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Legalizing Marijuana Takes Shape in Canada–is the US Next?
Jocelyn Aspa
The cannabis industry has no doubt taken on a life of its own in recent years. Now that legalization is taking shape at a federal level–at least in Canada–the tide has officially begun turning for growing sector.
On April 13, the Canadian federal government finally announced its much anticipated bill to legalize recreational use of cannabis by July 2018. In particular, the bill follows many of the recommendations made in the federal task force, released in late 2016.
Indeed, Canada's decision to legalize marijuana recreationally certainly sets the framework for other countries around the world following suite. In fact, Canada is the first developed country to fully legalize marijuana since the war on drugs started in the 1970s. Uruguay is the only other country in the world that allows recreational use of marijuana.
With that in mind, here's a look at some of the rules surrounding legalizing marijuana in Canada–and if the US will be the next to do so.
Find out what experts say about profiting from the cannabis market in 2021!
Read our FREE 2021 cannabis outlook report!
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Legalizing marijuana: Canada a go
As mentioned above, the framework for legalizing marijuana in Canada will follow a number of the recommendations made in the task force released in November, 2016. This also means significant policy changes for Canadian public health and safety.
The bills, introduced in the House of Commons by Justice Minister Jody Wilson-Raybould, Public Safety Minister Ralph Goodale, Health Minister Jane Philpott, and Foreign Affairs Minister Chrystia Freeland, first establishes a minimum age of 18 years old to purchase marijuana.
Of course, laws surrounding framework for production, sales, distribution and possession of marijuana are also part of the suite of bills: individuals over the age of 18 will be able to possess up to 30 grams of dried marijuana, or its equivalent, in public settings. Residents will be able to grow up to four plants per home, in addition to making legal-cannabis products.
The federal government has also propositioned a change to the Criminal Code to punish those who attempt to provide youth under the age of 18 with marijuana, or sell it outside of the new legal regulations.
The Globe and Mail stated that the legislation would put in place new criminal offences, including a maximum penalty of 14 years to anyone who sells or provides marijuana to a minor.
On that note, there are currently 42 companies that have been authorized by Health Canada to produce medicinal marijuana across the country. The Globe and Mail wrote that the federal government will need additional staff and resources to "speed up the approval process" for new producers looking to come online.
With that in mind, the world's first cannabis ETF was launched in Canada in early April. Horizons ETF Management inaugurated the Horizons Medical Marijuana Life Sciences (TSX:HMMJ) on the Toronto Stock Exchange, with 14 marijuana stocks included in the fund, at least for now.
Indeed, there's plenty to look forward to with legalizing marijuana in Canada, and new companies will no doubt be chomping at the bit to get in on the action.
Legalizing marijuana: is the US next?
Down in the US, however, laws for recreational cannabis in the US are still a work in progress. That said, it is legal in eight states while 28 have some form of medical marijuana. Even though cannabis remains illegal at a federal law, Canada's legalization could very well be the push the US needs to follow in the same steps.
That said, it is important for investors to understand the legalities surrounding the medical cannabis and hemp industries. One key point is that regulations in Canada and the US differ from the municipal, provincial and state levels to the federal level.
Despite having low levels of mind-altering THC, hemp has been lumped into the same category as marijuana in the US, and is classified as a Schedule 1 drug under the Controlled Substances Act. Previously, the US allowed patients with a variety of medical conditions to smoke marijuana in a variety of states since 1996, and four states have voted to allow the sale and distribution of marijuana. However, that number is now growing.
Still, under a Donald Trump presidency, the laws are still murky: there's no signs indicating that will happen any time soon.
Don't forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Lexaria Appoints New Board Member
Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, is pleased to announce the appointment of Mr. Al Reese, Jr., to its Board of Directors
Mr. Reese has over 40 years experience in public and private businesses including as CFO of a formerly Nasdaq-listed energy company where he arranged finance transactions totaling over $10 billion dollars during his 20-year tenure. Mr. Reese was a Director and Chairman of the Audit Committee of a community bank in Texas for ten years until such time as it was acquired by a larger banking group in 2018.
