<SEC-DOCUMENT>0001062993-12-005071.txt : 20121123
<SEC-HEADER>0001062993-12-005071.hdr.sgml : 20121122
<ACCEPTANCE-DATETIME>20121123131314
ACCESSION NUMBER:		0001062993-12-005071
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20121123
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:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20121123
DATE AS OF CHANGE:		20121123

FILER:

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

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-52138
		FILM NUMBER:		121222653

	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
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
   <TITLE>Lexaria Corp.: Form 8-K - Filed by newsfilecorp.com</TITLE>
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<BODY style="font-size:10pt;">
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<P align=center><B><FONT size=5>UNITED STATES</FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT><BR>Washington, D.C.
20549</B></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):
<STRONG><U>November 22, 2012</U></STRONG></P>
<P align=center><B><FONT size=5>LEXARIA CORP.</FONT><U><BR></U></B><i>(Exact name
of registrant as specified in its charter)</i></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>Nevada </B></TD>
    <TD align=center width="33%"><B>000-52138 </B></TD>
    <TD align=center width="33%"><B>20-2000871 </B></TD></TR>
  <TR vAlign=top>
    <TD align=center><i>(State or other jurisdiction of </i> </TD>
    <TD align=center width="33%"><i>(Commission File Number) </i> </TD>
    <TD align=center width="33%"><i>(IRS Employer Identification No.) </i> </TD></TR>
  <TR vAlign=top>
    <TD align=center><i>incorporation) </i> </TD>
    <TD align=left width="33%"><i>&nbsp; </i> </TD>
    <TD align=left width="33%"><i>&nbsp; </i> </TD></TR></TABLE><BR>
<P align=center><STRONG>#950 &#150; 1130 West Pender Street, Vancouver, British
Columbia, Canada V6E 4A4 </STRONG></P>
<P align=center><i>Registrant's telephone number, including area code: </i>
<STRONG><U>(604) 602-1675</U></STRONG></P>
<P align=center>_______________________________________________<BR><i>(Former name
or former address, if changed since last report.)</i></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;&nbsp;&nbsp;] Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)</P>
<P align=justify>[&nbsp;&nbsp;&nbsp;]&nbsp;Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
<P align=justify>[&nbsp;&nbsp;&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;&nbsp;&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
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<P align=justify><B>Item 1.01 Entry into a Material Definitive Agreement </B></P>
<P align=justify><B>Item 2.03 Creation of Direct Financial Obligation</B></P>
<P align=justify>On November 22, 2012 the Company entered into an Amendment to
existing Agreements with maturity dates of month to month and December 1, 2012
with CAB Financial Services Ltd., David DeMartini, Emerald Atlantic LLC, and
other debt holders of the Company (&#147;Lenders&#148;). The following are the abridged
terms to the Amended Agreements:</P>
<P style="MARGIN-LEFT: 5%" align=justify>(1) If certain strategic developments
occur prior to December 31, 2012, then the Company will repay prior to January
25, 2013, the full amount of the outstanding loan due, including all the normal
interest due, plus a bonus payment of an additional 30-days interest
payment.</P>
<P style="MARGIN-LEFT: 5%" align=justify>(2) If certain strategic developments
occur <B>after </B>December 31, 2012, or not at all, then the Company will repay
the full amount of the outstanding loan due as per the following:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>The loan repayment schedule will be converted to 12 equal
      monthly principal payments that together will repay 100% of the principal
      amount, plus interest at 12% on the monthly declining balance, in arrears;
      and,</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>The first payment of interest and principal shall be due
      on January 1, 2013; and,</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>In recognition of the 12-month extension of repayment
      being granted by the Lender to the Company, it agrees to pay a one-time
      bonus interest payment of 6% of the principal amount that is outstanding
      as submit this one-time payment not later than January 25, 2013;
    and,</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>If during any period of time prior to the full repayment
      of the principal amount, the Company is in arrears on the monthly interest
      and principal payments for 90 days, then the interest rate outstanding on
      all unpaid principal amounts at that time will be increased to 18%;
      and,</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>If the Company makes capital investments cumulatively
      exceeding $50,000 prior to that time when full repayment of the loan has
      occurred, then the Company will grant a lien to the Lender on all such
      capital investments; and,</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vi) </TD>
    <TD>
      <P align=justify>If the Company should drill any new well(s) in the
      Belmont Lake Oil Field prior to that time when full repayment of the loan
      has occurred, then the Lender shall have the right, upon 30 days notice
      from Lexaria, to financially participate in that well under the same terms
      and conditions as the Company, as to the Lender&#146;s <B>pro-rata portion of a
      cumulative total </B>of $930,000, which is the total amount of loans being
      amended under the terms of this Agreement, and limited to all Lenders
      cumulatively to not more than 30% of the Company&#146;s interest in any new
      well(s); and,</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vii) </TD>
    <TD>
      <P align=justify>The rights granted to the Lender under Section (4)(vi),
      above, are transferable only with the written approval, in advance, of the
      Company; and,</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(viii) </TD>
    <TD>
      <P align=justify>The Company retains the right to repay the Loan in full
      in advance of November 27, 2013 at any time along with the interest due as
      of the day of full repayment, this right does not negate the rights of
      Section (4)(iii).</P></TD></TR></TABLE>
<P align=justify>The Company and Purchases hereby agree that all previous Loan
Agreements are terminated and any amounts due and owing there under are replaced
and superseded by the Promissory Notes issued by the Company pursuant to the
Purchase Agreement.</P>
<P align=justify><B>Item 7.01 Regulation FD Disclosure.</B></P>
<P align=justify>A copy of the news release announcing the Amendment to Existing
Agreements is filed as exhibit 99.1 to this current report and is hereby
incorporated by reference.</P>
<P align=justify><B>ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.</B></P>
<DIV>
<TABLE
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    <TD align=center style="border-style: none; border-width: medium"><B>Exhibit No.</B> </TD>
    <TD align=center width="85%" style="border-style: none; border-width: medium"><B>Description</B> </TD></TR>
  <TR vAlign=top>
    <TD align=center style="border-style: none; border-width: medium" bgcolor="#EEEEEE"><a href="exhibit10-1.htm">10.1 </a></TD>
    <TD align=left width="85%" style="border-style: none; border-width: medium" bgcolor="#EEEEEE"><a href="exhibit10-1.htm">Amendment to Existing Agreements dated November 22, 2012 (9) </a></TD></TR>
  <TR vAlign=top>
    <TD align=center style="border-style: none; border-width: medium"><a href="exhibit99-1.htm">99.1 </a></TD>
    <TD align=left width="85%" style="border-style: none; border-width: medium">
    <a href="exhibit99-1.htm">Press Release dated November 23, 2012 </a></TD></TR>
  </TABLE>
</DIV>
<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: November 23, 2012</P>
<TABLE
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  <TR vAlign=top>
    <TD align=left nowrap>&nbsp; </TD>
    <TD align=left width="40%">Lexaria Corp. </TD>
    <TD align=left width="50%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left nowrap>(Signature)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="40%">By:
      &#147;<I>/s/ Chris Bunka&#148;</I> </TD>
    <TD align=right width="50%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left nowrap>&nbsp; </TD>
    <TD align=left width="40%">Chris Bunka </TD>
    <TD align=left width="50%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left nowrap>&nbsp; </TD>
    <TD align=left width="40%">President &amp; CEO </TD>
    <TD align=left width="50%">&nbsp;</TD></TR></TABLE><BR>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit10-1.htm
<DESCRIPTION>EXHIBBIT 10.1
<TEXT>
<HTML>
<HEAD>
   <TITLE>Lexaria Corp.: Exhibit 10.1 - Filed by newsfilecorp.com</TITLE>

