    <TD align=left width="50%"><B>0743608 BC Ltd </B></TD></TR>
  <TR>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="50%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD
      align=left>Per:&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </U></TD>
    <TD align=left
      width="50%">Per:&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp;Authorized Signatory </TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;Authorized Signatory </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Name:&nbsp; Bal Bhullar </TD>
    <TD align=left width="50%">Name:&nbsp; Chris Bunka </TD></TR>
  <TR vAlign=top>
    <TD align=left>Title:&nbsp;&nbsp;&nbsp; CFO, Director </TD>
    <TD align=left width="50%">Title:&nbsp;&nbsp;&nbsp; President
  </TD></TR></TABLE><BR>
<hr color="#000000" size="5">

</BODY>

</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>exhibit10-2.htm
<TEXT>
<HTML>
<HEAD>
   <TITLE>Lexaria Corp: Exhibit 10-2 - Filed by newsfilecorp.com</TITLE>
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=right><B>Exhibit 10.2</B></P>
<P align=center><B><U>ASSIGNMENT AGREEMENT</U></B><B> </B></P>
<P align=justify><B>THIS ASSIGNMENT </B>is made effective as of this 13<SUP>th
</SUP>day of September, 2010 </P>
<P align=justify><B>BETWEEN</B>: </P>
<P style="MARGIN-LEFT: 5%" align=justify><B>LEXARIA CORP.</B>, a company
incorporated under the laws of the State of Nevada, having a business office at
#950 - 1130 West Pender, Vancouver, British Columbia, Canada V6E 4A4 </P>
<P style="MARGIN-LEFT: 5%" align=justify>(the &#147;<B>Assignor,</B>&#148; or,
&#147;<B>Lexaria</B>&#148;) </P>
<P align=justify><B>AND</B>: </P>
<P style="MARGIN-LEFT: 5%" align=justify><B>Emerald Atlantic, LLC</B>, a
business in the State of Texas, having an office at<B> </B>#11714 Spriggs Way,
Houston Texas 77024 </P>
<P style="MARGIN-LEFT: 5%" align=justify>(the &#147;<B>Assignee</B>&#148;) </P>
<P align=justify><B>WHEREAS</B>:<B> </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">A. </TD>
    <TD colSpan=2>
      <P align=justify>The Assignor and the Assignee are in the business of
      natural resources exploration and development;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">B. </TD>
    <TD colSpan=2>
      <P align=justify>On or about July 29, 2010, the Assignor and David
      DeMartini, who is the sole beneficiary and director of Emerald Atlantic
      LLC, entered into an assignment agreement which, through the execution of
      this new Assignment Agreement dated September 13, 2010, is agreed by David
      DeMartini, the Assignor and the Assignee to be null and void and with no
      further value or force;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">C. </TD>
    <TD colSpan=2>
      <P align=justify>Lexaria has entered into a farmout, option and
      participation letter agreement dated December 21, 2005 (the &#147;Head
      Agreement&#148;), a copy of which is attached as Exhibit I hereto, with Griffin
      &amp; Griffin Exploration L.L.C. (&#147;Griffin&#148;) with respect to the following
      property:</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Belmont Lake Field, Wilkinson County, Mississippi,
      Section 41-T2N-R4W</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD vAlign=top width="5%">D. </TD>
    <TD colSpan=2>
      <P align=justify>Lexaria currently has the right to earn:</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>A PERPETUAL 32% (gross) and 20.802815% (net) working
      interest in the Belmont Lake wells to be drilled and known as PP F-12-2;
      PP F-12-4; PP F-12- 5, and;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>An additional NON PERPETUAL 32% (gross) and 20.802815%
      (net) working interest the Belmont Lake wells to be drilled and known as
      PP F-12-2; PP F-12- 4; PP F-12-5, until such time as the wells achieve
      500% revenue payout (as more
particularly described below), at which time this interest ceases as per the joint operating agreement (the &#147;Non Perpetual Interest&#148;). </P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>


<!--$$/page=-->
<A name="page_2"></A>

<TABLE BCLLIST style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD colspan=2>
&nbsp;</TD>
</TR>
<TR>
	<TD width=5% valign=top>
E. 	</TD>
	<TD colspan=2>
<P align="justify">On or about June 25, 2010, the Assignor entered into an Authorization For Expenditure agreement (the &#147;AFE&#148;) with Griffin, a copy of which is attached as Exhibit II hereto, to participate in the drilling and completion of
the PP F-12-2; PP F-12-4; PP F-12-5 wells by paying a 32% share of the costs of drilling and completing of the PP F-12-2; PP F-12- 4; PP F-12-5 wells as per the AFE; and</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
F. 	</TD>
	<TD colspan=2>
<P align="justify">The Assignee wishes to purchase from the Assignor and the Assignor wishes to sell to the Assignee a revenue interest of 20.48748% of a 32% share of the Assignor&#146;s net revenue interest after field operating expenses in the Non
Perpetual Interest from PP F-12-2; PP F-12-4; and PP F-12-5 well (the &#147;Assigned Interest&#148;);</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
G. 	</TD>
	<TD colspan=2>
<P align="justify">In consideration for the Assigned Non Perpetual Interest the Assignee has agreed to pay to the Assignor:</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
<TD width=5%></TD>	<TD width=5% valign=top>
(a) 	</TD>
	<TD>
<P align="justify">27.31663% of the Assignor&#146;s Non Perpetual Interest costs currently budgeted at approximately &#36;408,116.48 but subject to revision by Griffin, being an amount of US&#36;111,483.68 (the &#147;Initial Consideration&#148;) of
which &#36;88,690.86 has already been received; and</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
<TD width=5%></TD>	<TD width=5% valign=top>
(b) 	</TD>
	<TD>
<P align="justify">27.31663% of the Assignor&#146;s 32% share of PP F-12-2; PP F-12-4; and PP F-12-5 Non Perpetual Interest well costs from time to time for infrastructure, pipes, tanks, compressors, trucking, etc, as recommended for expenditure by
Griffin (the &#147;Subsequent Consideration&#148;); and,</P>
	</TD>
</TR>
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TR>
	<TD width=5% valign=top>
H. 	</TD>
	<TD colspan=2>
<P align="justify">Upon the terms and subject to the conditions set forth in this Assignment, the consent of Griffin with respect to the Assignment herein having been obtained, the Assignor wishes to assign and the Assignee wishes to accept the
assignment of the Assigned Non Perpetual Interest as shown above in and to the Participation Agreement.</P>
	</TD>
</TR>
</TABLE>
<P align="justify">
<B>NOW THEREFORE THIS AGREEMENT WITNESSES</B> that in consideration of covenants and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree each
with the other as follows: </P>
<TABLE BCLLIST style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
<TR>
	<TD width=5% valign=top>
1. 	</TD>
	<TD>
<P align="justify">The Assignor hereby assigns, transfers and sets over to the Assignee, effective as of the date hereof, all proportionate rights, interest and benefits in the Assigned Non Perpetual Interest held by or granted to the Assignor in
and to the Participation Agreement between the Assignor and Griffin but limited to a gross 500% revenue payout based on the total amount paid under the Initial Consideration and the Subsequent Consideration after which all rights, interests and
benefits cease; and details of which are referenced in the attached Exhibit II. The Assignee hereby acknowledges and agrees that the Assignor is making no representation or covenant as to whether any oil revenue will be recovered from the Assigned
Non Perpetual Interest.</P>
	</TD>
</TR>
</TABLE>
<BR>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">