<p>Mr. Reese is a Certified Public Accountant (1974), and received his Bachelor of Business Administration degree from Texas A&amp;M University in 1971, and his MBA from University of Houston in 1977. He has extensive experience at a senior level in financial services, finance transactions, investor relations, and more.</p> <p>"It is a real privilege to join the team at Lexaria" comments Mr. Reese. "I've been familiar with Lexaria since inception and have seen this team's determination to develop and commercialize the DehydraTECH<sup>TM</sup> technology. With the recent capital raise, Lexaria now has sufficient capital to conduct the studies and programs to continue to find new and expanded applications of DehydraTECH and other Lexaria opportunities. With the new capital and the right amount of capital discipline, Lexaria should have an excellent future. It is an honor to be part of it."</p> <p>"We are delighted to welcome Al Reese to our Board of Directors where he will add considerable financial industry and public company expertise," said Chris Bunka, CEO and Chairman of the Board. "Al is also experienced in negotiating technology license agreements with companies in the US and internationally, and the Board of Directors looks forward to his guidance as Lexaria continues to evolve and pursue its strategic outlicensing business model."</p> <p>Separately, Lexaria also announces pursuant to its press release issued June 18, 2020, that it has been informed by the NIH that members of its Scientific Review Group for their National Institute of Allergy and Infectious Diseases (NIAID) Funding Opportunity Announcement (FOA) RFA-AI-20-028 – Partnerships for Countermeasures against Select Pathogens have met to consider the applications they received at which time Lexaria's application was not discussed or scored. As such, it is not likely that Lexaria's application will be funded relative to other applications they prioritized, although no definitive decision has yet been provided to Lexaria.</p> <p>Many research grant applications do not receive funding because applications almost always greatly exceed available budgets, thus grants of this type generally enjoy roughly a 20% success rate*. As this grant application was an external add-on to Lexaria's primary 2021 research objectives, it will have no effect on the Company's core planned R&amp;D objectives which are all fully funded.</p> <ul class="ee-ul"><li><a href="https://pr.report/vdbZJ4Fe" rel="noopener noreferrer" target="_blank">https://nexus.od.nih.gov/all/2020/05/05/extramural-investments-in-research-fy-2019-by-the-numbers/#:~:text=The%20application%20success%20rate%20was,6.92%25%20increase)%2C%20respectively</a>.</li> </ul><p><b>About <a href="https://investingnews.com/company-profiles/lexaria-bioscience-cse-lxx-cannabinoid-biotechnology-licensing/">Lexaria Bioscience</a> Corp.</b><br/><a href="https://investingnews.com/company-profiles/lexaria-bioscience-cse-lxx-cannabinoid-biotechnology-licensing/">Lexaria Bioscience</a> Corp.'s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 – 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 patents pending worldwide. For more information, please visit <a href="https://investingnews.com/company-profiles/lexaria-bioscience-cse-lxx-cannabinoid-biotechnology-licensing/" rel="noopener noreferrer" target="_blank">www.lexariabioscience.com</a>.</p> <p><b>CAUTION REGARDING FORWARD-LOOKING STATEMENTS</b><br/>This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the company relating the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.</p> <p><i>The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.</i></p> <p><b>INVESTOR CONTACT:</b><br/><a href="mailto:ir@lexariabioscience.com" rel="noopener noreferrer" target="_blank">ir@lexariabioscience.com</a><br/>Phone: 866-221-3341</p> <p><strong>SOURCE: </strong><a href="https://investingnews.com/company-profiles/lexaria-bioscience-cse-lxx-cannabinoid-biotechnology-licensing/">Lexaria Bioscience</a> Corp.</p> <p>View source version on accesswire.com: <br/><a href="https://www.accesswire.com/624558/Lexaria-Appoints-New-Board-Member" rel="noopener noreferrer" target="_blank">https://www.accesswire.com/624558/Lexaria-Appoints-New-Board-Member</a></p> <p><img class="lazy" data-src="https://www.accesswire.com/img.ashx?id=624558" data-srcset="" height="0" src="https://www.accesswire.com/img.ashx?id=624558" srcset="" width="0"/></p></div> <p>News Provided by ACCESSWIRE via QuoteMedia</p> <p></p><div class="stock-information sidebar-block"> <div class="title">Request an Investor Kit: <h3>Lexaria Bioscience</h3></div> <form action="https://investingnews.com" id="subscribe_per_category" method="POST"> <div class="form-column left"> <input name="profiles_only" type="hidden" value="yes"/><input name="subscription_form" type="hidden" value="yes"/><input name="subscribe_company_profile_form" type="hidden" value="1"/><input name="source" type="hidden" value="https://investingnews.com/news/biotech-investing/lexaria-appoints-new-board-member/"/><input class="referrer" name="referral_url" type="hidden" value=""/><input name="form_name" type="hidden" value="subscribe_cprofile_use_posts"/><input class="referrer" name="referral_url" type="hidden" value=""/><input name="cprofiles[]" type="hidden" value="Tzo4OiJzdGRDbGFzcyI6NDp7czoyOiJpZCI7czozNjoiZDdmMGRiYjktYmEzNy1kMzgzLWVmZGMtNWMwNTZkODRjZjA2IjtzOjQ6Im5hbWUiO3M6MTg6IkxleGFyaWEgQmlvc2NpZW5jZSI7czo0OiJ3cGlkIjtzOjc6IjEzMTQ4NDgiO3M6MzoidXJsIjtzOjA6IiI7fQ=="/><input class="form-control" id="FirstName" name="first_name" placeholder="First Name" required="" type="text" value=""/><input class="form-control" id="LastName" name="last_name" placeholder="Last Name" required="" type="text" value=""/><input class="form-control" id="email" name="email" placeholder="Email" required="" type="email" value=""/><input class="form-control" id="phone" name="user_phone" pattern="[\+\s0-9]{3,15}" placeholder="Phone" title="Telephone number. 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Cannabis Weekly Round-Up: Mexico Sets Cannabis Regulations
Bryan Mc Govern
Mexico looks to be closer than ever to cannabis reform, with the country releasing its regulation plans to make the drug legal in medical settings.
Meanwhile, despite the financial hardships seen recently in the Canadian cannabis market, CEOs in the country are still receiving top dollar, as per a new study.