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

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<P align=right><b>Exhibit 10.1</b></P>
<P align=center><B>AMENDMENT TO EXISTING AGREEMENT</B></P>
<P align=justify><B>THIS AMENDMENT</B> (the &#147;<B>Agreement</B>&#148;) is made
effective as of this 22<SUP>th</SUP> day of November, 2012</P>
<P align=justify><B>BETWEEN</B>:<BR></P>
<P align=justify style="margin-left: 10%"><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 align=justify style="margin-left: 10%">(the &#147;<B>Company,</B>&#148; or, &#147;<B>Lexaria</B>&#148;)</P>
<P align=justify><B>AND</B>:<BR></P>
<P align=justify style="margin-left: 10%">CAB Financial Services Ltd. <BR>#205, 171 Commercial
Drive<BR>Kelowna, BC<BR>V1X 7W2 </P>
<P align=justify style="margin-left: 10%">(the &#147;<B>Lender</B>&#148;)<BR></P>
<P align=justify><B>WHEREAS</B>:<BR></P>
<P align=justify>Article 1 - The Lender has previously loaned US$100,000 to
Lexaria through a secured convertible debenture with a maturity date of December
1, 2012 (the &#147;<B>Initial Agreement</B>&#148;) and both Lexaria and the Lender agree
to amend the terms, by way of this Agreement, under which those funds are
loaned; </P>
<P align=justify>Article 2 - Lexaria is attempting, along with third-party
co-owners, to sell its interest in the Belmont Lake Oil Field for cash
consideration and to use the proceeds to pay 100% of the loaned amount, with
interest, to the Lender; </P>
<P align=justify>Article 3 - The viability of selling the Belmont Lake Oil Field
interests, and the timing of a potential sale, is beyond Lexaria&#146;s control,
necessitating new provisions for the repayment of the loaned funds. </P>
<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>
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<P align="justify" style="text-indent: 5%">
(1) All of the terms, conditions and obligations of the Initial Agreement remain valid and in force for the period of time that this Amendment is effective except for those terms, conditions and obligations that are specifically amended by way of
this Agreement. </P>
<P align="justify" style="text-indent: 5%">
(2) The December 1, 2012 interest payment for the month of November 2012 will be made normally as per the Initial Agreement. </P>
<P align="justify" style="text-indent: 5%">
(3) If the Belmont Lake Oil Field interests have been sold and the transaction has closed including all funds from the transaction received by Lexaria prior to December 31, 2012 (the &#147;<B>Closing</B>&#148;), then Lexaria will repay prior to
January 25, 2013, the full amount of the outstanding loan due at the time of the Closing, including all the normal interest due up to the Closing, plus a bonus payment of an additional 30-days interest payment. </P>
<P align="justify" style="text-indent: 5%">
(4) If the Belmont Lake Oil Field interests have been sold and the transaction closes <B>after</B> December 31, 2012, or if the Belmont Lake Oil Field interests do <B>not</B> sell, then Lexaria will repay the full amount of the outstanding loan due
as per the following: </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>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(i) 	</TD>
	<TD>
<P align="justify">The loan repayment schedule will be converted, with an effective date of December 1, 2012, to 12 equal monthly principal payments that together will repay 100% of the principal amount, plus interest at 12% on the monthly declining
balance, in arrears; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(ii) 	</TD>
	<TD>
<P align="justify">The first payment of interest and principal shall be due on January 1, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iii) 	</TD>
	<TD>
<P align="justify">In recognition of the 12-month extension of repayment being granted by the Lender to Lexaria, Lexaria agrees to pay a one-time bonus interest payment of 6% of the principal amount that is outstanding as of December 1, 2012, and to
submit this one-time payment not later than January 25, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iv) 	</TD>
	<TD>
<P align="justify">If during any period of time prior to the full repayment of the principal amount, Lexaria is in arrears on the monthly interest and principal payments for 90 days, then the interest rate outstanding on all unpaid principal amounts
at that time will be increased to 18%; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(v) 	</TD>
	<TD>
<P align="justify">If Lexaria makes capital investments cumulatively exceeding &#36;50,000 prior to that time when full repayment of the loan has occurred, then Lexaria will grant a lien to the Lender on all such capital investments; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vi) 	</TD>
	<TD>
<P align="justify">If Lexaria should drill any new well(s) in the Belmont Lake Oil Field prior to that time when full repayment of the loan has occurred, then the Lender shall have the right, upon 30 days notice from Lexaria, to financially
participate in that well under the same terms and conditions as Lexaria, as to the Lender&#146;s <B>pro</B><B>-</B><B>rata portion of a cumulative total </B>of &#36;930,000, which is the total amount of loans being amended under the terms of this
Agreement, and limited to all Lenders cumulatively to not more than 30% of Lexaria&#146;s interest in any new well(s); and,</P>
	</TD>
</TR>
</TABLE>
<BR>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">

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<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%">&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(vii) </TD>
    <TD>
      <P align=justify>The rights granted to the Lender under Section (4)(vi),
      above, are transferable only with the written approval, in advance, of
      Lexaria; and,</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(viii) </TD>
    <TD>
      <P align=justify>Lexaria retains the right to repay the Loan in full in
      advance of December 1, 2013 at any time along with the interest due as of
      the day of full repayment, this right does not negate the rights of
      Section (4)(iii).</P></TD></TR></TABLE>
<P align=justify style="text-indent: 5%">(5) This Agreement 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>
<P align=justify style="text-indent: 5%">(6) The Agreement may be executed in one or more counterparts,
all of which will be considered one and the same Agreement and will become
effective when one or more 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>
<P align=justify style="text-indent: 5%">(7) This Agreement may be executed by delivery of executed
signature pages by fax or by scan and email, and such execution will be
effective for all purposes. </P>
<P align=justify style="text-indent: 5%">IN WITNESS WHEREOF the parties have executed this Agreement as
of the day and year first written above. <BR>
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD align=left width="5%" nowrap  >&nbsp;</TD>
    <TD align=left width="40%" nowrap >LEXARIA CORP</TD>
    <TD align=left width="50%" nowrap >LENDER</TD></TR>
  <TR>
    <TD align=left width="5%" nowrap >&nbsp;</TD>
    <TD align=left width="40%" nowrap >&nbsp;</TD>
    <TD align=left width="50%" nowrap >&nbsp;</TD></TR>
  <TR>
    <TD align=left width="5%" nowrap  >&nbsp;</TD>
    <TD align=left width="40%" nowrap >&nbsp;</TD>
    <TD align=left width="50%" nowrap >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" nowrap >&nbsp;</TD>
    <TD align=left width="40%" nowrap>Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>/s/ Bal
      Bhullar&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%" nowrap>Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" nowrap >&nbsp; </TD>
    <TD align=left width="40%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD>
    <TD align=left
      width="50%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory
    </TD></TR>
  <TR>
    <TD width="5%" nowrap >&nbsp; </TD>
    <TD width="40%" nowrap>&nbsp; </TD>
    <TD width="50%" nowrap>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" nowrap >&nbsp;</TD>
    <TD align=left width="40%" nowrap>Name:&nbsp;&nbsp; Bal Bhullar </TD>
    <TD align=left width="50%" nowrap>Name: </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" nowrap >&nbsp;</TD>
    <TD align=left width="40%" nowrap>Title:&nbsp;&nbsp;&nbsp;&nbsp; CFO, Director </TD>
    <TD align=left width="50%" nowrap>Title: </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 height="76">

  <TR vAlign=top>
    <TD align=left height="16" > </TD>
    <TD align=left width="42%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________</TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" >&nbsp; </TD>
    <TD align=left
      width="42%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory
    </TD></TR>
  <TR>
    <TD height="15" >&nbsp; </TD>
    <TD width="95%" height="15">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" >&nbsp;</TD>
    <TD align=left width="95%" height="15">Name:&nbsp;&nbsp; Chris Bunka </TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" >&nbsp;</TD>
    <TD align=left width="95%" height="15">Title:&nbsp;&nbsp;&nbsp;&nbsp; CEO, Director </TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" > </TD>
    <TD align=left width="95%" height="15"> </TD></TR></TABLE>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">


<!--$$/page=-->
<A name="page_1"></A>

<P align="center">
<B>AMENDMENT TO EXISTING AGREEMENT</B></P>
<P align="justify">
<B>THIS AMENDMENT</B> (the &#147;<B>Agreement</B>&#148;) is made effective as of this 22<SUP>th</SUP> day of November, 2012</P>
<P align="justify">
<B>BETWEEN</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
<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<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Company,</B>&#148; or, &#147;<B>Lexaria</B>&#148;)<BR>
</P>
<P align="justify">
<B>AND</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
Cielo Investment, LLC <BR>
5046 Weatherstone Circle<BR>
Sugar Land, TX<br>
77479<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Lender</B>&#148;)<BR>
</P>
<P align="justify">
<B>WHEREAS</B>:<BR>
</P>
<P align="justify">
Article 1 - The Lender has previously loaned US&#36;250,000 to Lexaria through a secured convertible debenture with a maturity date of November 30, 2012 (the &#147;<B>Initial Agreement</B>&#148;) and both Lexaria and the Lender agree to amend the
terms, by way of this Agreement, under which those funds are loaned; </P>
<P align="justify">
Article 2 - Lexaria is attempting, along with third-party co-owners, to sell its interest in the Belmont Lake Oil Field for cash consideration and to use the proceeds to pay 100% of the loaned amount, with interest, to the Lender; </P>
<P align="justify">
Article 3 - The viability of selling the Belmont Lake Oil Field interests, and the timing of a potential sale, is beyond Lexaria&#146;s control, necessitating new provisions for the repayment of the loaned funds. </P>
<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>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