<!--$$/page=--><A name=page_3></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>The Assignee hereby agrees to pay to the Assignor the
      Initial Consideration, within 5 days of the signing of this
    Assignment.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>The Assignee hereby agrees to pay to the Assignor the
      Subsequent Consideration as required and or demanded by the Assignor. In
      the event the Assignee does not provide the Subsequent Consideration
      within five (5) business days, Griffin shall withhold such amount of
      revenue from the Assigned Interest in order to satisfy the then amount
      outstanding of the Subsequent Consideration.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">4. </TD>
    <TD>
      <P align=justify>The Assignor warrants and represents to the Assignee that
      as of the date of this Assignment, the Participation Agreement is in full
      force and effect, without modification or amendment, that the Assignor has
      the full right and authority to assign the Assigned Interest and all of
      the Assigned Interest&#146;s rights, interest and benefits held by or granted
      to the Assignor in and to the Participation Agreement and that such
      rights, interest and benefits assigned to the Assignee herein are free of
      lien, encumbrance or adverse claim.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">5. </TD>
    <TD>
      <P align=justify>The Assignee hereby assumes and agrees to perform all
      obligations of the Assignor with respect to the Assigned Non Perpetual
      Interest under the Participation Agreement and guarantees to hold the
      Assignor harmless from any claim or demand of any kind made
    hereunder.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">6. </TD>
    <TD>
      <P align=justify>This Assignment shall be binding upon and inure to the
      benefit of the parties, their successors and assigns.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">7. </TD>
    <TD>
      <P align=justify>Each of the parties hereto will co-operate with the
      others and execute and deliver to the other parties hereto such other
      instruments and documents and take such other actions as may be reasonably
      requested from time to time by any other party hereto as necessary to
      carry out, evidence, and confirm the intended purpose of this
      Assignment.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">8. </TD>
    <TD>
      <P align=justify>This Assignment may not be amended except by an
      instrument in writing signed by each of the parties.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">9. </TD>
    <TD>
      <P align=justify>This Assignment and the Exhibit hereto contain the entire
      agreement between the parties with respect to the subject matter hereof
      and supercede all prior arrangements and understandings, both written and
      oral, express or implied, with respect thereto. Any preceding
      correspondence or offers are expressly superceded and terminated by this
      Assignment.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">10. </TD>
    <TD>
      <P align=justify>All notices and other communications required or
      permitted under this Assignment must be in writing and will be deemed
      given if sent by personal delivery, faxed with electronic confirmation of
      delivery, internationally recognized courier or registered or certified
      mail (return receipt requested), postage prepaid, to the parties at the
      following addresses (or at such other address for a party as will be
      specified by like notice):</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_4></A>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="33%">&nbsp;</TD>
    <TD align=left width="33%">&nbsp;</TD></TR>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>If to the Assignor: </TD>
    <TD align=left width="33%">If to the Assignee: </TD>
    <TD align=left width="33%">If to Griffin: </TD></TR></TABLE>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 8pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left><FONT size=2>950 - 1130 West Pender St. </FONT></TD>
    <TD align=left width="33%"><FONT size=2>#11714 Spriggs Way </FONT></TD>
    <TD align=left width="33%"><FONT size=2>LeFleur&#146;s Gallery </FONT></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left><FONT size=2>Vancouver BC </FONT></TD>
    <TD align=left width="33%"><FONT size=2>Houston Texas </FONT></TD>
    <TD align=left width="33%"><FONT size=2>P.O. Box 12274 </FONT></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left><FONT size=2>V6E 4A4 </FONT><FONT size=2></FONT></TD>
    <TD align=left width="33%"><FONT size=2>77024 </FONT></TD>
    <TD align=left width="33%"><FONT size=2>Jackson, MS, 39236 </FONT></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left><FONT size=2>604.602.1633 </FONT><FONT size=2>ph </FONT></TD>
    <TD align=left width="33%"><FONT size=2>281-925-0172 ph </FONT></TD>
    <TD align=left width="33%"><FONT size=2>601.713.1146 </FONT><FONT
      size=2>ph </FONT></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left><FONT size=2>604.602.1625 </FONT><FONT size=2>fax
</FONT></TD>
    <TD align=left width="33%"><FONT size=2><U>dcd@att.net </U>email
</FONT></TD>
    <TD align=left width="33%"><FONT size=2>601.713.1175 </FONT><FONT
      size=2>fax </FONT></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">11. </TD>
    <TD>
      <P align=justify>This Assignment will be governed by and construed in
      accordance with the laws of the Province of British Columbia, Canada as
      applicable to contracts made and performed therein.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">12. </TD>
    <TD>
      <P align=justify>This Assignment may be executed in one or more
      counterparts, all of which will be considered one and the same Assignment
      and will become effective when one or mare counterparts have been signed
      by each of the parties and delivered to the other parties, it being
      understood that all parties need not sign the same counterpart.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">13. </TD>
    <TD>
      <P align=justify>This Agreement may be executed by delivery of executed
      signature pages by fax and such fax execution will be effective for all
      purposes.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">14. </TD>
    <TD>
      <P align=justify>Time is of essence in this
Assignment.</P></TD></TR></TABLE>
<P align=justify><B>IN WITNESS WHEREOF </B>the parties have executed this
Assignment as of the day and year first above written. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>ASSIGNOR </B></TD>
    <TD align=left width="50%"><B>ASSIGNEE </B></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left><B>LEXARIA CORP. </B></TD>
    <TD align=left width="50%"><B>EMERALD ATLANTIC LLC </B></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD
      align=left>Per:&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </U></TD>
    <TD align=left
      width="50%">Per:&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </U></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp;Authorized Signatory </TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;Authorized Signatory </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Name: Bal Bhullar </TD>
    <TD align=left width="50%">Name: David DeMartini </TD></TR>
  <TR vAlign=top>
    <TD align=left>Title: CFO, Director </TD>
    <TD align=left width="50%">Title: President </TD></TR></TABLE><BR>
<hr color="#000000" size="5">