<p>Keep reading to find out more cannabis highlights from the past five days.</p> <div class="cp-text-ad"><div class="row text-ad-ofie"> <div class="ad-image large-4 medium-4 small-12 columns"><a href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> <img alt="Cannabis Free Report Cover" class="hide-for-small-only" src="https://cdn.investingnews.com/app/uploads/2020/05/Profiting-from-Cannabis-Industry-3D.jpg" title="Profiting from the Cannabis Industry"/></a></div> <div class="ad-copy large-8 medium-8 small-11 columns"><a href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> <h2 align="center" class="ofie">Find out what experts say about profiting from the cannabis market in 2021!</h2></a> <h5 align="center" class="subheadline">Read our FREE 2021 cannabis outlook report!</h5> <div align="center"><a class="button red radius" href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> Give me my free report! </a></div> </div> <!-- end large-8 --> </div></div> <h2>Mexico moves forward with medical cannabis</h2> <p>This past week, the Mexican health ministry showed its intentions when it comes to cannabis policy, publishing its regulations for the medical use of the drug.</p> <p>A Tuesday (January 12) <a href="https://www.reuters.com/article/us-mexico-cannabis/mexico-publishes-medicinal-cannabis-regulation-creating-new-market-idUSKBN29H2AG" rel="noopener noreferrer" target="_blank">report from Reuters</a> indicates the new policy was signed off on by Mexican President Andres Manuel Lopez Obrador.</p> <p class="Paragraph-paragraph-2Bgue ArticleBody-para-TD_9x">"(The regulation) is not aimed at patients growing their own cannabis, it is aimed at pharmaceutical companies producing pharmaceutical derivatives of cannabis which are classified as controlled substances that need prescription," Luisa Conesa, a pro-cannabis lawyer in the country, told Reuters.</p> <p>According to Conesa, the regulations will be very strict. While product imports will be allowed in some capacity, cannabis exports from Mexico won't be permitted.</p> <p>In addition to the new medical rules, the country plans to move ahead with recreational cannabis use reform in the near future.</p> <h2>Cannabis CEOs among the highest paid in Canada</h2> <p>A new <a href="https://www.policyalternatives.ca/sites/default/files/uploads/publications/National%20Office/2021/01/Golden%20cushion.pdf?utm_medium=email&amp;utm_source=newsletter&amp;utm_campaign=INTL_20200113_NEWS_Weekly" rel="noopener noreferrer" target="_blank">market research review</a> from the Center for Policy Alternatives (CCPA) indicates that cannabis CEOs are seeing some of the biggest salaries across the board in Canada.</p> <p>The study, <a href="https://mjbizdaily.com/cannabis-ceos-among-canadas-top-paid-executives-despite-losses/?utm_medium=email&amp;utm_source=newsletter&amp;utm_campaign=INTL_20200113_NEWS_Weekly" rel="noopener noreferrer" target="_blank">first reported by Marijuana Business Daily</a>, shows Canadian CEOs across all industries made 202 times what the average worker made in 2019; that's down from 2018, when the difference was greater. The average pay for the nation's top 100 CEOs in 2019 was C$10.8 million.</p> <div class="cp-text-ad"><div class="row text-ad-ofie"> <div class="ad-image large-4 medium-4 small-12 columns"><a href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> <img alt="Cannabis Free Report Cover" class="hide-for-small-only" src="https://cdn.investingnews.com/app/uploads/2020/05/Profiting-from-Cannabis-Industry-3D.jpg" title="Profiting from the Cannabis Industry"/></a></div> <div class="ad-copy large-8 medium-8 small-11 columns"><a href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> <h2 align="center" class="ofie">Find out what experts say about profiting from the cannabis market in 2021!</h2></a> <h5 align="center" class="subheadline">Read our FREE 2021 cannabis outlook report!</h5> <div align="center"><a class="button red radius" href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> Give me my free report! </a></div> </div> <!-- end large-8 --> </div></div> <p>Irwin Simon, CEO of Aphria (NASDAQ:<a href="https://investingnews.com/stock-information/?symbol=VFF:US" rel="noopener noreferrer" target="_blank">APHA</a>,TSX:APHA), was the highest-paid cannabis CEO in Canada in 2019, repeating from 2018, with total compensation of C$18.4 million for the year.</p> <p>The CCPA said it won't know the numbers for 2020 until the spring, but projections are showing that leading CEOs continued to see high financial rewards.</p> <p>Study author and CCPA Senior Economist David Macdonald said policymakers need to step up their efforts to guarantee that companies getting financial support from government sources don't boost the capital gains of their executives.</p> <h2>Cannabis company news</h2> <ul class="ee-ul"><li><strong>Village Farms International (NASDAQ:<a href="https://investingnews.com/stock-information/?symbol=VFF:US" rel="noopener noreferrer" target="_blank">VFF</a>,TSX:VFF)</strong> <a href="https://www.newswire.ca/news-releases/village-farms-international-announces-us-135-million-registered-direct-offering-870583621.html" rel="noopener noreferrer" target="_blank">confirmed a new offering</a> resulting in the sale of over 10 million shares in the company. It expects to see gross proceeds of US$135 million.