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

<P align="justify" style="text-indent: 5%">
(1) All of the terms, conditions and obligations of the Initial Agreement remain valid and in force for the period of time that this Amendment is effective except for those terms, conditions and obligations that are specifically amended by way of
this Agreement. </P>
<P align="justify" style="text-indent: 5%">
(2) The December 1, 2012 interest payment for the month of November 2012 will be made normally as per the Initial Agreement. </P>
<P align="justify" style="text-indent: 5%">
(3) If the Belmont Lake Oil Field interests have been sold and the transaction has closed including all funds from the transaction received by Lexaria prior to December 31, 2012 (the &#147;<B>Closing</B>&#148;), then Lexaria will repay prior to
January 25, 2013, the full amount of the outstanding loan due at the time of the Closing, including all the normal interest due up to the Closing, plus a bonus payment of an additional 30-days interest payment. </P>
<P align="justify" style="text-indent: 5%">
(4) If the Belmont Lake Oil Field interests have been sold and the transaction closes <B>after</B> December 31, 2012, or if the Belmont Lake Oil Field interests do <B>not</B> sell, then Lexaria will repay the full amount of the outstanding loan due
as per the following: </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>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(i) 	</TD>
	<TD>
<P align="justify">The loan repayment schedule will be converted, with an effective date of December 1, 2012, to 12 equal monthly principal payments that together will repay 100% of the principal amount, plus interest at 12% on the monthly declining
balance, in arrears; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(ii) 	</TD>
	<TD>
<P align="justify">The first payment of interest and principal shall be due on January 1, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iii) 	</TD>
	<TD>
<P align="justify">In recognition of the 12-month extension of repayment being granted by the Lender to Lexaria, Lexaria agrees to pay a one-time bonus interest payment of 6% of the principal amount that is outstanding as of December 1, 2012, and to
submit this one-time payment not later than January 25, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iv) 	</TD>
	<TD>
<P align="justify">If during any period of time prior to the full repayment of the principal amount, Lexaria is in arrears on the monthly interest and principal payments for 90 days, then the interest rate outstanding on all unpaid principal amounts
at that time will be increased to 18%; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(v) 	</TD>
	<TD>
<P align="justify">If Lexaria makes capital investments cumulatively exceeding &#36;50,000 prior to that time when full repayment of the loan has occurred, then Lexaria will grant a lien to the Lender on all such capital investments; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vi) 	</TD>
	<TD>
<P align="justify">If Lexaria should drill any new well(s) in the Belmont Lake Oil Field prior to that time when full repayment of the loan has occurred, then the Lender shall have the right, upon 30 days notice from Lexaria, to financially
participate in that well under the same terms and conditions as Lexaria, as to the Lender&#146;s <B>pro-rata portion of a cumulative total </B>of &#36;930,000, which is the total amount of loans being amended under the terms of this
Agreement, and limited to all Lenders cumulatively to not more than 30% of Lexaria&#146;s interest in any new well(s); and,</P>
	</TD>
</TR>
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD>
&nbsp;</TD>
</TR>
</TABLE>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">

<!--$$/page=-->
<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%">&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD>
      &nbsp;</TD></TR>

  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(vii) </TD>
    <TD>
      <P align=justify>The rights granted to the Lender under Section (4)(vi),
      above, are transferable only with the written approval, in advance, of
      Lexaria; and,</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(viii) </TD>
    <TD>
      <P align=justify>Lexaria retains the right to repay the Loan in full in
      advance of December 1, 2013 at any time along with the interest due as of
      the day of full repayment, this right does not negate the rights of
      Section (4)(iii).</P></TD></TR></TABLE>
<P align=justify style="text-indent: 5%">(5) This Agreement 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>
<P align=justify style="text-indent: 5%">(6) The Agreement may be executed in one or more counterparts,
all of which will be considered one and the same Agreement and will become
effective when one or more 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>
<P align=justify style="text-indent: 5%">(7) This Agreement may be executed by delivery of executed
signature pages by fax or by scan and email, and such execution will be
effective for all purposes. </P>
<P align=justify style="text-indent: 5%">IN WITNESS WHEREOF the parties have executed this Agreement as
of the day and year first written above. <BR>
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD align=left width="5%"  >&nbsp;</TD>
    <TD align=left width="40%" ><b>LEXARIA CORP</b></TD>
    <TD align=left width="50%" ><b>LENDER</b></TD></TR>
  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="40%" >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD align=left width="5%"  >&nbsp;</TD>
    <TD align=left width="40%" >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="40%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________</TD>
    <TD align=left width="50%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="40%">&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Authorized Signatory
    </TD></TR>
  <TR>
    <TD width="5%" >&nbsp; </TD>
    <TD width="40%">&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="40%">Name:&nbsp;&nbsp; Bal Bhullar </TD>
    <TD align=left width="50%">Name: </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="40%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CFO, Director </TD>
    <TD align=left width="50%">Title: </TD></TR></TABLE>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 height="76">

  <TR vAlign=top>
    <TD align=left height="16" width="5%" > </TD>
    <TD align=left width="42%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________</TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" width="5%" >&nbsp; </TD>
    <TD align=left
      width="42%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory
    </TD></TR>
  <TR>
    <TD height="15" width="5%" >&nbsp; </TD>
    <TD width="95%" height="15">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" width="5%" > </TD>
    <TD align=left width="95%" height="15">Name:&nbsp;&nbsp; Chris Bunka </TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" width="5%" > </TD>
    <TD align=left width="95%" height="15">Title:&nbsp;&nbsp;&nbsp;&nbsp; CEO, Director </TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" width="5%" > </TD>
    <TD align=left width="95%" height="15"> </TD></TR></TABLE>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">

<!--$$/page=--><A name=page_1></A>
<P align=center><B>AMENDMENT TO EXISTING AGREEMENT</B></P>
<P align=justify><B>THIS AMENDMENT</B> (the &#147;<B>Agreement</B>&#148;) is made
effective as of this 22<SUP>th</SUP> day of November, 2012</P>
<P align=justify><B>BETWEEN</B>:<BR></P>
<P style="MARGIN-LEFT: 10%" 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: 10%" align=justify>(the &#147;<B>Company,</B>&#148; or,
&#147;<B>Lexaria</B>&#148;)<BR></P>
<P align=justify><B>AND</B>:<BR></P>
<P style="MARGIN-LEFT: 10%" align=justify>David DeMartini <BR>11714 Spriggs
Way<BR>Houston, TX<BR>77024</P>
<P style="MARGIN-LEFT: 10%" align=justify>(the &#147;<B>Lender</B>&#148;)</P>
<P style="MARGIN-LEFT: 10%" align=justify><B>WHEREAS</B>:<BR></P>
<P align=justify>Article 1 - The Lender has previously loaned US$50,000 to
Lexaria through a secured convertible debenture with a maturity date of November
30, 2012 (the &#147;<B>Initial Agreement</B>&#148;) and both Lexaria and the Lender agree
to amend the terms, by way of this Agreement, under which those funds are
loaned; </P>
<P align=justify>Article 2 - Lexaria is attempting, along with third-party
co-owners, to sell its interest in the Belmont Lake Oil Field for cash
consideration and to use the proceeds to pay 100% of the loaned amount, with
interest, to the Lender; </P>
<P align=justify>Article 3 - The viability of selling the Belmont Lake Oil Field
interests, and the timing of a potential sale, is beyond Lexaria&#146;s control,
necessitating new provisions for the repayment of the loaned funds. </P>
<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>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<P align=justify style="text-indent: 5%">(1) All of the terms, conditions and obligations of the Initial
Agreement remain valid and in force for the period of time that this Amendment
is effective except for those terms, conditions and obligations that are
specifically amended by way of this Agreement. </P>
<P align=justify style="text-indent: 5%">(2) The December 1, 2012 interest payment for the month of
November 2012 will be made normally as per the Initial Agreement. </P>
<P align=justify style="text-indent: 5%">(3) If the Belmont Lake Oil Field interests have been sold and
the transaction has closed including all funds from the transaction received by
Lexaria prior to December 31, 2012 (the &#147;<B>Closing</B>&#148;), then Lexaria will
repay prior to January 25, 2013, the full amount of the outstanding loan due at
the time of the Closing, including all the normal interest due up to the
Closing, plus a bonus payment of an additional 30-days interest payment. </P>
<P align=justify style="text-indent: 5%">(4) If the Belmont Lake Oil Field interests have been sold and
the transaction closes <B>after</B> December 31, 2012, or if the Belmont Lake
Oil Field interests do <B>not</B> sell, then Lexaria will repay the full amount
of the outstanding loan due as per the following: </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%" >&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>The loan repayment schedule will be converted, with an
      effective date of December 1, 2012, to 12 equal monthly principal payments
      that together will repay 100% of the principal amount, plus interest at
      12% on the monthly declining balance, in arrears; and,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>The first payment of interest and principal shall be due
      on January 1, 2013; and,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>In recognition of the 12-month extension of repayment
      being granted by the Lender to Lexaria, Lexaria agrees to pay a one-time
      bonus interest payment of 6% of the principal amount that is outstanding
      as of December 1, 2012, and to submit this one-time payment not later than
      January 25, 2013; and,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>If during any period of time prior to the full repayment
      of the principal amount, Lexaria is in arrears on the monthly interest and
      principal payments for 90 days, then the interest rate outstanding on all
      unpaid principal amounts at that time will be increased to 18%;
  and,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>If Lexaria makes capital investments cumulatively
      exceeding $50,000 prior to that time when full repayment of the loan has
      occurred, then Lexaria will grant a lien to the Lender on all such capital
      investments; and,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(vi) </TD>
    <TD>
      <P align=justify>If Lexaria should drill any new well(s) in the Belmont
      Lake Oil Field prior to that time when full repayment of the loan has
      occurred, then the Lender shall have the right, upon 30 days notice from
      Lexaria, to financially participate in that well under the same terms and
      conditions as Lexaria, as to the Lender&#146;s <B>pro-rata
      portion of a cumulative total </B>of $930,000, which is the total amount
      of loans being amended under the terms of this Agreement, and limited to
      all Lenders cumulatively to not more than 30% of Lexaria&#146;s interest in any
      new well(s); and,</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD>
      &nbsp;</TD></TR></TABLE>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=-->
<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%" >&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD>
      &nbsp;</TD></TR>