</BODY>

</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exhibit10-3.htm
<TEXT>
<HTML>
<HEAD>
   <TITLE>Lexaria Corp: Exhibit 10.3 - Filed by newsfilecorp.com</TITLE>
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=right><B>Exhibit 10.3</B></P>
<P align=center><B><U>ASSIGNMENT AGREEMENT</U></B><B> </B></P>
<P align=justify><B>THIS ASSIGNMENT </B>is made effective as of this 13<SUP>th
</SUP>day of September, 2010 </P>
<P align=justify><B>BETWEEN</B>: </P>
<P style="MARGIN-LEFT: 5%" align=justify><B>LEXARIA CORP.</B>, a company
incorporated under the laws of the State of Nevada, having a business office at
#950 - 1130 West Pender, Vancouver, British Columbia, Canada V6E 4A4 </P>
<P style="MARGIN-LEFT: 5%" align=justify>(the &#147;<B>Assignor,</B>&#148; or,
&#147;<B>Lexaria</B>&#148;) </P>
<P align=justify><B>AND</B>: </P>
<P style="MARGIN-LEFT: 5%" align=justify><B>Tom Ihrke</B>, an individual in the
State of South Carolina residing at 38 Krier Lane, Mount Pleasant, SC 29464 </P>
<P style="MARGIN-LEFT: 5%" align=justify>(the &#147;<B>Assignee</B>&#148;) </P>
<P align=justify><B>WHEREAS</B>:<B> </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">A. </TD>
    <TD colSpan=2>
      <P align=justify>The Assignor and the Assignee are in the business of
      natural resources exploration and development;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">B. </TD>
    <TD colSpan=2>
      <P align=justify>On or about July 29, 2010, the Assignor and Tom Ihrke,
      entered into an assignment agreement which, through the execution of this
      new Assignment Agreement dated September 13, 2010, is agreed by Tom Ihrke,
      the Assignor and the Assignee to be null and void and with no further
      value or force;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">C. </TD>
    <TD colSpan=2>
      <P align=justify>Lexaria has entered into a farmout, option and
      participation letter agreement dated December 21, 2005 (the &#147;Head
      Agreement&#148;), a copy of which is attached as Exhibit I hereto, with Griffin
      &amp; Griffin Exploration L.L.C. (&#147;Griffin&#148;) with respect to the following
      property:</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Belmont Lake Field, Wilkinson County, Mississippi,
      Section 41-T2N-R4W</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD vAlign=top width="5%">D. </TD>
    <TD colSpan=2>
      <P align=justify>Lexaria currently has the right to earn:</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>A PERPETUAL 32% (gross) and 20.802815% (net) working
      interest in Belmont Lake wells to be drilled and known as PP F-12-2; PP
      F-12-4; PP F-12- 5, and;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>An additional NON PERPETUAL 32% (gross) and 20.802815%
      (net) working interest in the Belmont Lake wells to be drilled and known
      as PP F-12-2; PP F- 12-4; PP F-12-5, until such time as the wells achieve
      500% revenue payout (as
more particularly described below), at which time this interest ceases as per the joint operating agreement (the &#147;Non Perpetual Interest&#148;). </P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>


<!--$$/page=-->
<A name="page_2"></A>

<TABLE BCLLIST style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD colspan=2>
&nbsp;</TD>
</TR>
<TR>
	<TD width=5% valign=top>
E. 	</TD>
	<TD colspan=2>
<P align="justify">On or about June 25, 2010, the Assignor entered into an Authorization For Expenditure agreement (the &#147;AFE&#148;) with Griffin, a copy of which is attached as Exhibit II hereto, to participate in the drilling and completion of
the PP F-12-2; PP F-12-4; PP F-12-5 wells by paying a 32% share of the costs of drilling and completing of the PP F-12-2; PP F-12- 4; PP F-12-5 wells as per the AFE; and</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
F. 	</TD>
	<TD colspan=2>
<P align="justify">The Assignee wishes to purchase from the Assignor and the Assignor wishes to sell to the Assignee a revenue interest of 5.77497% of a 32% share of the Assignor&#146;s net revenue after field operating expenses in the Non Perpetual
Interest from the PP F-12-2; PP F-12- 4; PP F-12-5 well (the &#147;Assigned Interest&#148;);</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
G. 	</TD>
	<TD colspan=2>
<P align="justify">In consideration for the Assigned Non Perpetual Interest the Assignee has agreed to pay to the Assignor:</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
<TD width=5%></TD>	<TD width=5% valign=top>
(a) 	</TD>
	<TD>
<P align="justify">7.69996% of the Assignor&#146;s Non Perpetual Interest costs currently budgeted at approximately &#36;408,116.48 but subject to revision by Griffin, being an amount of US&#36;31,424.80 (the &#147;Initial Consideration&#148;) of
which US&#36;25,000.00 has already been received; and</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
<TD width=5%></TD>	<TD width=5% valign=top>
(b) 	</TD>
	<TD>
<P align="justify">7.69996% of the Assignor&#146;s 32% share of the PP F-12-2; PP F-12-4; PP F-12-5 Non Perpetual Interest well costs from time to time for infrastructure, pipes, tanks, compressors, trucking, etc, as recommended for expenditure by
Griffin (the &#147;Subsequent Consideration&#148;); and,</P>
	</TD>
</TR>
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TR>
	<TD width=5% valign=top>
H. 	</TD>
	<TD colspan=2>
<P align="justify">Upon the terms and subject to the conditions set forth in this Assignment, the consent of Griffin with respect to the Assignment herein having been obtained, the Assignor wishes to assign and the Assignee wishes to accept the
assignment of the Assigned Non Perpetual Interest as shown above in and to the Participation Agreement.</P>
	</TD>
</TR>
</TABLE>
<P align="justify">
<B>NOW THEREFORE THIS AGREEMENT WITNESSES</B> that in consideration of covenants and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree each
with the other as follows: </P>
<TABLE BCLLIST style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
<TR>
	<TD width=5% valign=top>
1. 	</TD>
	<TD>
<P align="justify">The Assignor hereby assigns, transfers and sets over to the Assignee, effective as of the date hereof, all proportionate rights, interest and benefits in the Assigned Non Perpetual Interest held by or granted to the Assignor in
and to the Participation Agreement between the Assignor and Griffin but limited to a gross 500% revenue payout based on the total amount paid under the Initial Consideration and the Subsequent Consideration after which all rights, interests and
benefits cease; and details of which are referenced in the attached Exhibit II. The Assignee hereby acknowledges and agrees that the Assignor is making no representation or covenant as to whether any oil revenue will be recovered from the Assigned
Non Perpetual Interest.</P>
	</TD>
</TR>
</TABLE>
<BR>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">

