<SEC-DOCUMENT>0001640334-21-001125.txt : 20210512
<SEC-HEADER>0001640334-21-001125.hdr.sgml : 20210512
<ACCEPTANCE-DATETIME>20210512142120
ACCESSION NUMBER:		0001640334-21-001125
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20210506
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210512
DATE AS OF CHANGE:		20210512

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Lexaria Bioscience Corp.
		CENTRAL INDEX KEY:			0001348362
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				202000871
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39874
		FILM NUMBER:		21914677

	BUSINESS ADDRESS:	
		STREET 1:		100 - 740 MCCURDY ROAD
		CITY:			KELOWNA
		STATE:			A1
		ZIP:			V1X 2P7
		BUSINESS PHONE:		250-765-6424

	MAIL ADDRESS:	
		STREET 1:		100 - 740 MCCURDY ROAD
		CITY:			KELOWNA
		STATE:			A1
		ZIP:			V1X 2P7

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXARIA CORP.
		DATE OF NAME CHANGE:	20080229

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Lexaria Corp.
		DATE OF NAME CHANGE:	20051229
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>lxrp_10q.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html><head><title>lxrp_10q.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: left; FONT: 10pt times new roman; MARGIN: 0px 7%"><table style="font-size:1px;width:100%"> <tr > <td style="BORDER-BOTTOM: 5px solid;"></td></tr> <tr > <td style="BORDER-BOTTOM: 2px solid;"></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>UNITED STATES</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>SECURITIES AND EXCHANGE COMMISSION </strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Washington, D.C. 20549</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><strong><font style="font-size:18pt">FORM 8-K</font></strong></strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>CURRENT REPORT</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">Date of Report (Date of earliest event reported) <strong><u>May 6, 2021</u></strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&nbsp;&nbsp; </p> <table style="border-spacing:0;font-size:10pt;text-align:justify;margin-left:auto;margin-right:auto;width:70%" cellpadding="0"> <tr style="height:15px"> <td style="BORDER-BOTTOM: 1px solid;width:74%;vertical-align:top;" colspan="6"> <p style="MARGIN: 0px; text-align:center;"><strong><font style="font-size:18pt">LEXARIA BIOSCIENCE CORP.</font></strong></p></td></tr> <tr style="height:15px"> <td colspan="6" style="width:74%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">(Exact name of registrant as specified in its charter)</p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp; </p> <table style="border-spacing:0;text-align:justify;font:10pt times new roman;margin-left:auto;margin-right:auto;width:85%" cellpadding="0"> <tr style="height:15px"> <td style="BORDER-BOTTOM: 1px solid;width:30%;"> <p style="MARGIN: 0px; text-align:center;"><strong>Nevada</strong></p></td> <td style="width:5%;"> <p style="MARGIN: 0px; text-align:center;">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:30%;"> <p style="MARGIN: 0px; text-align:center;"><strong>000-52138</strong></p></td> <td style="width:5%;"> <p style="MARGIN: 0px; text-align:center;">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:30%;"> <p style="MARGIN: 0px; text-align:center;"><strong>20-2000871</strong></p></td></tr> <tr style="height:15px"> <td> <p style="MARGIN: 0px; text-align:center;">(State or other jurisdiction</p> <p style="MARGIN: 0px; text-align:center;">of incorporation)</p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td> <p style="MARGIN: 0px; text-align:center;">(Commission</p> <p style="MARGIN: 0px; text-align:center;">File Number)</p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td> <p style="MARGIN: 0px; text-align:center;">(IRS Employer</p> <p style="MARGIN: 0px; text-align:center;">Identification No.)</p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp; </p> <table style="border-spacing:0;text-align:justify;font:10pt times new roman;margin-left:auto;margin-right:auto;width:85%" cellpadding="0"> <tr style="height:15px"> <td style="BORDER-BOTTOM: 1px solid;width:45%;"> <p style="MARGIN: 0px; text-align:center;"><strong>100 &#8211; 740 McCurdy Road, Kelowna, BC Canada </strong></p></td> <td style="width:10%;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:45%;"> <p style="MARGIN: 0px; text-align:center;"><strong>V1X 2P7</strong></p></td></tr> <tr style="height:15px"> <td> <p style="MARGIN: 0px; text-align:center;">(Address of principal executive offices)</p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td> <p style="MARGIN: 0px; text-align:center;">(Zip Code)</p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">Registrant&#8217;s telephone number, including area code <strong><u>(250) 765-6424</u></strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">______________________________________________ </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">(Former name or former address, if changed since last report.)