  <TR>
    <TD vAlign=top width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(vii) </TD>
    <TD>
      <P align=justify>The rights granted to the Lender under Section (4)(vi),
      above, are transferable only with the written approval, in advance, of
      Lexaria; and,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(viii) </TD>
    <TD>
      <P align=justify>Lexaria retains the right to repay the Loan in full in
      advance of December 1, 2013 at any time along with the interest due as of
      the day of full repayment, this right does not negate the rights of
      Section (4)(iii).</P></TD></TR></TABLE>
<P align=justify style="text-indent: 5%">(5) This Agreement 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>
<P align=justify style="text-indent: 5%">(6) The Agreement may be executed in one or more counterparts,
all of which will be considered one and the same Agreement and will become
effective when one or more 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>
<P align=justify style="text-indent: 5%">(7) This Agreement may be executed by delivery of executed
signature pages by fax or by scan and email, and such execution will be
effective for all purposes. </P>
<P align=justify style="text-indent: 5%">IN WITNESS WHEREOF the parties have executed this Agreement as
of the day and year first written above. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" ><B>LEXARIA CORP</B></TD>
    <TD align=left width="50%" ><B>LENDER</B></TD></TR>
  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________</TD>
    <TD align=left width="50%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _____________________________</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="45%">&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD width="5%" >&nbsp; </TD>
    <TD width="45%">&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Name:&nbsp;&nbsp; Bal Bhullar </TD>
    <TD align=left width="50%">Name: </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CFO, Director </TD>
    <TD align=left width="50%">Title: </TD></TR></TABLE>
<BR>
<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 >&nbsp;</TD>
    <TD align=left width="95%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="95%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="95%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">Name:&nbsp;&nbsp; Chris Bunka </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CEO, Director </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">&nbsp;</TD></TR></TABLE>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>


<!--$$/page=-->
<A name="page_1"></A>

<P align="center">
<B>AMENDMENT TO EXISTING AGREEMENT</B></P>
<P align="justify">
<B>THIS AMENDMENT</B> (the &#147;<B>Agreement</B>&#148;) is made effective as of this 22<SUP>th</SUP> day of November, 2012</P>
<P align="justify">
<B>BETWEEN</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
<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<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Company,</B>&#148; or, &#147;<B>Lexaria</B>&#148;)<BR>
</P>
<P align="justify">
<B>AND</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
Emerald Atlantic, LLC<BR>
11714 Spriggs Way <BR>
Houston, TX <br>
77024<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Lender</B>&#148;)<BR>
</P>
<P align="justify">
<B>WHEREAS</B>:<BR>
</P>
<P align="justify">
Article 1 - The Lender has previously loaned US&#36;120,000 to Lexaria through a secured convertible debenture with a maturity date of November 30, 2012 (the &#147;<B>Initial Agreement</B>&#148;) and both Lexaria and the Lender agree to amend the
terms, by way of this Agreement, under which those funds are loaned; </P>
<P align="justify">
Article 2 - Lexaria is attempting, along with third-party co-owners, to sell its interest in the Belmont Lake Oil Field for cash consideration and to use the proceeds to pay 100% of the loaned amount, with interest, to the Lender; </P>
<P align="justify">
Article 3 - The viability of selling the Belmont Lake Oil Field interests, and the timing of a potential sale, is beyond Lexaria&#146;s control, necessitating new provisions for the repayment of the loaned funds. </P>
<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>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



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

<P align="justify" style="text-indent: 5%">
(1) All of the terms, conditions and obligations of the Initial Agreement remain valid and in force for the period of time that this Amendment is effective except for those terms, conditions and obligations that are specifically amended by way of
this Agreement. </P>
<P align="justify" style="text-indent: 5%">
(2) The December 1, 2012 interest payment for the month of November 2012 will be made normally as per the Initial Agreement. </P>
<P align="justify" style="text-indent: 5%">
(3) If the Belmont Lake Oil Field interests have been sold and the transaction has closed including all funds from the transaction received by Lexaria prior to December 31, 2012 (the &#147;<B>Closing</B>&#148;), then Lexaria will repay prior to
January 25, 2013, the full amount of the outstanding loan due at the time of the Closing, including all the normal interest due up to the Closing, plus a bonus payment of an additional 30-days interest payment. </P>
<P align="justify" style="text-indent: 5%">
(4) If the Belmont Lake Oil Field interests have been sold and the transaction closes <B>after</B> December 31, 2012, or if the Belmont Lake Oil Field interests do <B>not</B> sell, then Lexaria will repay the full amount of the outstanding loan due
as per the following: </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>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(i) 	</TD>
	<TD>
<P align="justify">The loan repayment schedule will be converted, with an effective date of December 1, 2012, to 12 equal monthly principal payments that together will repay 100% of the principal amount, plus interest at 12% on the monthly declining
balance, in arrears; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(ii) 	</TD>
	<TD>
<P align="justify">The first payment of interest and principal shall be due on January 1, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iii) 	</TD>
	<TD>
<P align="justify">In recognition of the 12-month extension of repayment being granted by the Lender to Lexaria, Lexaria agrees to pay a one-time bonus interest payment of 6% of the principal amount that is outstanding as of December 1, 2012, and to
submit this one-time payment not later than January 25, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iv) 	</TD>
	<TD>
<P align="justify">If during any period of time prior to the full repayment of the principal amount, Lexaria is in arrears on the monthly interest and principal payments for 90 days, then the interest rate outstanding on all unpaid principal amounts
at that time will be increased to 18%; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(v) 	</TD>
	<TD>
<P align="justify">If Lexaria makes capital investments cumulatively exceeding &#36;50,000 prior to that time when full repayment of the loan has occurred, then Lexaria will grant a lien to the Lender on all such capital investments; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vi) 	</TD>
	<TD>
<P align="justify">If Lexaria should drill any new well(s) in the Belmont Lake Oil Field prior to that time when full repayment of the loan has occurred, then the Lender shall have the right, upon 30 days notice from Lexaria, to financially
participate in that well under the same terms and conditions as Lexaria, as to the Lender&#146;s <B>pro-rata portion of a cumulative total </B>of &#36;930,000, which is the total amount of loans being amended under the terms of this
Agreement, and limited to all Lenders cumulatively to not more than 30% of Lexaria&#146;s interest in any new well(s); and,</P>
	</TD>
</TR>
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD>
&nbsp;</TD>
</TR>
</TABLE>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



<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 width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vii) 	</TD>
	<TD>
<P align="justify">The rights granted to the Lender under Section (4)(vi), above, are transferable only with the written approval, in advance, of Lexaria; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(viii) 	</TD>
	<TD>
<P align="justify">Lexaria retains the right to repay the Loan in full in advance of December 1, 2013 at any time along with the interest due as of the day of full repayment, this right does not negate the rights of Section (4)(iii).</P>
	</TD>
</TR>
</TABLE>
<P align="justify" style="text-indent: 5%">
(5) This Agreement 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>
<P align="justify" style="text-indent: 5%">
(6) The Agreement may be executed in one or more counterparts, all of which will be considered one and the same Agreement and will become effective when one or more 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>
<P align="justify" style="text-indent: 5%">
(7) This Agreement may be executed by delivery of executed signature pages by fax or by scan and email, and such execution will be effective for all purposes. </P>
<P align="justify" style="text-indent: 5%">
IN WITNESS WHEREOF the parties have executed this Agreement as of the day and year first written above. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" ><B>LEXARIA CORP</B></TD>
    <TD align=left width="50%" ><B>LENDER</B></TD></TR>
  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________</TD>
    <TD align=left width="50%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _____________________________</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="45%">&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD width="5%" >&nbsp; </TD>
    <TD width="45%">&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Name:&nbsp;&nbsp; Bal Bhullar </TD>
    <TD align=left width="50%">Name: </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CFO, Director </TD>
    <TD align=left width="50%">Title: </TD></TR></TABLE>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 height="88">

