- LXRP
CEO Chris Bunka and President John Docherty have agreed to new, three-year
contracts
- The
new contract agreements are designed to provide management security with
continuity of key officers
- The
company recently canceled 1,140,000 stock options after negotiations with
optionees
Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) has
successfully negotiated new three-year compensation contracts with key officers
Chris Bunka, CEO, and John Docherty, president. The agreements offer LXRP and
its shareholders the security of pursuing corporate growth within a seamless
transition by providing management continuity. The renewal agreements are
retroactive to January 1, 2019 (http://ibn.fm/V8SmJ).
The agreements offer both officers compensation and bonuses
based on meeting certain performance criteria established by the LXRP board.
The agreements also offer a one-time bonus based on consideration for the sale
of any subsidiary or change of control, excluding certain circumstances, as
well as continuing participation in the LXRP stock option plan.
LXRP also announced that, effective April 5, 2019, the
company was canceling 1,140,000 stock options with exercise prices ranging from
$0.10 to $2.06 after reaching agreements with certain optionees.
Based in British Columbia, Canada, LXRP is a biotechnology
company and drug-delivery platform innovator, with DehydraTECH as its
proprietary absorption technology platform. The company has developed and
out-licenses its disruptive technology, which promotes healthier ingestion
methods and lower overall dosing. LXRP holds a patent for oral delivery of all
cannabinoids and has a growing IP portfolio that includes 10 patents granted in
the United States and Australia and more than 50 patent applications worldwide
across 10 patent families.
For more information, visit the company’s website at www.LexariaBioscience.com
NOTE TO INVESTORS: The latest news and updates
relating to LXRP are available in the company’s newsroom at http://ibn.fm/LXRP
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