</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp; </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">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 style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&#9744;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&#9744;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&#9744;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&#9744;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Securities registered pursuant to Section 12(b) of the Act:</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="BORDER-BOTTOM: 1px solid;width:30%;vertical-align:bottom;"> <p style="MARGIN: 0px; text-align:center;"><strong>Title of each class</strong></p></td> <td style="width:5%;"> <p style="MARGIN: 0px; text-align:center;">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:30%;vertical-align:bottom;"> <p style="MARGIN: 0px; text-align:center;"><strong>Trading <br>Symbol(s)</strong></p></td> <td style="width:5%;"> <p style="MARGIN: 0px; text-align:center;">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:30%;vertical-align:bottom;"> <p style="MARGIN: 0px; text-align:center;"><strong>Name of each exchange on</strong></p> <p style="MARGIN: 0px; text-align:center;"><strong>which registered</strong></p></td></tr> <tr style="height:15px"> <td style="vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">Common Stock, par value $0.001 per share</p> <p style="MARGIN: 0px; text-align:center;">Warrants to Purchase Common Stock</p></td> <td> <p style="MARGIN: 0px; text-align:center;">&nbsp;</p></td> <td style="vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">LEXX</p> <p style="MARGIN: 0px; text-align:center;">LEXXW</p></td> <td> <p style="MARGIN: 0px; text-align:center;">&nbsp;</p></td> <td style="vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">The Nasdaq Capital Market</p> <p style="MARGIN: 0px; text-align:center;">The Nasdaq Capital Market</p></td></tr></table> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp; </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">Emerging growth company&nbsp;&nbsp; &#9744;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp; </p> <table style="font-size:1px;width:100%"> <tr > <td style="BORDER-BOTTOM: 2px solid;"></td></tr> <tr > <td style="BORDER-BOTTOM: 5px solid;"></td></tr></table> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="TEXT-INDENT: 0px;"></td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp; </p> <table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:8%;vertical-align:top;"> <p style="margin:0px"><strong>Item 7.01</strong></p></td> <td style="vertical-align:top;"> <p style="margin:0px"><strong>Regulation FD Disclosure</strong></p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On May 6, 2021, Lexaria Bioscience Corp. (&#8220;Lexaria&#8221;) announced that its three new DehydraTECH 2.0 formulations that formed part of its HYPER-A21-1 study, delivered improved performance when compared to both Lexaria&#8217;s original DehydraTECH 1.0 and 2.0 concentration-matched formulations, as well as to a medium chain triglyceride (&#8220;MCT&#8221;) oil based control formulation. The study demonstrated that each of the new DehydraTECH 2.0 formulations delivered very high levels of CBD absorption into brain tissues, dwarfing the levels achieved with the MCT oil-based control formulation. The three new DehydraTECH 2.0 formulations delivered between 907%-1,737% more CBD into brain tissue than the MCT oil based control formulation, similar to the up to 1,937% increase over the MCT oil based control formulation announced previously for Lexaria&#8217;s original DehydraTECH 2.0 formulation.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On May 7, 2021 Lexaria announced the cancellation of 87,935 options of which an aggregate of 18,334 stock options had an exercise price of US$14.10; 23,334 stock options had an exercise price of US$10.20; and 46,267 stock options had an exercise price of US$9.60.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On May 12, 2021 Lexaria announced the receipt of its first patent grant in India which was issued on April 30, 2021 for its third patent family, Stable Ready-to-Drink Beverage Compositions Comprising Lipophilic Active Agents. This represents the second granted patent in this patent family, the first granted patent being issued in Australia. This India patent grant includes claims for use with a variety of ready-to-drink beverages and a wide range of lipophilic active agents, including NSAIDs (e.g., acetylsalicylic acid, ibuprofen, diclofenac, indomethacin, piroxicam), acetaminophen, fat soluble vitamins, nicotine and cannabinoids. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="BORDER-BOTTOM: #000000 1px solid;width:8%;vertical-align:top;"> <p style="margin:0px"><strong>Item 9.01</strong></p></td> <td style="width:2%;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: #000000 1px solid;vertical-align:top;"> <p style="margin:0px"><strong>Financial Statements and Exhibits</strong></p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="margin:0px"><a href="lxrp_ex991.htm">99.1</a></p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td style="vertical-align:top;"> <p style="margin:0px"><a href="lxrp_ex991.htm">Press Release dated May 6, 2021</a></p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="margin:0px"><a href="lxrp_ex992.htm">99.2</a></p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td style="vertical-align:top;"> <p style="margin:0px"><a