  <TR vAlign=top>
    <TD align=left height="13" > </TD>
    <TD align=left width="95%" height="13">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________</TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" >&nbsp; </TD>
    <TD align=left width="95%" height="15">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD height="15" >&nbsp; </TD>
    <TD width="95%" height="15">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" > </TD>
    <TD align=left width="95%" height="15">Name:&nbsp;&nbsp; Chris Bunka </TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" >&nbsp;</TD>
    <TD align=left width="95%" height="15">Title:&nbsp;&nbsp;&nbsp;&nbsp; CEO, Director </TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" ></TD>
    <TD align=left width="95%" height="15"></TD></TR></TABLE>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



<!--$$/page=-->
<A name="page_1"></A>

<P align="center">
<B>AMENDMENT TO EXISTING AGREEMENT</B></P>
<P align="justify">
<B>THIS AMENDMENT</B> (the &#147;<B>Agreement</B>&#148;) is made effective as of this 22<SUP>th</SUP> day of November, 2012</P>
<P align="justify">
<B>BETWEEN</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
<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<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Company,</B>&#148; or, &#147;<B>Lexaria</B>&#148;)<BR>
</P>
<P align="justify">
<B>AND</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
Fred Hoffman <BR>
2023 Bissonnet Street<BR>
Houston, TX <br>
7005-164<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Lender</B>&#148;)<BR>
</P>
<P align="justify">
<B>WHEREAS</B>:<BR>
</P>
<P align="justify">
Article 1 - The Lender has previously loaned US&#36;50,000 to Lexaria through a secured convertible debenture with a maturity date of November 30, 2012 (the &#147;<B>Initial Agreement</B>&#148;) and both Lexaria and the Lender agree to amend the
terms, by way of this Agreement, under which those funds are loaned; </P>
<P align="justify">
Article 2 - Lexaria is attempting, along with third-party co-owners, to sell its interest in the Belmont Lake Oil Field for cash consideration and to use the proceeds to pay 100% of the loaned amount, with interest, to the Lender; </P>
<P align="justify">
Article 3 - The viability of selling the Belmont Lake Oil Field interests, and the timing of a potential sale, is beyond Lexaria&#146;s control, necessitating new provisions for the repayment of the loaned funds. </P>
<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>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



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

<P align="justify" style="text-indent: 5%">
(1) All of the terms, conditions and obligations of the Initial Agreement remain valid and in force for the period of time that this Amendment is effective except for those terms, conditions and obligations that are specifically amended by way of
this Agreement. </P>
<P align="justify" style="text-indent: 5%">
(2) The December 1, 2012 interest payment for the month of November 2012 will be made normally as per the Initial Agreement. </P>
<P align="justify" style="text-indent: 5%">
(3) If the Belmont Lake Oil Field interests have been sold and the transaction has closed including all funds from the transaction received by Lexaria prior to December 31, 2012 (the &#147;<B>Closing</B>&#148;), then Lexaria will repay prior to
January 25, 2013, the full amount of the outstanding loan due at the time of the Closing, including all the normal interest due up to the Closing, plus a bonus payment of an additional 30-days interest payment. </P>
<P align="justify" style="text-indent: 5%">
(4) If the Belmont Lake Oil Field interests have been sold and the transaction closes <B>after</B> December 31, 2012, or if the Belmont Lake Oil Field interests do <B>not</B> sell, then Lexaria will repay the full amount of the outstanding loan due
as per the following: </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>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(i) 	</TD>
	<TD>
<P align="justify">The loan repayment schedule will be converted, with an effective date of December 1, 2012, to 12 equal monthly principal payments that together will repay 100% of the principal amount, plus interest at 12% on the monthly declining
balance, in arrears; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(ii) 	</TD>
	<TD>
<P align="justify">The first payment of interest and principal shall be due on January 1, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iii) 	</TD>
	<TD>
<P align="justify">In recognition of the 12-month extension of repayment being granted by the Lender to Lexaria, Lexaria agrees to pay a one-time bonus interest payment of 6% of the principal amount that is outstanding as of December 1, 2012, and to
submit this one-time payment not later than January 25, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iv) 	</TD>
	<TD>
<P align="justify">If during any period of time prior to the full repayment of the principal amount, Lexaria is in arrears on the monthly interest and principal payments for 90 days, then the interest rate outstanding on all unpaid principal amounts
at that time will be increased to 18%; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(v) 	</TD>
	<TD>
<P align="justify">If Lexaria makes capital investments cumulatively exceeding &#36;50,000 prior to that time when full repayment of the loan has occurred, then Lexaria will grant a lien to the Lender on all such capital investments; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vi) 	</TD>
	<TD>
<P align="justify">If Lexaria should drill any new well(s) in the Belmont Lake Oil Field prior to that time when full repayment of the loan has occurred, then the Lender shall have the right, upon 30 days notice from Lexaria, to financially
participate in that well under the same terms and conditions as Lexaria, as to the Lender&#146;s <B>pro-rata portion of a cumulative total </B>of &#36;930,000, which is the total amount of loans being amended under the terms of this
Agreement, and limited to all Lenders cumulatively to not more than 30% of Lexaria&#146;s interest in any new well(s); and,</P>
	</TD>
</TR>
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD>
&nbsp;</TD>
</TR>
</TABLE>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



<!--$$/page=-->
<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 width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vii) 	</TD>
	<TD>
<P align="justify">The rights granted to the Lender under Section (4)(vi), above, are transferable only with the written approval, in advance, of Lexaria; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(viii) 	</TD>
	<TD>
<P align="justify">Lexaria retains the right to repay the Loan in full in advance of December 1, 2013 at any time along with the interest due as of the day of full repayment, this right does not negate the rights of Section (4)(iii).</P>
	</TD>
</TR>
</TABLE>
<P align="justify" style="text-indent: 5%">
(5) This Agreement 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>
<P align="justify" style="text-indent: 5%">
(6) The Agreement may be executed in one or more counterparts, all of which will be considered one and the same Agreement and will become effective when one or more 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>
<P align="justify" style="text-indent: 5%">
(7) This Agreement may be executed by delivery of executed signature pages by fax or by scan and email, and such execution will be effective for all purposes. </P>
<P align="justify" style="text-indent: 5%">
IN WITNESS WHEREOF the parties have executed this Agreement as of the day and year first written above. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" ><B>LEXARIA CORP</B></TD>
    <TD align=left width="50%" ><B>LENDER</B></TD></TR>
  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________</TD>
    <TD align=left width="50%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _____________________________</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="45%">&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD width="5%" >&nbsp; </TD>
    <TD width="45%">&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Name:&nbsp;&nbsp; Bal Bhullar </TD>
    <TD align=left width="50%">Name: </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CFO, Director </TD>
    <TD align=left width="50%">Title: </TD></TR></TABLE>
<BR>
<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 >&nbsp;</TD>
    <TD align=left width="95%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="95%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="95%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">Name:&nbsp;&nbsp; Chris Bunka </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CEO, Director </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">&nbsp;</TD></TR></TABLE>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



<!--$$/page=-->
<A name="page_1"></A>

<P align="center">
<B>AMENDMENT TO EXISTING AGREEMENT</B></P>
<P align="justify">
<B>THIS AMENDMENT</B> (the &#147;<B>Agreement</B>&#148;) is made effective as of this 22<SUP>th</SUP> day of November, 2012</P>
<P align="justify">
<B>BETWEEN</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
<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<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Company,</B>&#148; or, &#147;<B>Lexaria</B>&#148;)<BR>
</P>
<P align="justify">
<B>AND</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
James Ihrke <BR>
55 Montrose Road <BR>
Mount Pleasant, SC<br>
29464<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Lender</B>&#148;)<BR>
</P>
<P align="justify">
<B>WHEREAS</B>:<BR>
</P>
<P align="justify">
Article 1 - The Lender has previously loaned US&#36;100,000 to Lexaria through a secured convertible debenture with a maturity date of November 30, 2012 (the &#147;<B>Initial Agreement</B>&#148;) and both Lexaria and the Lender agree to amend the
terms, by way of this Agreement, under which those funds are loaned; </P>
<P align="justify">
Article 2 - Lexaria is attempting, along with third-party co-owners, to sell its interest in the Belmont Lake Oil Field for cash consideration and to use the proceeds to pay 100% of the loaned amount, with interest, to the Lender; </P>
<P align="justify">
Article 3 - The viability of selling the Belmont Lake Oil Field interests, and the timing of a potential sale, is beyond Lexaria&#146;s control, necessitating new provisions for the repayment of the loaned funds. </P>
<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>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