</li> </ul><ul class="ee-ul"><li><strong>TerrAscend (CSE:<a href="https://investingnews.com/stock-information/?symbol=TER:CNX" rel="noopener noreferrer" target="_blank">TER</a>,OTCQX:TRSSF)</strong> <a href="https://www.newswire.ca/news-releases/terrascend-completes-second-phase-of-new-jersey-cultivation-and-manufacturing-facility-829307592.html" rel="noopener noreferrer" target="_blank">finished the second stage</a> of construction at its Boonton, New Jersey, cannabis facility, reaching approximately 80,000 square feet of indoor cultivation.</li> </ul><ul class="ee-ul"><li><strong>Planet 13 Holdings (CSE:<a href="https://investingnews.com/stock-information/?symbol=PLTH:CNX" rel="noopener noreferrer" target="_blank">PLTH</a>,OTCQB:PLNHF)</strong> <a href="https://www.newswire.ca/news-releases/planet-13-holdings-inc-announces-upsize-to-bought-deal-public-offering-832593345.html" rel="noopener noreferrer" target="_blank">upped the size</a> of a previously announced public offering. The company will now seek to collect C$60 million in gross proceeds from selling 8.5 million shares at a price of C$7 each.</li> </ul><ul class="ee-ul"><li><strong>Ayr Strategies (CSE:<a href="https://investingnews.com/stock-information/?symbol=AYR.A:CNX">AYR.A</a>,OTCQX:AYRWF)</strong> <a href="https://ir.ayrstrategies.com/news-events/press-releases/detail/66/ayr-strategies-announces-closing-of-offering-of-equity">laid out the details</a> of a new equity shares offering that will secure the company gross proceeds of approximately <span class="xn-money">C$137 million. The firm will offer 4 million shares at a price of C$34.25 each.</span></li> </ul><p><em>Don't forget to follow us <a href="https://twitter.com/inn_cannabis">@INN_Cannabis</a> for real-time updates!</em></p> <p><strong>Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.</strong></p> <div class="cp-text-ad"><div class="row text-ad-ofie"> <div class="ad-image large-4 medium-4 small-12 columns"><a href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> <img alt="Cannabis Free Report Cover" class="hide-for-small-only" src="https://cdn.investingnews.com/app/uploads/2020/05/Profiting-from-Cannabis-Industry-3D.jpg" title="Profiting from the Cannabis Industry"/></a></div> <div class="ad-copy large-8 medium-8 small-11 columns"><a href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> <h2 align="center" class="ofie">Find out what experts say about profiting from the cannabis market in 2021!</h2></a> <h5 align="center" class="subheadline">Read our FREE 2021 cannabis outlook report!</h5> <div align="center"><a class="button red radius" href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> Give me my free report! </a></div> </div> <!-- end large-8 --> </div></div>
Cresco Labs Announces Pricing of Offering of Subordinate Voting Shares
Not for Distribution to United States Newswire Services or for Dissemination in the United States
Cresco Labs (CSE:CL) (OTCQX:CRLBF) ("Cresco" or the "Company"), one of the largest vertically integrated multistate cannabis operators in the United States, announced today the pricing of its previously announced best efforts overnight marketed offering (the "Offering") of subordinate voting shares (the "Offered Securities") of the Company at a price of C$16.00 per share for a total gross proceeds of approximately US$125 Million. The issue price represents a 3.3% discount to the last close of the Company's subordinate voting shares traded on the Canadian Securities Exchange as of January 14, 2021. 100% of the Offering is expected to be purchased by a total of seven new and existing institutional investors, including current shareholder, Wasatch Global Investors.
<p> "In alignment with our stated strategy, this financing will allow us to make targeted investments within our strategic footprint to go deeper in each state and accelerate our growth," said Charlie Bachtell, CEO of Cresco Labs. "In 2020, we built leading market positions in both Illinois and Pennsylvania, and now it's time to use the same playbook to achieve market leadership across the remainder of our platform." </p> <p> The Offered Securities will be offered in each of the Provinces of Canada, other than Québec, pursuant to a prospectus supplement to the Company's base shelf prospectus dated July 25, 2019 (collectively, the "Prospectus") and in the United States on a private placement basis to "qualified institutional buyers" pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). In connection with the Offering, the Company intends to enter into an agency agreement with the agents and file the prospectus supplement describing the terms of the Offering with the securities regulatory authorities in each of the provinces of Canada, except Québec. </p> <p> Closing of the Offering is expected to occur on or about January 21, 2021 and will be subject to market and other customary conditions, including the requirements of the Canadian Securities Exchange. </p> <p> In addition, the Company intends to grant the agents a 30-day option to purchase up to an additional 15% of the Offered Securities pursuant to the proposed Offering on the same terms and conditions to cover over-allotments. </p> <p> The Company intends to use the net proceeds of the Offering for organic and inorganic growth opportunities and general corporate purposes. </p> <p> ATB Capital Markets Inc. is acting as sole bookrunner for the Offering. A.G.P./Alliance Global Partners is acting as the sole U.S. sub-agent