href="lxrp_ex992.htm">Press Release dated May 7, 2021</a></p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="margin:0px"><a href="lxrp_ex993.htm">99.3</a></p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td style="vertical-align:top;"> <p style="margin:0px"><a href="lxrp_ex993.htm">Press Release dated May 12, 2021</a></p></td></tr></table> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;&nbsp; </p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp; </td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;text-align:center;">2</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp; </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>SIGNATURES</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-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 style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <table style="border-spacing:0;text-align:justify;font:10pt times new roman;margin-left:auto;margin-right:auto;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:35%;"> <p style="margin:0px"><strong>LEXARIA BIOSCIENCE </strong><strong>CORP.</strong></p></td> <td style="width:5%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:60%;"></td></tr> <tr style="height:15px"> <td> <p style="margin:0px">&nbsp;</p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: 1px solid;"> <p style="MARGIN: 0px; text-align:justify;"><em>/s/ Chris Bunka</em></p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td></td></tr> <tr style="height:15px"> <td> <p style="MARGIN: 0px; text-align:justify;"><strong>Chris Bunka</strong></p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td></td></tr> <tr style="height:15px"> <td> <p style="MARGIN: 0px; text-align:justify;">CEO, Principal Executive Officer</p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td></td></tr> <tr style="height:15px"> <td> <p style="MARGIN: 0px; text-align:justify;">&nbsp;</p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td></td></tr> <tr style="height:15px"> <td colspan="3"> <p style="MARGIN: 0px; text-align:justify;">Date: May 12, 2021</p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;text-align:center;">3</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p><body>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>lxrp_ex991.htm
<DESCRIPTION>PRESS RELEASE DATED MAY 6, 2021
<TEXT>
<html><head><title>lxrp_ex991.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: left; FONT: 10pt times new roman; MARGIN: 0px 7%"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"><strong>EXHIBIT 99.1</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Lexaria Issues Successful Results from First 2021 Study, HYPER-A21-1</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font-size:10pt;font-variant:normal;font-weight:normal;font-style:normal;text-align:left;line-height:normal;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:4%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:4%;vertical-align:top;"> <p style="margin:0px"><font style="font-size:14pt">&#8226;</font></p></td> <td style="vertical-align:top;"><em>Up to 2,178% more CBD delivered into bloodstream* </em></td></tr> <tr style="height:15px"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="vertical-align:top;"> <p style="margin:0px"><font style="font-size:14pt">&#8226;</font></p></td> <td style="vertical-align:top;"><em>Up to 1,737% more CBD delivered into brain tissue*</em></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><a name="_DV_M1"></a><a name="_DV_M2"></a><strong>Kelowna, British Columbia, May 6, 2021</strong> &#8211; Lexaria Bioscience Corp. (Nasdaq: LEXX) (Nasdaq: LEXXW) (CSE: LXX) (the &#8220;Company&#8221; or &#8220;Lexaria&#8221;), a global innovator in drug delivery platforms, is pleased to announce successful outcomes in its first sets of data from its 2021 applied research and development (R&amp;D) study programs. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Study HYPER-A21-1 included three new &#8220;DehydraTECH 2.0&#8221; formulation variations designed to enable cannabidiol (&#8220;CBD&#8221;) delivery performance enhancements and pharmacokinetic optimization. All three new DehydraTECH 2.0 formulations delivered improved performance when compared to both Lexaria&#8217;s original DehydraTECH 1.0 and 2.0 concentration-matched formulations, as well as to a medium chain triglyceride (&#8220;MCT&#8221;) oil based control formulation representative of standard industry practices Summary data is shown below:</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <table style="border-spacing:0;font-size:10pt;border-right:#000000 1px solid;border-bottom:#000000 1px solid;text-align:justify;margin-left:auto;margin-right:auto;width:100%" cellpadding="2"> <tr style="height:15px"> <td style="border-top:#000000 1px solid;border-left:#000000 1px solid;padding:2px;width:15%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;"><strong>Formulation</strong></p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:14%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;"><strong>AUClast <sup>(1)</sup></strong></p> <p style="MARGIN: 0px; text-align:center;"><strong>(hr&#8729;kg&#8729;ng </strong></p> <p style="MARGIN: 0px; text-align:center;"><strong>/mL/mg)</strong></p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;"><strong>% Improvement </strong><strong>over</strong></p> <p style="MARGIN: 0px; text-align:center;"><strong>MCT Formulation</strong></p> <p style="MARGIN: 0px; text-align:center;"><strong>(p value)</strong></p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;"><strong>% Improvement </strong><strong>over </strong><strong>original</strong></p> <p style="MARGIN: 0px; text-align:center;"><strong>DehydraTECH 1.0 </strong></p> <p style="MARGIN: 0px; text-align:center;"><strong>(p value)</strong></p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:16%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;"><strong>% Improvement</strong></p> <p style="MARGIN: 0px; text-align:center;"><strong>over original</strong></p> <p style="MARGIN: 0px; text-align:center;"><strong>DehydraTECH 2.0 </strong></p> <p style="MARGIN: 0px; text-align:center;"><strong>(p value)</strong></p></td></tr> <tr style="height:15px"> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:15%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">MCT Control <sup>(2)</sup></p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:14%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">13.17 &#177; 6.78</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">--</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">--</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:16%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">--</p></td></tr> <tr style="height:15px"> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:15%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">Original <sup>(2)</sup></p> <p style="MARGIN: 0px; text-align:center;">DehydraTECH 1.0 </p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:14%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">64.6 &#177; 23.7</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">390%</p> <p style="MARGIN: 0px; text-align:center;">(p=0.00002)</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="MARGIN: 0px; text-align:center;">--</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:16%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="MARGIN: 0px; text-align:center;">--</p></td></tr> <tr style="height:15px"> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:15%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">Original <sup>(3)</sup></p> <p style="MARGIN: 0px; text-align:center;">DehydraTECH 2.0</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:14%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">134.7 &#177; 63.7</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">923%</p> <p style="MARGIN: 0px; text-align:center;">(p=0.00009)</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">108%</p> <p style="MARGIN: 0px; text-align:center;">(p=0.0036)</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:16%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">--</p></td></tr> <tr style="height:15px"> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:15%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;"><strong>**NEW**</strong></p> <p style="MARGIN: 0px; text-align:center;">DehydraTECH 2.0</p> <p style="MARGIN: 0px; text-align:center;">Formulation 1 <sup>(4)</sup> </p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:14%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">153.9 &#177; 62.8</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">1,068%</p> <p style="MARGIN: 0px; text-align:center;">(p=0.00003)</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">138%</p> <p style="MARGIN: 0px; text-align:center;">(p=0.0006)</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:16%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">14%</p> <p style="MARGIN: 0px; text-align:center;">(p=0.253)</p></td></tr> <tr style="height:15px"> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:15%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;"><strong>**NEW**</strong></p> <p style="MARGIN: 0px; text-align:center;">DehydraTECH 2.0</p> <p style="MARGIN: 0px; text-align:center;">Formulation 2 <sup>(4)</sup></p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:14%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">216.0 &#177; 94.9</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">1,540%</p> <p style="MARGIN: 0px; text-align:center;">(p=0.00004)</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">234%</p> <p style="MARGIN: 0px; text-align:center;">(p=0.0003)</p> <p style="MARGIN: 0px; text-align:center;">&nbsp;</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:16%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">60%</p> <p style="MARGIN: 0px; text-align:center;">(p=0.018)</p></td></tr> <tr style="height:15px"> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:15%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;"><strong>**NEW**</strong></p> <p style="MARGIN: 0px; text-align:center;">DehydraTECH 2.0</p> <p style="MARGIN: 0px; text-align:center;">Formulation 3 <sup>(4)</sup></p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:14%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">300.1 &#177; 126.6</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">2,178%</p> <p style="MARGIN: 0px; text-align:center;">(p=0.00007)</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:18%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">364%</p> <p