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

<P align="justify" style="text-indent: 5%">
(1) All of the terms, conditions and obligations of the Initial Agreement remain valid and in force for the period of time that this Amendment is effective except for those terms, conditions and obligations that are specifically amended by way of
this Agreement. </P>
<P align="justify" style="text-indent: 5%">
(2) The December 1, 2012 interest payment for the month of November 2012 will be made normally as per the Initial Agreement. </P>
<P align="justify" style="text-indent: 5%">
(3) If the Belmont Lake Oil Field interests have been sold and the transaction has closed including all funds from the transaction received by Lexaria prior to December 31, 2012 (the &#147;<B>Closing</B>&#148;), then Lexaria will repay prior to
January 25, 2013, the full amount of the outstanding loan due at the time of the Closing, including all the normal interest due up to the Closing, plus a bonus payment of an additional 30-days interest payment. </P>
<P align="justify" style="text-indent: 5%">
(4) If the Belmont Lake Oil Field interests have been sold and the transaction closes <B>after</B> December 31, 2012, or if the Belmont Lake Oil Field interests do <B>not</B> sell, then Lexaria will repay the full amount of the outstanding loan due
as per the following: </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>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(i) 	</TD>
	<TD>
<P align="justify">The loan repayment schedule will be converted, with an effective date of December 1, 2012, to 12 equal monthly principal payments that together will repay 100% of the principal amount, plus interest at 12% on the monthly declining
balance, in arrears; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(ii) 	</TD>
	<TD>
<P align="justify">The first payment of interest and principal shall be due on January 1, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iii) 	</TD>
	<TD>
<P align="justify">In recognition of the 12-month extension of repayment being granted by the Lender to Lexaria, Lexaria agrees to pay a one-time bonus interest payment of 6% of the principal amount that is outstanding as of December 1, 2012, and to
submit this one-time payment not later than January 25, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iv) 	</TD>
	<TD>
<P align="justify">If during any period of time prior to the full repayment of the principal amount, Lexaria is in arrears on the monthly interest and principal payments for 90 days, then the interest rate outstanding on all unpaid principal amounts
at that time will be increased to 18%; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(v) 	</TD>
	<TD>
<P align="justify">If Lexaria makes capital investments cumulatively exceeding &#36;50,000 prior to that time when full repayment of the loan has occurred, then Lexaria will grant a lien to the Lender on all such capital investments; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vi) 	</TD>
	<TD>
<P align="justify">If Lexaria should drill any new well(s) in the Belmont Lake Oil Field prior to that time when full repayment of the loan has occurred, then the Lender shall have the right, upon 30 days notice from Lexaria, to financially
participate in that well under the same terms and conditions as Lexaria, as to the Lender&#146;s <B>pro-rata portion of a cumulative total </B>of &#36;930,000, which is the total amount of loans being amended under the terms of this
Agreement, and limited to all Lenders cumulatively to not more than 30% of Lexaria&#146;s interest in any new well(s); and,</P>
	</TD>
</TR>
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD>
&nbsp;</TD>
</TR>
</TABLE>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



<!--$$/page=-->
<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 width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vii) 	</TD>
	<TD>
<P align="justify">The rights granted to the Lender under Section (4)(vi), above, are transferable only with the written approval, in advance, of Lexaria; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(viii) 	</TD>
	<TD>
<P align="justify">Lexaria retains the right to repay the Loan in full in advance of December 1, 2013 at any time along with the interest due as of the day of full repayment, this right does not negate the rights of Section (4)(iii).</P>
	</TD>
</TR>
</TABLE>
<P align="justify" style="text-indent: 5%">
(5) This Agreement 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>
<P align="justify" style="text-indent: 5%">
(6) The Agreement may be executed in one or more counterparts, all of which will be considered one and the same Agreement and will become effective when one or more 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>
<P align="justify" style="text-indent: 5%">
(7) This Agreement may be executed by delivery of executed signature pages by fax or by scan and email, and such execution will be effective for all purposes. </P>
<P align="justify" style="text-indent: 5%">
IN WITNESS WHEREOF the parties have executed this Agreement as of the day and year first written above. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" ><B>LEXARIA CORP</B></TD>
    <TD align=left width="50%" ><B>LENDER</B></TD></TR>
  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________</TD>
    <TD align=left width="50%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _____________________________</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="45%">&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD width="5%" >&nbsp; </TD>
    <TD width="45%">&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Name:&nbsp;&nbsp; Bal Bhullar </TD>
    <TD align=left width="50%">Name: </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CFO, Director </TD>
    <TD align=left width="50%">Title: </TD></TR></TABLE>
<BR>
<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 >&nbsp;</TD>
    <TD align=left width="95%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="95%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="95%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">Name:&nbsp;&nbsp; Chris Bunka </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CEO, Director </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">&nbsp;</TD></TR></TABLE>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



<!--$$/page=-->
<A name="page_1"></A>

<P align="center">
<B>AMENDMENT TO EXISTING AGREEMENT</B></P>
<P align="justify">
<B>THIS AMENDMENT</B> (the &#147;<B>Agreement</B>&#148;) is made effective as of this 22<SUP>th</SUP> day of November, 2012</P>
<P align="justify">
<B>BETWEEN</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
<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<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Company,</B>&#148; or, &#147;<B>Lexaria</B>&#148;)<BR>
</P>
<P align="justify">
<B>AND</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
Mathew Ihrke <BR>
2850 Cherry Lane<BR>
Northbrook, IL <br>
60062<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Lender</B>&#148;)<BR>
</P>
<P align="justify">
<B>WHEREAS</B>:<BR>
</P>
<P align="justify">
Article 1 - The Lender has previously loaned US&#36;50,000 to Lexaria through a secured convertible debenture with a maturity date of November 30, 2012 (the &#147;<B>Initial Agreement</B>&#148;) and both Lexaria and the Lender agree to amend the
terms, by way of this Agreement, under which those funds are loaned; </P>
<P align="justify">
Article 2 - Lexaria is attempting, along with third-party co-owners, to sell its interest in the Belmont Lake Oil Field for cash consideration and to use the proceeds to pay 100% of the loaned amount, with interest, to the Lender; </P>
<P align="justify">
Article 3 - The viability of selling the Belmont Lake Oil Field interests, and the timing of a potential sale, is beyond Lexaria&#146;s control, necessitating new provisions for the repayment of the loaned funds. </P>
<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>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



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

<P align="justify" style="text-indent: 5%">
(1) All of the terms, conditions and obligations of the Initial Agreement remain valid and in force for the period of time that this Amendment is effective except for those terms, conditions and obligations that are specifically amended by way of
this Agreement. </P>
<P align="justify" style="text-indent: 5%">
(2) The December 1, 2012 interest payment for the month of November 2012 will be made normally as per the Initial Agreement. </P>
<P align="justify" style="text-indent: 5%">
(3) If the Belmont Lake Oil Field interests have been sold and the transaction has closed including all funds from the transaction received by Lexaria prior to December 31, 2012 (the &#147;<B>Closing</B>&#148;), then Lexaria will repay prior to
January 25, 2013, the full amount of the outstanding loan due at the time of the Closing, including all the normal interest due up to the Closing, plus a bonus payment of an additional 30-days interest payment. </P>
<P align="justify" style="text-indent: 5%">
(4) If the Belmont Lake Oil Field interests have been sold and the transaction closes <B>after</B> December 31, 2012, or if the Belmont Lake Oil Field interests do <B>not</B> sell, then Lexaria will repay the full amount of the outstanding loan due
as per the following: </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>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(i) 	</TD>
	<TD>
<P align="justify">The loan repayment schedule will be converted, with an effective date of December 1, 2012, to 12 equal monthly principal payments that together will repay 100% of the principal amount, plus interest at 12% on the monthly declining
balance, in arrears; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(ii) 	</TD>
	<TD>
<P align="justify">The first payment of interest and principal shall be due on January 1, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iii) 	</TD>
	<TD>
<P align="justify">In recognition of the 12-month extension of repayment being granted by the Lender to Lexaria, Lexaria agrees to pay a one-time bonus interest payment of 6% of the principal amount that is outstanding as of December 1, 2012, and to
submit this one-time payment not later than January 25, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iv) 	</TD>
	<TD>
<P align="justify">If during any period of time prior to the full repayment of the principal amount, Lexaria is in arrears on the monthly interest and principal payments for 90 days, then the interest rate outstanding on all unpaid principal amounts
at that time will be increased to 18%; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(v) 	</TD>
	<TD>
<P align="justify">If Lexaria makes capital investments cumulatively exceeding &#36;50,000 prior to that time when full repayment of the loan has occurred, then Lexaria will grant a lien to the Lender on all such capital investments; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vi) 	</TD>
	<TD>
<P align="justify">If Lexaria should drill any new well(s) in the Belmont Lake Oil Field prior to that time when full repayment of the loan has occurred, then the Lender shall have the right, upon 30 days notice from Lexaria, to financially
participate in that well under the same terms and conditions as Lexaria, as to the Lender&#146;s <B>pro-rata portion of a cumulative total </B>of &#36;930,000, which is the total amount of loans being amended under the terms of this
Agreement, and limited to all Lenders cumulatively to not more than 30% of Lexaria&#146;s interest in any new well(s); and,</P>
	</TD>
</TR>
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD>
&nbsp;</TD>
</TR>
</TABLE>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