and financial advisor to the Company in connection with the Offering in the United States. </p> <p> Copies of the Prospectus, following filing of the prospectus supplement, may be obtained on SEDAR at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedar.com&amp;esheet=52362672&amp;newsitemid=20210115005343&amp;lan=en-US&amp;anchor=www.sedar.com&amp;index=1&amp;md5=84a0dba51376ea91731b4f38ade64b30" rel="nofollow noopener noreferrer" shape="rect" target="_blank"> www.sedar.com </a> and from ATB Capital Markets Inc., 410-585 8th Ave SW, Calgary, Alberta, T2P 1G1. The Prospectus contains important detailed information about the Company and the proposed Offering. Prospective investors should read the Prospectus and the other documents the Company has filed on SEDAR at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedar.com&amp;esheet=52362672&amp;newsitemid=20210115005343&amp;lan=en-US&amp;anchor=www.sedar.com&amp;index=2&amp;md5=6a1fac576d0f21d583785575d6a6fc38" rel="nofollow noopener noreferrer" shape="rect" target="_blank"> www.sedar.com </a> before making an investment decision. </p> <p> No securities regulatory authority has either approved or disapproved of the contents of this news release. The subordinate voting shares have not been and will not be registered under the U.S. Securities Act or any state securities laws. Accordingly, the Offered Securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful. </p> <p> <b> About Cresco Labs </b> </p> <p> Cresco Labs is one of the largest vertically integrated, multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted brands including Cresco, Remedi, High Supply, Cresco Reserve, Good News, Wonder Wellness, FloraCal Farms and Mindy's Chef Led Artisanal Edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco Labs' national dispensary brand, is a wellness-focused retailer created to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco Labs operates the industry's largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry. </p> <p> <b> Forward Looking Statements </b> </p> <p> This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, 'may,' 'will,' 'should,' 'could,' 'would,' 'expects,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'projects,' 'predicts,' 'potential' or 'continue' or the negative of those forms or other comparable terms. The Company's forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under "Risk Factors" in the company's CSE Listing Statement filed with SEDAR; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company's forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco's shares, nor as to the Company's financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company's forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise. </p> <p> <img alt="" class="lazy" data-src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20210115005343r1&amp;sid=quot2&amp;distro=nx&amp;lang=en" data-srcset="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20210115005343r1&amp;sid=quot2&amp;distro=nx&amp;lang=en" srcset=""/><span></span> </p> <p id="mmgallerylink"> <span id="mmgallerylink-phrase"> View source version on businesswire.com: </span> <span id="mmgallerylink-link"> <a href="https://www.businesswire.com/news/home/20210115005343/en/" rel="nofollow noopener noreferrer" target="_blank"> https://www.businesswire.com/news/home/20210115005343/en/ </a> </span> </p> <p> <i> Media: </i> <br/><i> Jason Erkes, Cresco Labs </i> <br/><i> Chief Communications Officer </i> <br/><i> <a href="mailto:press@crescolabs.com" rel="nofollow noopener noreferrer" shape="rect" target="_blank"> press@crescolabs.com </a> </i> </p> <p> <i> Investors: </i> <br/><i> Jake Graves </i> <br/><i> Investor Relations </i> <br/><i> <a href="mailto:investors@crescolabs.com" rel="nofollow noopener noreferrer" shape="rect" target="_blank"> investors@crescolabs.com </a> </i> </p> <p> <i> For general Cresco Labs inquiries: </i> <br/><i> 312-929-0993 </i> <br/><i> <a href="mailto:info@crescolabs.com" rel="nofollow noopener noreferrer" shape="rect" target="_blank"> info@crescolabs.com </a> </i> </p> </div> <p>News Provided by Business Wire via QuoteMedia</p> <p></p><div class="cp-text-ad"><div class="row text-ad-ofie"> <div class="ad-image large-4 medium-4 small-12 columns"><a href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> <img alt="Cannabis Free Report Cover" class="hide-for-small-only" src="https://cdn.investingnews.com/app/uploads/2020/05/Profiting-from-Cannabis-Industry-3D.jpg" title="Profiting from the Cannabis Industry"/></a></div> <div class="ad-copy large-8 medium-8 small-11 columns"><a href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> <h2 align="center" class="ofie">Find out what experts say about profiting from the cannabis market in 2021!</h2></a> <h5 align="center" class="subheadline">Read our FREE 2021 cannabis outlook report!</h5> <div align="center"><a class="button red radius" href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> Give me my free report! </a></div> </div> <!-- end large-8 --> </div></div>
Ready for New Cannabis and Psychedelics Boom Ahead: CEOs of Aphria, Icanic Brands, Red Light Holland, and Tilray Discuss New Global Market Opportunities
Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Tilray, Inc. (NASDAQ: TLRY), Icanic Brands (OTC: ICNAF) (CSE: ICAN) Red Light Holland (OTC: TRUFF) (CSE: TRIP) and Aphria, Inc. (NASDAQ: APHA).