<!--$$/page=--><A name=page_3></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>The Assignee hereby agrees to pay to the Assignor the
      Initial Consideration, within 5 days of the signing of this
    Assignment.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>The Assignee hereby agrees to pay to the Assignor the
      Subsequent Consideration as required and or demanded by the Assignor. In
      the event the Assignee does not provide the Subsequent Consideration
      within five (5) business days, Griffin shall withhold such amount of
      revenue from the Assigned Interest in order to satisfy the then amount
      outstanding of the Subsequent Consideration.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">4. </TD>
    <TD>
      <P align=justify>The Assignor warrants and represents to the Assignee that
      as of the date of this Assignment, the Participation Agreement is in full
      force and effect, without modification or amendment, that the Assignor has
      the full right and authority to assign the Assigned Interest and all of
      the Assigned Interest&#146;s rights, interest and benefits held by or granted
      to the Assignor in and to the Participation Agreement and that such
      rights, interest and benefits assigned to the Assignee herein are free of
      lien, encumbrance or adverse claim.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">5. </TD>
    <TD>
      <P align=justify>The Assignee hereby assumes and agrees to perform all
      obligations of the Assignor with respect to the Assigned Non Perpetual
      Interest under the Participation Agreement and guarantees to hold the
      Assignor harmless from any claim or demand of any kind made
    hereunder.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">6. </TD>
    <TD>
      <P align=justify>This Assignment shall be binding upon and inure to the
      benefit of the parties, their successors and assigns.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">7. </TD>
    <TD>
      <P align=justify>Each of the parties hereto will co-operate with the
      others and execute and deliver to the other parties hereto such other
      instruments and documents and take such other actions as may be reasonably
      requested from time to time by any other party hereto as necessary to
      carry out, evidence, and confirm the intended purpose of this
      Assignment.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">8. </TD>
    <TD>
      <P align=justify>This Assignment may not be amended except by an
      instrument in writing signed by each of the parties.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">9. </TD>
    <TD>
      <P align=justify>This Assignment and the Exhibit hereto contain the entire
      agreement between the parties with respect to the subject matter hereof
      and supercede all prior arrangements and understandings, both written and
      oral, express or implied, with respect thereto. Any preceding
      correspondence or offers are expressly superceded and terminated by this
      Assignment.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">10. </TD>
    <TD>
      <P align=justify>All notices and other communications required or
      permitted under this Assignment must be in writing and will be deemed
      given if sent by personal delivery, faxed with electronic confirmation of
      delivery, internationally recognized courier or registered or certified
      mail (return receipt requested), postage prepaid, or via email, to the
      parties at the following addresses (or at such other address for a party
      as will be specified by like notice):</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_4></A>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="33%">&nbsp;</TD>
    <TD align=left width="33%">&nbsp;</TD></TR>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>If to the Assignor: </TD>
    <TD align=left width="33%">If to the Assignee: </TD>
    <TD align=left width="33%">If to Griffin: </TD></TR></TABLE>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 8pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left><FONT size=2>950 - 1130 West Pender St. </FONT></TD>
    <TD align=left width="33%"><FONT size=2>38 Krier Lane </FONT></TD>
    <TD align=left width="33%"><FONT size=2>LeFleur&#146;s Gallery </FONT></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left><FONT size=2>Vancouver BC </FONT></TD>
    <TD align=left width="33%"><FONT size=2>Mt. Pleasant SC </FONT></TD>
    <TD align=left width="33%"><FONT size=2>P.O. Box 12274 </FONT></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left><FONT size=2>V6E 4A4 </FONT></TD>
    <TD align=left width="33%"><FONT size=2>29464 </FONT></TD>
    <TD align=left width="33%"><FONT size=2>Jackson, MS, 39236 </FONT></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left><FONT size=2>604.602.1633 ph </FONT></TD>
    <TD align=left width="33%"><FONT size=2>843.884.4358 ph </FONT></TD>
    <TD align=left width="33%"><FONT size=2>601.713.1146 ph </FONT></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left><FONT size=2>604.602.1625 fax </FONT></TD>
    <TD align=left width="33%"><FONT size=2>tom.ihrke@gmail.com </FONT></TD>
    <TD align=left width="33%"><FONT size=2>601.713.1175 fax
  </FONT></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">11. </TD>
    <TD>
      <P align=justify>This Assignment will be governed by and construed in
      accordance with the laws of the Province of British Columbia, Canada as
      applicable to contracts made and performed therein.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">12. </TD>
    <TD>
      <P align=justify>This Assignment may be executed in one or more
      counterparts, all of which will be considered one and the same Assignment
      and will become effective when one or mare counterparts have been signed
      by each of the parties and delivered to the other parties, it being
      understood that all parties need not sign the same counterpart.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">13. </TD>
    <TD>
      <P align=justify>This Agreement may be executed by delivery of executed
      signature pages by fax and such fax execution will be effective for all
      purposes.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">14. </TD>
    <TD>
      <P align=justify>Time is of essence in this
Assignment.</P></TD></TR></TABLE>
<P align=justify><B>IN WITNESS WHEREOF </B>the parties have executed this
Assignment as of the day and year first above written. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>ASSIGNOR </B></TD>
    <TD align=left width="50%"><B>ASSIGNEE </B></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left><B>LEXARIA CORP. </B></TD>
    <TD align=left width="50%"><B>Tom Ihrke </B></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD
      align=left>Per:&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD align=left
      width="50%">Per:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </U></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp;Authorized Signatory </TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;Authorized Signatory </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Name: Bal Bhullar </TD>
    <TD align=left width="50%">Name: Tom Ihrke </TD></TR>
  <TR vAlign=top>
    <TD align=left>Title: CFO, Director </TD>
    <TD align=left width="50%">&nbsp; </TD></TR></TABLE><BR>
<hr color="#000000" size="5">

