KELOWNA, BC / ACCESSWIRE / May 4, 2020 / Lexaria Bioscience Corp. (OTCQB:LXRP)(CSE:LXX) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, today announced that it has entered into definitive agreements with certain qualified investors for the sale of 8,978,260 shares ("Shares") of our common stock along with common stock purchase warrants ("Warrants") to purchase up to 8,978,260 shares of our common stock in a private placement (collectively the "Offering") for gross proceeds of over US$2 million. The purchase price per Share is US$0.23. The Warrants being issued in connection with the purchase of the Shares are immediately exercisable at an exercise price per share of US$0.35 and have a five-year term of exercise. The transaction is anticipated to close on May 6, 2020, subject to customary closing conditions.
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