Investors are cheering new and expected legislation which is opening new market opportunities for both cannabis and psychedelics globally. Innovation in premium branding, growing technologies, manufacturing, with operational execution are key, in the drive towards profitability. Wall Street Reporter highlights the latest comments from industry thought leaders in cannabis and psychedelics:
<p> <strong> Red Light Holland (OTC: TRUFF) (CSE: TRIP) CEO Todd Shapiro: "Psychedelics is Next Billion Dollar Market Opportunity" </strong> </p> <p> Cannabis industry pioneer Bruce Linton is relishing his new role as Advisory Board Chairman at Red Light Holland (OTC: TRUFF) (CSE: TRIP). Recently he joined TRUFF CEO Todd Shapiro on Wall Street Reporter's NEXT SUPER STOCK investors livestream to discuss the coming global boom in psychedelics. TRUFF produces and sells recreational grade psychedelic Magic Truffles to the current legal adult use market in the Netherlands, and is planning global expansion as legislation is rapidly changing globally. In his Wall Street Reporter interview, Bruce Linton explains why he sees "Psychedelics is the New Cannabis", and how he is helping TRUFF get positioned to capitalize on this generational market opportunity for psychedelics. </p> <p> <strong> Watch TRUFF Next Super Stock livestream Video: </strong> <a href="https://www.globenewswire.com/Tracker?data=JajTddh--TSJoeFxl8BgkD9nzujU-ah8A_rZDS64WIDHSi7oemZrpAwmbYGUomqxmx_rTt07pPvg5cy1WrTIRg==" rel="nofollow noopener noreferrer" target="_blank"> <strong> <u> http://bit.ly/2XKX1zT </u> </strong> </a> </p> <p> January 7 <strong> – </strong> TRUFF announces it's bought deal financing with Eight Capital has been upsized to C$8.5 million. </p> <p> December 30 – TRUFF enters into non-binding letter of intent to acquire 100% of Mera Life Sciences LLC ("Mera"), a company focused on developing a modern medicinal industry in St Vincent and the Grenadines, with their issued Psychedelic Licenses, which includes the following plants and compounds: Mushrooms/Truffles – Psilocybin, Ketamine, Ayahuasca, Methyl​enedioxy​methamphetamine (MDMA) and other compounds. "The acquisition of Mera and its coveted licenses would allow Red Light Holland to perform high quality psychedelic product research and development, cultivate, extract and process, and export not just Psilocybin, but with compounds such as Ayahuasca, MDMA, DMT, Peyote, Ketamine and many other natural based plants as well. We are The People's Company and we want to work closely with countries wishing to develop plant and fungus-based remedies – including treatment clinics, and we now understand that St. Vincent and the Grenadines shares our vision," said Todd Shapiro, CEO and Director of Red Light Holland. </p> <p> December 15 – TRUFF announced it has commenced growing its second crop of approximately 1,000,000 (1 Million) grams of magic truffles consisting of three different strains, including Psilocybe Mexicana, Psilocybe Galindoi, and Psilocybe Tampanensis. "Red Light Holland is ecstatic to announce that we have started to grow our second batch of magic truffles, expected to be 10X the original batch's size totalling an expected 1,000,000 (1 Million) grams of Magic Truffles. We are proud as a company, in the Psychedelic sector to actually produce product now, as opposed to making mere projections about the future. We believe in providing responsible adult access now, through education and information and we are happy to be moving so quickly and efficiently," </p> <p> <strong> Watch TRUFF Next Super Stock livestream Video: </strong> <a href="https://www.globenewswire.com/Tracker?data=JajTddh--TSJoeFxl8BgkD9nzujU-ah8A_rZDS64WIBchme8SaWBvBvho2MhGh4DYLS4ualT_ZnZbo3OJr0A3w==" rel="nofollow noopener noreferrer" target="_blank"> <strong> <u> http://bit.ly/2XKX1zT </u> </strong> </a> </p> <p> <strong> Icanic Brands (OTC: ICNAF) (CSE: ICAN) CEO Brandon Kou: "Ready to Scale with Quality Brands, and a Superior Gross Margin Profile" </strong> </p> <p> "The Tesla of Cannabis" is what some savvy investors are calling Icanic Brands (OTC: ICNAF) (CSE: ICAN), after it's recent presentation at Wall Street Reporter's "Investors Discovery Day" livestream. ICNAF is a leader in the California market, and specifically in the pre-rolled space, with its award-winning, "Ganja Gold" brand, sold in hundreds of retail outlets. A key component of ICNAF's success is its pre-roll manufacturing technologies which produce consistent, high-quality pre-rolls at high gross margins – a major competitive advantage in the cannabis industry. </p> <p> <strong> Watch ICNAF NEXT SUPER STOCK video: </strong> <a href="https://www.globenewswire.com/Tracker?data=JajTddh--TSJoeFxl8BgkPoE8kMxtNnQbtEA9QBTcOp2sMsAmHo_EBUVHRYRVzk16SdYIwDqc90iPn0dsl9TAg6ygonk7M-WSnbqxg88vIU=" rel="nofollow noopener noreferrer" target="_blank"> <strong> <u> http://bit.ly/2Lz5l2E </u> </strong> </a> </p> <p> In his livestream presentation, ICNAF CEO Brandon Kou outlined