style="MARGIN: 0px; text-align:center;">(p=0.0002)</p></td> <td style="border-top:#000000 1px solid;padding-bottom:2px;padding-top:2px;padding-left:2px;border-left:#000000 1px solid;padding-right:2px;padding:2px;width:16%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:center;">123%</p> <p style="MARGIN: 0px; text-align:center;">(p=0.002)</p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp; </p> <table style="border-spacing:0;font-size:10pt;font-variant:normal;font-weight:normal;font-style:normal;text-align:left;line-height:normal;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:4%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:4%;vertical-align:top;"> <p style="margin:0px"><sup>(1)</sup></p></td> <td style="vertical-align:top;"> <p style="margin:0px">AUC: Area Under the Curve, or total CBD delivery into the rodent bloodstream</p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="vertical-align:top;"> <p style="margin:0px"><sup>(2)</sup></p></td> <td style="vertical-align:top;"> <p style="margin:0px">60-minute study duration</p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="vertical-align:top;"> <p style="margin:0px"><sup>(3)</sup></p></td> <td style="vertical-align:top;"> <p style="margin:0px">60-minute study duration evaluated in 2019</p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="vertical-align:top;"> <p style="margin:0px"><sup>(4)</sup></p></td> <td style="vertical-align:top;"> <p style="margin:0px">120-minute study duration evaluated in 2021</p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&#8220;Not only did the three latest DehydraTECH 2.0 formulations deliver between 1,068% and 2,178% more CBD during the study period than the standard MCT control formulation, they also were up to 123% more effective than the original DehydraTECH 2.0 formulation,&#8221; said Chris Bunka, CEO of Lexaria. &#8220;Said another way, for every 1 mg of CBD delivered by the industry standard MCT control formulation, these latest DehydraTECH 2.0 formulations delivered 10 to 21 mg of CBD.&#8221;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The study demonstrated that each of the new DehydraTECH 2.0 formulations delivered very high levels of CBD absorption into brain tissues, dwarfing the levels achieved with the MCT oil-based control formulation. The three new DehydraTECH 2.0 formulations delivered between 907%-1,737% more CBD into brain tissue than the MCT oil based control formulation, similar to the up to 1,937% increase over the MCT oil based control formulation announced previously for Lexaria&#8217;s original DehydraTECH 2.0 formulation.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp; </p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;"></td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp; &nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In each arm of the study, ten male Sprague-Dawley rats were dosed orally at a level of 25 mg/Kg CBD, and over the next 120 minutes multiple measurements were made of delivery into the bloodstream and tissues comparing the DehydraTECH formulations to certain controls. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">These study findings add significantly to Lexaria&#8217;s body of evidence demonstrating the ability of its DehydraTECH technology to be engineered to enhance the delivery of lipophilic active ingredients such as CBD across a range of uptake levels, whereby higher delivery level targets may be most applicable to pharmaceutical dosage forms and lower delivery level targets more suited to consumer packaged goods. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Additional DehydraTECH 2.0 formulations are being evaluated in Lexaria study HYPER-A21-2 presently underway, and results are expected in late May or early June, 2021. Thereafter, Lexaria is planning additional work that will evaluate impacts upon real-time blood pressure in animals using select formulations pursuant to these studies. Lexaria will provide more details on this upcoming blood pressure testing in animals as they become available. As well, advanced DehydraTECH 2.0 formulations are already being used by Lexaria in ongoing human studies and will be monetized for commercial use when applicable.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">*<em> Compared with control formula utilizing medium chain triglycerides (coconut oil)</em> <em>representative of standard industry practices</em></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><a name="_DV_M20"></a><strong>About Lexaria Bioscience Corp.</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Lexaria Bioscience Corp.&#8217;s proprietary drug delivery technology, DehydraTECH&#8482;, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company&#8217;s technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 patents pending worldwide. For more information, please visit www.lexariabioscience.com.