Lexaria
Bioscience (CSE: LXX) (OTCQX: LXRP), a global innovator in drug-delivery
platforms, this morning announced the appointment of Gregg Smith as a Senior
Advisor for the company. Smith is the founder of Evolution VC Partners (www.EvolutionVCP.com),
a New York-based “culture tech” venture investment firm with over 90 portfolio
companies. Through his LLC, Smith is acquiring an equity position in LXRP by
participating in the company’s recently announced private placement financing
of $0.45 units. “I am passionate about creating a smokeless future and
recognize that the consumption methods of nicotine and cannabis will change.
Lexaria’s technology, DehydraTECH(TM), will completely disrupt and improve the
consumption and delivery of oral nicotine, CBD and cannabis,” Senior Advisor
Gregg Smith stated in the news release. “Lexaria’s recognition of the recent
FDA recognition of certain oral delivery forms of nicotine as ‘less harmful’ to
human health than combustible smoking will be a driving force of changing
consumer preferences. I expect Lexaria’s technology to play a significant role
in that future and I am pleased to advise the management team at Lexaria in
defining our leadership strategies.”
To view the full press release, visit http://ibn.fm/9nPYt
About Lexaria Bioscience Corp.
Lexaria Bioscience Corp. is a global innovator in
drug-delivery platforms. Its patented DehydraTECH(TM) drug-delivery technology
changes the way active pharmaceutical ingredients enter the bloodstream,
promoting healthier ingestion methods, lower overall dosing and higher
effectiveness for lipophilic active molecules. DehydraTECH increases
bioabsorption, reduces time of onset and masks unwanted tastes for orally
administered bioactive molecules including cannabinoids, vitamins,
non-steroidal anti-inflammatory drugs (“NSAIDs”), nicotine and other molecules.
Lexaria has licensed DehydraTECH to multiple companies in the cannabis industry
for use in cannabinoid beverages, edibles and oral products, as well as to a
world-leading tobacco producer for the development of smokeless, oral-based
nicotine products. Lexaria operates a licensed, in-house research laboratory
and holds a robust intellectual property portfolio with 16 patents granted and
over 60 patents pending worldwide. 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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