</BODY>

</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>exhibit10-4.htm
<TEXT>
<HTML>
<HEAD>
   <TITLE>Lexaria Corp: Exhibit 10.4 - Filed by newsfilecorp.com</TITLE>
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<!--$$/page=--><A name=page_1></A>
<P align=right><B>Exhibit 10.4</B></P>
<P align=center><B>DEMAND LOAN AGREEMENT </B></P>
<P align=justify>THIS AGREEMENT made the 13<SUP>th</SUP> day of September, 2010
</P>
<P align=justify>AMONG: </P>
<P style="MARGIN-LEFT: 5%" align=justify><B>CAB Financial Services Ltd.
</B><BR>5774 Deadpine Drive <BR>Kelowna, BC V1P 1A3 <BR>Fax 250 765 4408
<BR></P>
<P style="MARGIN-LEFT: 5%" align=justify>(herein called the &#147;Lender&#148;) </P>
<P align=right>OF THE FIRST PART </P>
<P align=justify>AND: </P>
<P style="MARGIN-LEFT: 5%" align=justify><B>LEXARIA CORP.,</B> of<BR>950 &#150; 1130
West Pender Street,<BR>Vancouver BC V6E 4A4,<BR>Fax 604 602 1625 <BR></P>
<P style="MARGIN-LEFT: 5%" align=justify>(herein called the &#147;Company&#148;) </P>
<P align=right>OF THE SECOND PART </P>
<P align=justify><B>WHEREAS: </B></P>
<P
align=justify>A.&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>This
Demand Loan Agreement (the &#147;Loan Agreement&#148;) is entered into this date by and
between the Lender and the Company payable on demand. </P>
<P
align=justify>B.&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</STRONG>The purpose of this Loan Agreement is to set out terms of the
arrangement by which Lender agrees to make a loan of US$90,000 (&#147;Loan&#148;)
available to the Company.</P>
<P
align=justify><STRONG>1.&nbsp;</STRONG>&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>DEFINITIONS</U> </STRONG></P>
<P
align=justify>1.1&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>&#147;Indebtedness&#148;
means all loans and advances made or which may be made by the Lender to the
Company and Interest thereon and all costs, charges and expenses of or incurred
by the Lender in connection with any Securities and in connection with any
property covered by or comprised in the Securities, whether in protecting,
preserving, realizing or collecting any Securities or property aforesaid or
attempting so to do or otherwise and all other obligations and liabilities,
present or future, direct or indirect, absolute or contingent, mature or not, of
the Company to the Lender arising under or by virtue of this Agreement, the
Securities or otherwise howsoever. </P>
<P
align=justify>1.2&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>&#147;Interest&#148;
will be at <B>12%</B>. </P>
<P
align=justify>1.3&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>&#147;Principal&#148;
means the aggregate principal amount of money loaned to the Company by the
Lender of US$90,000 dollars. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<P align=center>- 2 - </P>
<P
align=justify>1.4&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>&#147;Securities&#148;
means the securities referred to in Article 3 or any renewal thereof or
substitution therefore. </P>
<P
align=justify><STRONG>2.&nbsp;</STRONG>&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>TERMS
OF THE LOAN</U> </STRONG></P>
<P
align=justify>2.1&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>The
Lender will lend to the Company, and the Company will borrow from the Lender by
way of one advance to be evidenced by a promissory note in the form attached
hereto as Schedule &#147;A&#148;, the Principal sum of ninety thousand dollars (US)
subject to the terms and conditions of this Agreement and the Securities. </P>
<P
align=justify>2.2&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>For
value received, Company promises to pay to Lender on the demand from the date of
this Loan Agreement (the &#147;Maturity Date&#148;) the amount of the Principal which has
been advanced hereunder and remains outstanding from the date of funding.</P>
<P
align=justify>2.3&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>Notwithstanding
the above the Company may repay at any time any or all of the Principal then
outstanding and accrued and unpaid Interest on giving 20 days notice to the
Lender. In this event, the Company may elect to repay the Principal at any time
in advance of the Maturity Date. </P>
<P
align=justify><STRONG>3.&nbsp;</STRONG>&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>SECURITY
FOR THE LOAN</U> </STRONG></P>
<P
align=justify>3.1&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>The
loan shall be unsecured.</P>
<P
align=justify><B>4.</B><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B><B><U>AFFIRMATIVE COVENANTS OF THE COMPANY</U></B><B> </B></P>
<P
align=justify>4.1&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>At
all times while any Principal or Interest on the Loan is outstanding, the
Company will: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>maintain the properties and assets being the subject of
      the Securities in good repair;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>keep true records and books of account in which full,
      true and correct entries will be made in accordance with generally
      accepted accounting principles consistently applied throughout the period
      involved, and maintain adequate accounts and reserves for all taxes,
      including taxes on income and profits, all depreciation and amortization
      of his properties and assets and all such other reserves for contingencies
      as would normally be required in accordance with generally accepted
      accounting principles;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>permit any representative of the Lender to visit and
      inspect the properties charged by the Securities and to examine the
      Company&#146;s books, records, leases and other documents relating thereto and
      to enquire from time to time as to particulars of any of the foregoing,
      all at such times and so often as may reasonably be requested;
  and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>forthwith upon request of the Lender execute and deliver
      to the Lender all such further and other mortgages, deeds, documents,
      matters, acts, things and insurances in law (collectively, the &#147;Ancillary
      Items&#148;) for the purpose of record or otherwise which the Lender may reasonably require to perfect
the intentions and provisions of this Agreement; provided that the Company will
not be obligated to execute and deliver any Ancillary Items where the execution
and delivery of such Ancillary Items would breach the terms and conditions of
any lease of real property existing on the date hereof to which the Company is a
party. </P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_3></A>
<P align=center>- 3 - </P>
<P
align=justify><STRONG>5.&nbsp;</STRONG>&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>DEFAULT</U> </STRONG></P>
<P
align=justify>5.1&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG><U>Default
by the Company</U>. The occurrence of one or more of the following events shall
constitute an &#147;event of default&#148;, namely: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>if the Company fails to make payment of the Indebtedness
      or any part thereof as and when the same comes due and payable;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>if any representation or warranty contained herein or
      otherwise made in writing to the Lender in connection with any of the
      transactions contemplated by this Agreement is found to be false or
      misleading or incorrect in any material respect on the date which it was
      made;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>if the Company defaults in the performance of or
      compliance with any term, covenant or agreement contained in this
      Agreement or in any of the Securities and the default is not remedied
      within twenty (20) days after notice thereof has been given to the
      Company;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>the entry of a decree or order for relief by a court
      having jurisdiction in respect of the Company in an involuntary case under
      the federal bankruptcy laws, as now or hereafter constituted, or any other
      applicable federal or state bankruptcy, insolvency or other similar