the company's growth strategy, based on a "three pillar approach": sales platform, technology, and vertical integration which lead to a superior gross margin profile. With a profitable foundation established, ICNAF is now at an inflection point where it's ready to start scaling revenues and expand with strategic M&amp;A opportunities. </p> <p> January 5, 2021 – INCAF reports Q3 revenue of $2.65 million, up 45% from the previous year quarter ended October 31, 2019, and Gross margin of $1.21M (46%) resulting in 58.6% increase from the prior year period driven by Icanic's commitment to automation and vertical integration. Adjusted EBITDA of $167,637, up from a Negative Adjusted EBITDA of $1,503,270 from the prior year period. </p> <p> December 9 – ICNAF signs LOI to acquire THC Engineering, LLC, which manufactures one of a kind automation technology for the rapidly expanding cannabis manufacturing industry, and renowned for its world-leading, automated pre-roll technology. "Technology has always been a key focus and one of the three pillars that allows Icanic to truly differentiate itself and target a superior gross margin profile," said Brandon Kou, CEO of Icanic. "The opportunity to acquire THC Engineering and its world class team was something that we could simply not pass up. This agreement reinforces our commitment to technology by bringing on a team that has built one of a kind manufacturing equipment for the likes of Tesla, Genentech and Johnson &amp; Johnson." </p> <p> <strong> Watch ICNAF NEXT SUPER STOCK video: </strong> <a href="https://www.globenewswire.com/Tracker?data=JajTddh--TSJoeFxl8BgkPoE8kMxtNnQbtEA9QBTcOp_zO0pu9Cq_00pwrjHJUaFmlAinSKUC7z7pK0oU6ySXqsczka8_u0OSbADS78zKeU=" rel="nofollow noopener noreferrer" target="_blank"> <strong> <u> http://bit.ly/2Lz5l2E </u> </strong> </a> </p> <p> <strong> Tilray, Inc. (NASDAQ: TLRY) CEO, Brendan Kennedy: " </strong> <strong> Leading geographic scale, Product Range and Brands – Key to Cannabis Success" </strong> </p> <p> <strong> December 16 – </strong> Tilray and Aphria announce they are combining, creating the world's largest cannabis company with $685 million proforma revenue. In last month's earnings call, Tilray CEO Brendan Kennedy shares his vision for global cannabis: </p> <p> "…We are operating in an efficient manner across our entire business, global medical cannabis, Canadian adult use-cannabis and global hemp. With the completion of our significant cost reductions, we are now poised to leverage our cost structure and ensure we are one of the global winners in this industry. We have ample cash availability on our ATM to execute our strategy…With our infrastructure in place, we will continue to focus on building brands and developing products that resonate with consumers and established Tilray as the most trusted cannabis and hemp company in the world." </p> <p> "…I think that we'll see possibly the entire EU legalize cannabis for medical-use over the course of the next, let's call it, 18 months…We are committed to long-term profitable growth in Europe as regulations continue to change and country markets develop…The commitments we have made to the EU market with our Portugal GMP campus and regional leadership team based in Germany, position us well to continue to capture market share in Germany and more broadly in Europe…" </p> <p> <strong> Tilray, Inc. (NASDAQ: TLRY) Earnings Call Highlights: </strong> <a href="https://www.globenewswire.com/Tracker?data=EVUCdWlZRF1KPvtuBivhUxfLQO2xnTGXY6EzgsWiCBsBY-8Xw-Ki2BpFpHf3LHNcogDfZFeEqd--M1MWbjLb_qEaqgOYRUqntPNtgWXh2I0=" rel="nofollow noopener noreferrer" target="_blank"> <strong> <u> https://bit.ly/3m2MqdY </u> </strong> </a> </p> <p> <strong> Aphria, Inc. (NASDAQ: APHA) CEO Irwin Simon: "Laser Focus on Profitability" </strong> </p> <p> "…We are outperforming many of those in the marketplace with solid market share gains in Canada with new brands, product innovation, which will continue to evolve as we anticipate changing consumer and patient preferences and demands….We have made substantial changes across our entire organization to position Aphria for sustainable long-term growth with a strategic focus on solidifying our strong Canadian foundation by driving category leadership with strong carefully curated brands and the introduction of many new innovative products, and increasing our market share in the Canadian market with a focus on operational excellence and being which we are that low cost, high-quality producer, increasing our profitability through continued cost managing and having that strong cash position for growth and expanding our geographic reach, where it makes sense and that is something that we have focused on. These initiatives helped propel Aphria forward to be the number one cannabis company today." </p> <p> <strong> Aphria (NASDAQ: APHA) Q1 2021 Earnings Call Highlights: </strong> <a href="https://www.globenewswire.com/Tracker?data=EVUCdWlZRF1KPvtuBivhU8gQvnWHy8I1YrvhJKcbknIfWTh_vvynSy5rU6yIUhSYk0DvH_73ZshiqOegOexQnBEj0xtVLDJAG0RdMAkEvdE=" rel="nofollow