<!--$$/page=-->
<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 width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vii) 	</TD>
	<TD>
<P align="justify">The rights granted to the Lender under Section (4)(vi), above, are transferable only with the written approval, in advance, of Lexaria; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(viii) 	</TD>
	<TD>
<P align="justify">Lexaria retains the right to repay the Loan in full in advance of December 1, 2013 at any time along with the interest due as of the day of full repayment, this right does not negate the rights of Section (4)(iii).</P>
	</TD>
</TR>
</TABLE>
<P align="justify" style="text-indent: 5%">
(5) This Agreement 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>
<P align="justify" style="text-indent: 5%">
(6) The Agreement may be executed in one or more counterparts, all of which will be considered one and the same Agreement and will become effective when one or more 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>
<P align="justify" style="text-indent: 5%">
(7) This Agreement may be executed by delivery of executed signature pages by fax or by scan and email, and such execution will be effective for all purposes. </P>
<P align="justify" style="text-indent: 5%">
IN WITNESS WHEREOF the parties have executed this Agreement as of the day and year first written above. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" ><B>LEXARIA CORP</B></TD>
    <TD align=left width="50%" ><B>LENDER</B></TD></TR>
  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________</TD>
    <TD align=left width="50%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _____________________________</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="45%">&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD width="5%" >&nbsp; </TD>
    <TD width="45%">&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Name:&nbsp;&nbsp; Bal Bhullar </TD>
    <TD align=left width="50%">Name: </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CFO, Director </TD>
    <TD align=left width="50%">Title: </TD></TR></TABLE>
<BR>
<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 >&nbsp;</TD>
    <TD align=left width="95%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="95%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="95%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">Name:&nbsp;&nbsp; Chris Bunka </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CEO, Director </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">&nbsp;</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=5 color="black">


<!--$$/page=-->
<A name="page_1"></A>

<P align="center">
<B>AMENDMENT TO EXISTING AGREEMENT</B></P>
<P align="justify">
<B>THIS AMENDMENT</B> (the &#147;<B>Agreement</B>&#148;) is made effective as of this 22<SUP>th</SUP> day of November, 2012</P>
<P align="justify">
<B>BETWEEN</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
<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&nbsp;
4A4<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Company,</B>&#148; or, &#147;<B>Lexaria</B>&#148;)<BR>
</P>
<P align="justify">
<B>AND</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
Morgan Bunka <BR>
2316 Bella Vista Street<BR>
Kelowna BC<br>
V1P 1S1<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Lender</B>&#148;)<BR>
</P>
<P align="justify">
<B>WHEREAS</B>:<BR>
</P>
<P align="justify">
Article 1 - The Lender has previously loaned CDN&#36;110,000 to Lexaria through a note dated October 21, 2010 payable on a month-to-month basis (the &#147;<B>Amended Agreement</B>&#148;) and both Lexaria and the Lender agree to amend the terms, by
way of this Agreement, under which those funds are loaned; </P>
<P align="justify">
Article 2 - Lexaria is attempting, along with third-party co-owners, to sell its interest in the Belmont Lake Oil Field for cash consideration and to use the proceeds to pay 100% of the loaned amount, with interest, to the Lender; </P>
<P align="justify">
Article 3 - The viability of selling the Belmont Lake Oil Field interests, and the timing of a potential sale, is beyond Lexaria&#146;s control, necessitating new provisions for the repayment of the loaned funds. </P>
<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>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



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

<P align="justify" style="text-indent: 5%">
(1) All of the terms, conditions and obligations of the Initial Agreement remain valid and in force for the period of time that this Amendment is effective except for those terms, conditions and obligations that are specifically amended by way of
this Agreement. </P>
<P align="justify" style="text-indent: 5%">
(2) The November 2012 interest payment for the month of November 2012 will be made normally as per the Initial Agreement. </P>
<P align="justify" style="text-indent: 5%">
(3) If the Belmont Lake Oil Field interests have been sold and the transaction has closed including all funds from the transaction received by Lexaria prior to December 31, 2012 (the &#147;<B>Closing</B>&#148;), then Lexaria will repay prior to
January 25, 2013, the full amount of the outstanding loan due at the time of the Closing, including all the normal interest due up to the Closing, plus a bonus payment of an additional 30-days interest payment. </P>
<P align="justify" style="text-indent: 5%">
(4) If the Belmont Lake Oil Field interests have been sold and the transaction closes <B>after</B> December 31, 2012, or if the Belmont Lake Oil Field interests do <B>not</B> sell, then Lexaria will repay the full amount of the outstanding loan due
as per the following: </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>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(i) 	</TD>
	<TD>
<P align="justify">The loan repayment schedule will be converted, with an effective date of November 27, 2012, to 12 equal monthly principal payments that together will repay 100% of the principal amount, plus interest at 18% on the monthly
declining balance, in arrears; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(ii) 	</TD>
	<TD>
<P align="justify">The first payment of interest and principal shall be due on January 1, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iii) 	</TD>
	<TD>
<P align="justify">In recognition of the 12-month extension of repayment being granted by the Lender to Lexaria, Lexaria agrees to pay a one-time bonus interest payment of 6% of the principal amount that is outstanding as of November 27, 2012, and
to submit this one-time payment not later than January 25, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iv) 	</TD>
	<TD>
<P align="justify">If during any period of time prior to the full repayment of the principal amount, Lexaria is in arrears on the monthly interest and principal payments for 90 days, then the interest rate outstanding on all unpaid principal amounts
at that time will be increased to 18%; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(v) 	</TD>
	<TD>
<P align="justify">If Lexaria makes capital investments cumulatively exceeding &#36;50,000 prior to that time when full repayment of the loan has occurred, then Lexaria will grant a lien to the Lender on all such capital investments; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vi) 	</TD>
	<TD>
<P align="justify">If Lexaria should drill any new well(s) in the Belmont Lake Oil Field prior to that time when full repayment of the loan has occurred, then the Lender shall have the right, upon 30 days notice from Lexaria, to financially
participate in that well under the same terms and conditions as Lexaria, as to the Lender&#146;s <B>pro-rata portion of a cumulative total </B>of &#36;930,000, which is the total amount of loans being amended under the terms of this
Agreement, and limited to all Lenders cumulatively to not more than 30% of Lexaria&#146;s interest in any new well(s); and,</P>
	</TD>
</TR>
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD>
&nbsp;</TD>
</TR>
</TABLE>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



<!--$$/page=-->
<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 width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vii) 	</TD>
	<TD>
<P align="justify">The rights granted to the Lender under Section (4)(vi), above, are transferable only with the written approval, in advance, of Lexaria; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(viii) 	</TD>
	<TD>
<P align="justify">Lexaria retains the right to repay the Loan in full in advance of November 27, 2013 at any time along with the interest due as of the day of full repayment, this right does not negate the rights of Section (4)(iii).</P>
	</TD>
</TR>
</TABLE>
<P align="justify" style="text-indent: 5%">
(5) This Agreement 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>
<P align="justify" style="text-indent: 5%">
(6) The Agreement may be executed in one or more counterparts, all of which will be considered one and the same Agreement and will become effective when one or more 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>
<P align="justify" style="text-indent: 5%">
(7) This Agreement may be executed by delivery of executed signature pages by fax or by scan and email, and such execution will be effective for all purposes. </P>
<P align="justify" style="text-indent: 5%">
IN WITNESS WHEREOF the parties have executed this Agreement as of the day and year first written above. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" ><B>LEXARIA CORP</B></TD>
    <TD align=left width="50%" ><B>LENDER</B></TD></TR>
  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________</TD>
    <TD align=left width="50%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _____________________________</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="45%">&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD width="5%" >&nbsp; </TD>
    <TD width="45%">&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Name:&nbsp;&nbsp; Bal Bhullar </TD>
    <TD align=left width="50%">Name: </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CFO, Director </TD>
    <TD align=left width="50%">Title: </TD></TR></TABLE>
<BR>
<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 >&nbsp;</TD>
    <TD align=left width="95%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="95%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="95%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">Name:&nbsp;&nbsp; Chris Bunka </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CEO, Director </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">&nbsp;</TD></TR></TABLE>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