      laws;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>the commencement by the Company of a voluntary case under
      the federal bankruptcy laws, as now or hereafter constituted, or any other
      applicable federal or state bankruptcy, insolvency or other similar
      laws;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>the appointment of a receiver, liquidator, assignee,
      custodian, trustee, sequestrator (or similar official) of the Company or
      for any material part of the Company&#146;s property;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>the consent by the Company to the appointment of, or
      taking possession by, a receiver, liquidator, assignee, custodian,
      trustee, sequestrator (or similar official) of the Company or for any
      material part of the Company&#146;s property;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>the issuance of an order for the winding up or
      liquidation of the affairs of the Company and the continuance of such
      decree, order or appointment unstayed and in effect for a period of sixty
      (60) consecutive days;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the making by the Company of an assignment for the
      benefit of its creditors;</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_4></A>
<P align=center>- 4 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>the institution by or against the Company of any formal
      or informal proceeding for the dissolution or liquidation of, settlement
      of claims against or winding-up of the affairs of the Company;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify>the threat by the Company of ceasing to carry on business
      or the Company ceasing to carry on business;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(l) </TD>
    <TD>
      <P align=justify>the entry of a decree or order or an effective resolution
      passed for winding-up the Company;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(m) </TD>
    <TD>
      <P align=justify>the entry by the Company into any reconstruction,
      reorganization, amalgamation, merger or other similar arrangement with any
      other person; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(n) </TD>
    <TD>
      <P align=justify>if any encumbrancer takes possession of the properties
      being the subject of the Securities or being financed with the Loan,
      unless the Company in good faith dispute the encumbrancer&#146;s claim and
      non-payment does not jeopardize the title of the Company to any such
      property or any way impairs any of the Securities;
or</P></TD></TR></TABLE>
<P
align=justify>5.2&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>Upon
the occurrence of any one of these events of default, the entire amount of the
Principal and Interest then outstanding shall immediately become due and
payable. </P>
<P
align=justify>5.3&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>Lender&#146;s
delay or failure to insist upon the strict performance of the Company&#146;s
obligations under this Loan Agreement or the Securities shall not be construed
as a waiver of Lender&#146;s right to later require strict performance nor as a
waiver of any of Lender&#146;s legal and equitable remedies. </P>
<P
align=justify><STRONG>6.&nbsp;</STRONG>&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;<U>PAYMENT ON MATURITY</U> </STRONG></P>
<P
align=justify>6.1&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>On
the Maturity Date, the Company will deliver the Principal then outstanding and
any earned Interest due Lender by wire transfer to Lender&#146;s nominated bank
account or in cash or certified cheque delivered to the address of Lender. </P>
<P
align=justify><STRONG>7.&nbsp;</STRONG>&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>NOTICES</U>
</STRONG></P>
<P
align=justify>7.1&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>Any
notice, request, demand, claim, instruction, or other document to be given to
any party pursuant to this Loan Agreement shall be in writing delivered
personally or sent by mail, registered or certified, postage fully prepaid, as
follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>If to, Lender to the address set forth on the first page
      of this Loan Agreement.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>If to Company, to the addresses set forth on the first
      page of this Loan Agreement, with a copy to:</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify><B>Madonald Tuskey, Corporate and
Securities Lawyers</B> <BR>1210 &#150; 777 Hornby Street<BR>Vancouver, British
Columbia V6Z 1S4 <BR>Attention: William L. Macdonald <BR><B>Fax</B>: 604 681
4760 <BR></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_5></A>
<P align=center>- 5 - </P>
<P
align=justify>7.2&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>Any
party may give any notice, request, demand, claim, instruction, or other
document under this section using any other means (including expedited courier,
messenger service, telecopy, facsimile, telex, ordinary mail, or electronic
mail), but no such notice, request, demand, claim, instruction, or other
document shall be deemed to have been duly given unless and until it actually is
received by the individual for whom it is intended. Any party may change its
address for purposes of this section by giving notice of the change of address
to the other party in the manner provided in this section. </P>
<P
align=justify><STRONG>8.&nbsp;</STRONG>&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>TERMINATION</U>
</STRONG></P>
<P
align=justify>8.1&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>This
Loan Agreement may, by written notice, be terminated as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>by either the Company or the Lender if a material breach
      of any provision of this Loan Agreement has been committed by the other
      party and such breach has not been waived; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>by mutual written consent of the Company and
    Lender.</P></TD></TR></TABLE>
<P
align=justify>8.2&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>Each
Party&#146;s right of termination is in addition to any other rights it may have
under this Loan Agreement or otherwise, and the exercise of a right of
termination will not be an election of remedies; provided, however, that if this
Loan Agreement is terminated by a party because of a breach of the Loan
Agreement by the other party or because one or more of the conditions to the
terminating party&#146;s obligations under this Loan Agreement is not satisfied as a
result of the other party&#146;s failure to comply with its obligations under this
Loan Agreement, the terminating party&#146;s right to pursue all legal remedies will
survive such termination unimpaired. For greater certainty, termination of this
Loan Agreement does not release the Company from its obligations hereunder in
respect of any Principal then outstanding. </P>
<P
align=justify><STRONG>9.&nbsp;</STRONG>&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>INDEMNIFICATION</U>
</STRONG></P>
<P
align=justify>9.1&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>All
representations, warranties, covenants, and obligations in this Loan Agreement,
and any other certificate or document delivered pursuant to this Loan Agreement
will survive the Loan Agreement. The right to indemnification, payment of
damages or other remedy based on such representations, warranties, covenants,
and obligations will not be affected by any investigation conducted with respect
to, or any knowledge acquired (or capable of being acquired) at any time,
whether before or after the execution and delivery of this Loan Agreement, with
respect to the accuracy or inaccuracy of or compliance with, any such
representation, warranty, covenant, or obligation. The waiver of any condition
based on the accuracy of any representation or warranty, or on the performance
of or compliance with any covenant or obligation, will not affect the right to
indemnification, payment of damages, or other remedy based on such
representations, warranties, covenants, and obligations. </P>
<P
align=justify>9.2&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>The