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>CAUTION REGARDING FORWARD-LOOKING STATEMENTS</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as &#8220;anticipate,&#8221; &#8220;if,&#8221; &#8220;believe,&#8221; &#8220;plan,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;may,&#8221; &#8220;could,&#8221; &#8220;should,&#8221; &#8220;will,&#8221; and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the company relating the Company&#8217;s ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company&#8217;s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company&#8217;s ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&amp;D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company&#8217;s public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. There is no assurance that any of Lexaria&#8217;s postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><em>The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.</em></p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>INVESTOR CONTACT: </strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">ir@lexariabioscience.com </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Phone: 866-221-3341 </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp; </p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;"></td></tr></table><body>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
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<DESCRIPTION>PRESS RELEASE DATED MAY 7, 2021
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<html><head><title>lxrp_ex992.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: left; FONT: 10pt times new roman; MARGIN: 0px 7%"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"><strong>EXHIBIT 99.2</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><font style="font-size:14pt">Lexaria Announces Cancellation of Options</font></strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Kelowna, British Columbia&#8211; May 7, 2021</strong> &#8211; Lexaria Bioscience Corp. (Nasdaq: LEXX) (Nasdaq: LEXXW) (CSE: LXX) (the &#8220;Company&#8221; or &#8220;Lexaria&#8221;), a global innovator in drug delivery platforms announces the cancellation of 87,935 stock options.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Stock Option Cancellation</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Lexaria announces that on May 7, 2021 it has cancelled, with the approval and authorization of the optionees, an aggregate of 18,334 stock options having an exercise price of US$14.10; 23,334 stock options having an exercise price of US$10.20; and 46,267 stock options having an exercise price of US$9.60 (collectively the &#8220;Options&#8221;). The Options were issued pursuant to the Company&#8217;s registered Incentive Equity Plan (the &#8220;Plan&#8221;) and upon cancellation will be returned to the option pool of the Plan for future reissuance. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>About Lexaria Bioscience Corp.</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><a name="_gjdgxs"></a><a name="_DV_M21"></a>Lexaria Bioscience Corp.&#8217;s proprietary drug delivery technology, DehydraTECH&#8482;, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company&#8217;s technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 patents pending worldwide. For more information, please visit www.lexariabioscience.com<a name="_DV_M22"></a>.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><a name="_DV_M23"></a><strong>CAUTION REGARDING FORWARD-LOOKING STATEMENTS</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><a name="_DV_M24"></a>This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as &#8220;anticipate,&#8221; &#8220;if,&#8221; &#8220;believe,&#8221; &#8220;plan,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;may,&#8221; &#8220;could,&#8221; &#8220;should,&#8221; &#8220;will,&#8221; and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the company relating the Company&#8217;s ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company&#8217;s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. <a name="_DV_M25"></a>Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company&#8217;s ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&amp;D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company&#8217;s public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. There is no assurance that any of Lexaria&#8217;s postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><a name="_DV_M26"></a><em>The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.<a name="_DV_M27"></a></em></p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>INVESTOR CONTACT: </strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">ir@lexariabioscience.com<a name="_DV_M28"></a> </p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><a name="_DV_M29"></a>Phone: 866-221-3341 </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p><body>
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<TYPE>EX-99.3
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<FILENAME>lxrp_ex993.htm
<DESCRIPTION>PRESS RELEASE DATED MAY 12, 2021
<TEXT>
