Lexaria Bioscience Corp. (OTC:LXRP) (CSE:LXX) just announced that as part of their early exercise warrant incentive program announced on October 27th, that they have received another $700,000 USD. This is in addition to the $37,500 USD announced on November 2nd as part of the same warrant program.
Common Shares Issued
A total of 3,245,000 warrants have been exercised at a $0.2273 USD per share. Therefore Lexaria Bioscience is issuing 3,245,000 shares of common stock to the stakeholders that exercised warrants. According to the release, "no commissions or placement fees have been paid relative to the funds received from this warrant exercise," and that "proceeds raised are for general corporate purposes." These issued shares will be in a lockup period for 6 months and 1 day, preventing resale of the issued securities until then.
For more information and recent coverage on Lexaria Bioscience, like their recent licensing agreement with Hempco, be sure to check out their stock profile in our marijuana stocks database. To read Lexaria's press release regarding the warrants click here.