Company and the Lender mutually agree to indemnify and hold each other harmless
along with their respective representatives, stockholders, controlling persons,
and affiliates (collectively, the &#147;Indemnified Persons&#148;) for, and will pay to
the Indemnified Persons the amount of, any loss, liability, claim, damage
(including incidental and consequential damages), expense (including costs of
investigation and defense and reasonable attorneys&#146; fees) or diminution of
value, whether or not involving a third-party claim, arising, directly or indirectly, from or in connection with any breach of any
representation, warrant, covenant or obligation made by the other Party in this
Loan Agreement.</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_6></A>
<P align=center>- 6 - </P>
<P
align=justify><STRONG>10.&nbsp;</STRONG>&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>GENERAL
PROVISIONS</U> </STRONG></P>
<P
align=justify>10.1&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>The
Parties agree to furnish upon request to each other such further information,
and to execute and deliver to each other such other documents, and to do such
other acts and things, all as the other party may reasonably request for the
purpose of carrying out the intent of this Loan Agreement. </P>
<P
align=justify>10.2&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>The
rights and remedies of the parties to this Loan Agreement are cumulative and not
alternative. Neither the failure nor any delay by any party in exercising any
right, power, or privilege under this Loan Agreement or the documents referred
to in this Loan Agreement will operate as a waiver of such right, power, or
privilege, and no single or partial exercise of any such right, power, or
privilege will preclude any other or further exercise of such right, power, or
privilege or the exercise of any other right, power, or privilege. To the
maximum extent permitted by applicable law, (a) no claim or right arising out of
this Loan Agreement or the documents referred to in this Loan Agreement can be
discharged by one party, in whole or in part, by a waiver or renunciation of the
claim or right unless in writing signed by the other party; (b) no waiver that
may be given by a party will be applicable except in the specific instance for
which it is given; and (c) no notice to or demand on one party will be deemed to
be a waiver of any obligation of such party or of the right of the party giving
such notice or demand to take further action without notice or demand as
provided in this Loan Agreement or the documents referred to in this Loan
Agreement. </P>
<P
align=justify>10.3&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>This
Loan Agreement supersedes all prior agreements between the parties with respect
to this loan and constitutes (along with the documents referred to in this Loan
Agreement) a complete and exclusive statement of the terms of the agreement
between the parties with respect to its subject matter. This Loan Agreement may
not be amended except by a written agreement executed by the party to be charged
with the amendment. </P>
<P
align=justify>10.4&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>Neither
party may assign any of its rights under this Loan Agreement without the prior
consent of the other parties. This Loan Agreement will apply to, be binding in
all respects upon, and inure to the benefit of the successors and permitted
assigns of the parties. Nothing expressed or referred to in this Loan Agreement
will be construed to give any Person other than the parties to this Loan
Agreement any legal or equitable right, remedy, or claim under or with respect
to this Loan Agreement or any provision of this Loan Agreement. This Loan
Agreement and all of its provisions and conditions are for the sole and
exclusive benefit of the parties to this Loan Agreement and their successors and
assigns. </P>
<P
align=justify>10.5&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>If
any provision of this Loan Agreement is held invalid or unenforceable by any
court of competent jurisdiction, the other provisions of this Loan Agreement
will remain in full force and effect. Any provision of this Loan Agreement held
invalid or unenforceable only in part or degree will remain in full force and
effect to the extent not held invalid or unenforceable. </P>
<P
align=justify>10.6&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>This
Loan Agreement will be governed by the laws of the Province of British Columbia.
</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_7></A>
<P align=center>- 7 - </P>
<P
align=justify>10.7&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>This
Loan Agreement may be signed in as many counterparts is as necessary and all
signatures so executed shall constitute one Agreement, binding on all Parties as
if each was a signatory on the original. </P>
<P
align=justify><STRONG>11.&nbsp;</STRONG>&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>SIGNATURES</U>
</STRONG></P>
<P
align=justify>11.1&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</STRONG>IN
WITNESS WHEREOF, the parties have executed and delivered this Loan Agreement as
of the date first written above. </P>
<P align=justify><B></B>&nbsp;</P>
<P align=justify><B>CAB Financial Services Ltd.</B> </P>
<P align=justify>Per:
__________________________________<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Chris Bunka Authorized Signatory </P>
<P align=justify><B></B>&nbsp;</P>
<P align=justify><B>LEXARIA CORP.</B> </P>
<P align=justify>Per:
__________________________________<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Bal Bhullar, CFO and Authorized Signatory </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_8></A>
<P align=center><B>SCHEDULE &#147;A&#148; </B></P>
<P align=center><B><U>PROMISSORY NOTE</U></B><B> </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>US$90,000</B> </TD>
    <TD align=right width="50%"><B>September 13</B>, 2010 </TD></TR></TABLE>
<P align=justify style="text-indent: 5%">FOR VALUE RECEIVED, the undersigned (the &#147;Borrower&#148;) promise to
pay to CAB Financial Services Ltd. of 5774 Deadpine Drive, Kelowna B.C. V1P 1A3
Canada, (the &#147;Lender&#148;) the principal sum of ninety thousand US dollars
(US$90,000) in lawful currency of the US (the &#147;Principal Sum&#148;), as herein
provided.</P>
<P align=justify style="text-indent: 5%">The Principal Sum or such amount as shall remain outstanding
from time to time shall bear 12% interest thereon, both before and after each of
maturity, default and judgment commencing on the day the Principal Sum is
advanced by the Lender to the Borrower.</P>
<P align=justify style="text-indent: 5%">The Principal Sum aforesaid will become due and payable on
demand. </P>
<P align=justify style="text-indent: 5%">Extension of time of payment of all or any part of the amount
owing hereunder at any time or times and failure of the Lender to enforce any of
its rights or remedies hereunder shall not release the Borrower from its
obligations hereunder or constitute a waiver of the rights of the Lender to
enforce any rights and remedies therein. </P>
<P align=justify style="text-indent: 5%">On default in payment of any sum due hereunder for the
Principal Sum or Interest or after 15 days&#146; notice of Default to the Borrower
upon the occurrence of an Event of Default as defined pursuant to the Demand
Loan Agreement, entered into between the Borrower and the Lender and dated for
reference September 13, 2010, or any amendments thereto, the unpaid balance of
the Principal Sum and all accrued Interest thereon shall at the option of the
Lender forthwith become due and payable. </P>
<P align=justify style="text-indent: 5%">The undersigned, when not in default hereunder, will have the
privilege of prepaying in whole or in part the Principal Sum, upon 20 days&#146;
notice to the Lender. </P>
<P align=justify style="text-indent: 5%">Presentment, protest, notice of protest and notice of dishonour
are hereby waived. </P>
<P align=justify><B>LEXARIA CORP.</B> </P>
<P align=justify>Per:
__________________________________<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Bal Bhullar, Authorized Signatory </P>
<hr color="#000000" size="5">