<html><head><title>lxrp_ex993.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: left; FONT: 10pt times new roman; MARGIN: 0px 7%"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"><strong>EXHIBIT 99.3</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Lexaria Strengthens its International Patent Portfolio to 19 Patents Granted</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><em>New patent granted in India bolsters worldwide patent coverage, adding to</em></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><em>existing patents in the EU, the U.S., and Australia</em></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Kelowna, British Columbia, May 12, 2021</strong> &#8211; Lexaria Bioscience Corp. (Nasdaq: LEXX) (Nasdaq: LEXXW) (CSE: LXX) (the &#8220;Company&#8221; or &#8220;Lexaria&#8221;), a global innovator in drug delivery platforms, announces further expansion of its intellectual property portfolio with its first-ever patent granted in India.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The patent is titled &#8220;Stable ready-to-drink beverage compositions comprising lipophilic active agents&#8221; and is of particular importance given the size of the Indian population, which is nearly four times as large as the U.S. population<em>. </em>The patent is valid for 20 years from the patent application date of Dec. 1, 2016. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&#8220;This is our 19<sup>th</sup> patent granted worldwide, allowing us to innovate in the ready-to-drink beverage composition category around the world,&#8221; said Chris Bunka, CEO of Lexaria. &#8220;This new patent complements our existing suite of granted patents spanning the EU, the U.S., and Australia, and provides intellectual property protection to both consumer-packaged goods as well as registered drug applications. We believe these are robust growth categories that add to Lexaria&#8217;s strategic value.&#8221;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">This is the second patent granted from Lexaria&#8217;s third patent family. Lexaria&#8217;s patent application suite has grown to a total of 13 patent families. Active ingredients that may be used under this new patent include NSAIDS (e.g., acetylsalicylic acid, ibuprofen, diclofenac, indomethacin, piroxicam), fat-soluble vitamins, and acetaminophen. Active ingredients under the new patent also include nicotine and cannabinoids.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Claims granted cover a wide range of product formats, including non-carbonated beverages, carbonated beverages, colas, root beers, fruit-flavoured beverages, citrus-flavored beverages, fruit juices, fruit-containing beverages, vegetable juices, vegetable-containing beverages, teas, coffees, dairy beverages, protein-containing beverages, shakes, sports drinks, energy drinks, and flavored waters.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Lexaria has patent applications progressing in countries around the world with aggregate populations of approximately 3.7 billion people and will report on further progress as information becomes available.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp; </p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;"></td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp; &nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>About Lexaria Bioscience Corp.</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Lexaria Bioscience Corp.&#8217;s proprietary drug delivery technology, DehydraTECH&#8482;, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company&#8217;s technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1&#8211;2 hours to minutes, and mask unwanted tastes. DehydraTECH is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies, including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products, and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 19 patents granted and approximately 60 patents pending worldwide. For more information, please visit www.lexariabioscience.com.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>CAUTION REGARDING FORWARD-LOOKING STATEMENTS</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as &#8220;anticipate,&#8221; &#8220;if,&#8221; &#8220;believe,&#8221; &#8220;plan,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;may,&#8221; &#8220;could,&#8221; &#8220;should,&#8221; &#8220;will,&#8221; and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the Company relating the Company&#8217;s ability to carry out research initiatives, receive regulatory approvals or grants, or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company&#8217;s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company&#8217;s ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&amp;D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company&#8217;s public announcements and periodic filings with the U.S. Securities and Exchange Commission on EDGAR. There is no assurance that any of Lexaria&#8217;s postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure, or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances, or otherwise, except as otherwise required by law.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><em>The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.</em></p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>INVESTOR CONTACT: </strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">ir@lexariabioscience.com </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Phone: 866-221-3341</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;"></td></tr></table> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">&nbsp;</p><body>
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