<!--$$/page=-->
<A name="page_1"></A>

<P align="center">
<B>AMENDMENT TO EXISTING AGREEMENT</B></P>
<P align="justify">
<B>THIS AMENDMENT</B> (the &#147;<B>Agreement</B>&#148;) is made effective as of this 22<SUP>th</SUP> day of November, 2012</P>
<P align="justify">
<B>BETWEEN</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
<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<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Company,</B>&#148; or, &#147;<B>Lexaria</B>&#148;)<BR>
</P>
<P align="justify">
<B>AND</B>:<BR>
</P>
<P align="justify" style="margin-left: 10%">
David DeMartini <BR>
11714 Spriggs Way<BR>
Houston, TX<br>
77024<BR>
</P>
<P align="justify" style="margin-left: 10%">
(the &#147;<B>Lender</B>&#148;)<BR>
</P>
<P align="justify">
<B>WHEREAS</B>:<BR>
</P>
<P align="justify">
Article 1 - The Lender has previously loaned US&#36;100,000 to Lexaria through a secured convertible debenture with a maturity date of December 1, 2012 (the &#147;<B>Initial Agreement</B>&#148;) and both Lexaria and the Lender agree to amend the
terms, by way of this Agreement, under which those funds are loaned; </P>
<P align="justify">
Article 2 - Lexaria is attempting, along with third-party co-owners, to sell its interest in the Belmont Lake Oil Field for cash consideration and to use the proceeds to pay 100% of the loaned amount, with interest, to the Lender; </P>
<P align="justify">
Article 3 - The viability of selling the Belmont Lake Oil Field interests, and the timing of a potential sale, is beyond Lexaria&#146;s control, necessitating new provisions for the repayment of the loaned funds. </P>
<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>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



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

<P align="justify" style="text-indent: 5%">
(1) All of the terms, conditions and obligations of the Initial Agreement remain valid and in force for the period of time that this Amendment is effective except for those terms, conditions and obligations that are specifically amended by way of
this Agreement. </P>
<P align="justify" style="text-indent: 5%">
(2) The December 1, 2012 interest payment for the month of November 2012 will be made normally as per the Initial Agreement. </P>
<P align="justify" style="text-indent: 5%">
(3) If the Belmont Lake Oil Field interests have been sold and the transaction has closed including all funds from the transaction received by Lexaria prior to December 31, 2012 (the &#147;<B>Closing</B>&#148;), then Lexaria will repay prior to
January 25, 2013, the full amount of the outstanding loan due at the time of the Closing, including all the normal interest due up to the Closing, plus a bonus payment of an additional 30-days interest payment. </P>
<P align="justify" style="text-indent: 5%">
(4) If the Belmont Lake Oil Field interests have been sold and the transaction closes <B>after</B> December 31, 2012, or if the Belmont Lake Oil Field interests do <B>not</B> sell, then Lexaria will repay the full amount of the outstanding loan due
as per the following: </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>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(i) 	</TD>
	<TD>
<P align="justify">The loan repayment schedule will be converted, with an effective date of December 1, 2012, to 12 equal monthly principal payments that together will repay 100% of the principal amount, plus interest at 12% on the monthly declining
balance, in arrears; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(ii) 	</TD>
	<TD>
<P align="justify">The first payment of interest and principal shall be due on January 1, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iii) 	</TD>
	<TD>
<P align="justify">In recognition of the 12-month extension of repayment being granted by the Lender to Lexaria, Lexaria agrees to pay a one-time bonus interest payment of 6% of the principal amount that is outstanding as of December 1, 2012, and to
submit this one-time payment not later than January 25, 2013; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(iv) 	</TD>
	<TD>
<P align="justify">If during any period of time prior to the full repayment of the principal amount, Lexaria is in arrears on the monthly interest and principal payments for 90 days, then the interest rate outstanding on all unpaid principal amounts
at that time will be increased to 18%; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(v) 	</TD>
	<TD>
<P align="justify">If Lexaria makes capital investments cumulatively exceeding &#36;50,000 prior to that time when full repayment of the loan has occurred, then Lexaria will grant a lien to the Lender on all such capital investments; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vi) 	</TD>
	<TD>
<P align="justify">If Lexaria should drill any new well(s) in the Belmont Lake Oil Field prior to that time when full repayment of the loan has occurred, then the Lender shall have the right, upon 30 days notice from Lexaria, to financially
participate in that well under the same terms and conditions as Lexaria, as to the Lender&#146;s <B>pro-rata portion of a cumulative total </B>of &#36;930,000, which is the total amount of loans being amended under the terms of this
Agreement, and limited to all Lenders cumulatively to not more than 30% of Lexaria&#146;s interest in any new well(s); and,</P>
	</TD>
</TR>
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD>
&nbsp;</TD>
</TR>
</TABLE>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">



<!--$$/page=-->
<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 width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(vii) 	</TD>
	<TD>
<P align="justify">The rights granted to the Lender under Section (4)(vi), above, are transferable only with the written approval, in advance, of Lexaria; and,</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
&nbsp;</TD>
	<TD width=5% valign=top>
(viii) 	</TD>
	<TD>
<P align="justify">Lexaria retains the right to repay the Loan in full in advance of December 1, 2013 at any time along with the interest due as of the day of full repayment, this right does not negate the rights of Section (4)(iii).</P>
	</TD>
</TR>
</TABLE>
<P align="justify" style="text-indent: 5%">
(5) This Agreement 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>
<P align="justify" style="text-indent: 5%">
(6) The Agreement may be executed in one or more counterparts, all of which will be considered one and the same Agreement and will become effective when one or more 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>
<P align="justify" style="text-indent: 5%">
(7) This Agreement may be executed by delivery of executed signature pages by fax or by scan and email, and such execution will be effective for all purposes. </P>
<P align="justify" style="text-indent: 5%">
IN WITNESS WHEREOF the parties have executed this Agreement as of the day and year first written above. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" ><B>LEXARIA CORP</B></TD>
    <TD align=left width="50%" ><B>LENDER</B></TD></TR>
  <TR>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%" >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________</TD>
    <TD align=left width="50%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _____________________________</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="45%">&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD width="5%" >&nbsp; </TD>
    <TD width="45%">&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Name:&nbsp;&nbsp; Bal Bhullar </TD>
    <TD align=left width="50%">Name: </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="45%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CFO, Director </TD>
    <TD align=left width="50%">Title: </TD></TR></TABLE>
<BR>
<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">Per:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="95%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="95%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">Name:&nbsp;&nbsp; Chris Bunka </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">Title:&nbsp;&nbsp;&nbsp;&nbsp; CEO, Director </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%">&nbsp;</TD></TR></TABLE>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBBIT 99.1
<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">
<!--$$/page=-->
<p align="right"><b><A name=page_1>Exhibit 99.1</A></b><BR>
</p>
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style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
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  <TR vAlign=top>
    <TD align=left>November 23, 2012 </TD>
    <TD align=right width="50%">Trading Symbols: LXRP: OTCQB </TD></TR>
  <TR vAlign=top>
    <TD align=left>Release #2012-17 </TD>
    <TD align=right width="50%">LXX: CNSX </TD></TR></TABLE>
<P align=center><B>Lexaria Renegotiates Debt </B></P>
<P align=justify><B>Vancouver, BC&#151;Lexaria Corp </B>(LXRP-OTCQB) (LXX-CNSX) (the
"Company" or "Lexaria&#148;) is pleased to announce it has renegotiated and extended
repayment terms on all debt that was otherwise due to mature by December 2012.
</P>
<P align=justify>Lexaria has entered into debt amendment agreements with various
existing debt holders with mutually agreeable terms for up to one year. No new
debt was required by the Company. Under the terms of the new agreements these
debts of a total of US$930,000 will be paid in full by December 2013 to the
various parties.</P>
<P align=justify>&#147;Lexaria is grateful to its Lenders who continue to provide
their support of our Company and projects, and we feel fortunate to be amongst
such supporters,&#148; said Chris Bunka, President of Lexaria.</P>
<P align=justify><B>About Lexaria</B></P>
<P align=justify>Lexaria&#146;s shares are quoted in the USA with symbol LXRP and in
Canada with symbol LXX. The company searches for projects that could provide
potential above-market returns and is exploring all strategic alternatives
focused on building value. </P>
<P align=justify>To learn more about Lexaria Corp. visit www.lexariaenergy.com.
</P>
<P align=justify>FOR FURTHER INFORMATION PLEASE CONTACT: <BR>Lexaria Corp.
<BR>Chris Bunka CEO/Chairman <BR>(250) 765-6424</P>
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<!--$$/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. 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 conditions will be favorable for field work; no assurance that well
treatments or workovers 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 any expected new well(s) will be drilled or 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 including but not
limited to surface flooding 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 and there is no assurance
that the Company will be able to raise required working capital. Current oil and
gas production rates may not be sustainable and targeted production rates may
not occur. Oil well production rates naturally decrease over time. 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>
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