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Lexaria Bioscience Corp.: Lexaria Closes Sale of Non-Pharmaceutical THC-Related Assets

Lexaria Bioscience Corp.: Lexaria Closes Sale of Non-Pharmaceutical THC-Related Assets
Asset Sale in Preparation for Potential US National Securities Exchange Listing
KELOWNA, BC / ACCESSWIRE / December 10, 2020 / Lexaria Bioscience Corp. (OTCQX:LXRP)(CSE:LXX) (the Company or Lexaria ), a global innovator in drug delivery platforms, announces that it has closed the sale of its non-pharmaceutical THC-related assets ( the Assets ) held within Lexaria Canpharm ULC, a Lexaria wholly-owned subsidiary, to Hill Street Beverage Company Inc. ( Hill Street ) (BEER) as first announced on November 19, 2020.
The total agreed-upon purchase price for the Assets is $3,850,000. Lexaria has received $350,000 in cash (all prices in CDN$), 6,031,363 restricted common shares of Hill Street at a deemed price of $0.0829 per share as the first required equity-based payment, a promissory note having a principal amount of $2,000,000 and bearing interest at the rate of 10% per annum, and a li ....

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Hill Street Beverage Company Inc.: Hill Street Announces Closing of Asset Acquisition of Lexaria Canpharm

Hill Street Beverage Company Inc.: Hill Street Announces Closing of Asset Acquisition of Lexaria Canpharm
Hill Street Beverage Company Inc.
(TSXV: BEER)
( Hill Street or the Company ) today announces that further to its press release dated November 18, 2020, it has closed the acquisition of the primary assets of
Lexaria Canpharm ULC, the cannabis-related division of
Lexaria Bioscience Corp. ( Lexaria ). This
acquisition provides
Lexaria s ground-breaking
DehydraTECH
TM patent portfolio on a global basis to make any type of non-pharmaceutical product containing 0.3% or greater THC and other psychoactive cannabinoids. In addition, the agreement expands
Hill Street s license with
Lexaria Hemp Corp. to make products containing CBD on a global basis for ten years. ....

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