</BODY>

</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>6
<FILENAME>exhibit99-1.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>Lexaria Corp: Exhibit 99.1 - Filed by newsfilecorp.com</TITLE>
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<p align="right"><b>
<A name=page_1></A>Exhibit 99.1</b><BR>
</p>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>September 13, 2010 </TD>
    <TD align=right width="50%">Trading Symbol: LXRP: OTCBB </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=right width="50%">LXX: CNSX </TD></TR></TABLE>
<P align=center><B><FONT size=5>Next Oil Well Financed </FONT></B></P>
<P align=justify>(Vancouver, BC: September 13, 2010) - Lexaria Corp. (the
"Company&#148; or &#147;Lexaria") reports that the final well in the current drill
program, the PP-F12-5, has been financed and is now drilling.</P>
<P align=justify>As part of the well financing, the CEO and Chairman of the
Company has provided a US$90,000 loan to assist the Company. The loan provides
for a 12% interest rate and is repayable on demand. </P>
<P align=justify>Lexaria currently holds a 40% gross working interest in the
PP-F12-4 and PP-F12-5 directional wells, and a 32% interest in the PP-F12 and
PP-F12-3 wells. The Company was able to raise additional funds to also obtain an
additional 8% non-perpetual interest - at no cost to the Company &#150; through three
assignment agreements. The Company assigned a 24% non-perpetual gross interest
limited to a 500% revenue payout to three Assignees. These three assignment
agreements provided the fund providers with a 24% non-perpetual gross interest
limited to a 500% revenue payout, in return for those Assignees contribution of
US$408,116.48. In this manner Lexaria was able to obtain its additional 8%
non-perpetual gross interest with no equity dilution to shareholders and with no
further debt incurred by the Company. </P>
<P align=justify>The Chairman of the Company, and the Scientific Advisor of the
Company, and an Senior VP Business Development to the Company, each participated
in the assignments. </P>
<P align=justify><I>About Lexaria: </I></P>
<P align=justify>To learn more about Lexaria Corp. visit
www.lexariaenergy.com.</P>
<P align=justify>ON BEHALF OF THE BOARD<BR>"Chris Bunka"<BR>Mr. Chris Bunka,
President <BR></P>
<P align=justify>FOR FURTHER INFORMATION PLEASE CONTACT:<BR>Lexaria
Corp.<BR>Chris Bunka President/CEO/Chairman<BR>(250) 717 0377 <BR></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>


<!--$$/page=-->
<A name="page_2"></A>

<P align=justify><B><U>FORWARD-LOOKING STATEMENTS </U></B></P>
<P align=justify>This release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. 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. 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. It is impossible to identify all such factors but they include and
are not limited to the existence of underground deposits of commercial
quantities of oil and gas; cessation or delays in exploration because of
mechanical, weather, operating, financial or other problems; capital
expenditures that are higher than anticipated;
or exploration opportunities being fewer than currently anticipated. There can be no assurance that road or site access is possible; no assurance that well treatments will have any effect on oil or gas production; no assurance that oil field
interconnections will have any measurable impact on oil or gas production or on field operations, and no assurance that the expected new well(s) will have any impact on the Company. There can be no assurance that expected oil and gas production will
actually materialize; and thus no assurance that expected revenue will actually occur. There is no assurance the Company will have sufficient funds to drill additional wells, or to complete acquisitions or other business transactions. Such forward
looking statements also include estimated cash flows, revenue and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and
intentions to participate in future exploration drilling. Adverse weather conditions can delay operations, impact production, and cause reductions in revenue. The Company may not have sufficient expertise to thoroughly exploit its oil and gas
properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk. Current oil and gas production rates may not be sustainable and targeted production
rates may not occur. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity,
litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.</P>
<P align="justify">
<I>The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.</I></P>

<hr color="#000000" size="5">


</BODY>

</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