noopener noreferrer" target="_blank"> <strong> <u> https://bit.ly/38grXyn </u> </strong> </a> </p> <p> <strong> WALL STREET REPORTER </strong> </p> <p> Wall Street Reporter (Est. 1843) is the leading financial news provider, focused on giving investors direct access to CEOs of promising, publicly-traded companies, and market experts. <a href="https://www.globenewswire.com/Tracker?data=V9dUenIk1uGbFQAQkcKYitXz_bQwUYYdZC6vAWF4_YY7MutwFuZ4_0zBeLIiv2fW6oAYrDaFcQvY2qsLgJaZeL3iECu7jUT8Och73f5u4Feojx7Ro5x6zOZg2eySyzAp" rel="nofollow noopener noreferrer" target="_blank"> <u> www.WallStreetReporter.com </u> </a> </p> <p> <strong> About Wall Street Reporter's Next Super Stock conference: </strong> </p> <p> Wall Street Reporter's NEXT SUPER STOCK Live! conference is dedicated to featuring select companies that have near-term catalysts in place which can drive transformational growth (and stock appreciation) in the months ahead. Click here to join next livestream event: <a href="https://www.globenewswire.com/Tracker?data=EVUCdWlZRF1KPvtuBivhU8hHpffVApwbUcpIaJbjtsf5fvc_KHAlZqbfvtz7VIu9CQT0DolnwVP0huEaopSN3SOHuWYoZc43RTjG9WkHHoW_hnrT5x951BRRFUS3Q7tV9kJCclZDVwxg4IvarIlH6OF4UDlZBnJvY74dJqTfWXVSH8U0tJcrNo3Ax5EiXfZyUCSB3RRq65YwD7jytl7euSFJaVw_p_MlTOMoEqvdFSOYf7w9lFUfkAAvlcLWwYAV" rel="nofollow noopener noreferrer" target="_blank"> <u> https://www.wallstreetreporter.com/next-superstock-online-investor-conference/ </u> </a> </p> <p> CONTACT: </p> <p> WALL STREET REPORTER </p> <p> (212) 871-2057 ext 7 </p> <p> <u> <a href="https://www.globenewswire.com/Tracker?data=V9dUenIk1uGbFQAQkcKYitXz_bQwUYYdZC6vAWF4_YY8Gup9JPKS781t7WQ4lTDHMZyIR5dm_RX8MixheWx8Cum5ADmvrulLxBbjQoBNcpoKeC6EYkNQ-vajLuqjO7ph" rel="nofollow noopener noreferrer" target="_blank"> www.WallStreetReporter.com </a> </u> </p> <p> <img class="lazy" data-src="https://www.globenewswire.com/newsroom/ti?nf=ODEyNjY3MiMzOTIxMjI1IzIxNzgyNDE=" data-srcset="" height="1" src="https://www.globenewswire.com/newsroom/ti?nf=ODEyNjY3MiMzOTIxMjI1IzIxNzgyNDE=" srcset="" width="1"/><br/><img class="lazy" data-src="https://ml.globenewswire.com/release/track/7da8a659-35fa-444c-8eac-bb2db9fce6b2" data-srcset="" height="1" referrerpolicy="no-referrer-when-downgrade" src="https://ml.globenewswire.com/release/track/7da8a659-35fa-444c-8eac-bb2db9fce6b2" srcset="" width="1"/></p></div> <p>News Provided by GlobeNewswire via QuoteMedia</p> <p></p><div class="cp-text-ad"><div class="row text-ad-ofie"> <div class="ad-image large-4 medium-4 small-12 columns"><a href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> <img alt="Cannabis Free Report Cover" class="hide-for-small-only" src="https://cdn.investingnews.com/app/uploads/2020/05/Profiting-from-Cannabis-Industry-3D.jpg" title="Profiting from the Cannabis Industry"/></a></div> <div class="ad-copy large-8 medium-8 small-11 columns"><a href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> <h2 align="center" class="ofie">Find out what experts say about profiting from the cannabis market in 2021!</h2></a> <h5 align="center" class="subheadline">Read our FREE 2021 cannabis outlook report!</h5> <div align="center"><a class="button red radius" href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> Give me my free report! </a></div> </div> <!-- end large-8 --> </div></div>
Lexaria Bioscience Corp. Announces Closing of $11 Million Public Offering with Full Exercise of Underwriter Option to Purchase Additional Shares and Warrants
Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the "Company") today announced the closing of its previously announced underwritten public offering (the "Offering") of 1,828,571 units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock at a public offering price of $5.25 per unit (all prices in US$). The warrants have an exercise price of $6.58 per share, are immediately exercisable and will expire five years following the date of issuance. In connection with the Offering, the underwriter exercised in full its option to purchase an additional 274,285 shares of common stock and additional warrants to purchase 274,285 shares of common stock. The gross proceeds from the Offering were approximately $11.04 million, before deducting underwriting discounts and estimated offering expenses. No securities were offered or sold in Canada, including through the CSE or any other trading market in Canada
H.C. Wainwright & Co. ("Wainwright") acted as the sole book-running manager for the Offering and is a non-related party to the Company.
<p>In connection with the Offering, the Company's common stock and warrants began trading on the Nasdaq Capital Market on January 12, 2021 under the symbols "LEXX" and "LEXXW," respectively.</p> <p>All share numbers and pricing information in this press release reflect the Company's previously announced 1-for-30 reverse stock split of its common stock, which was effective at 4:30 p.m., Eastern time, on January 11, 2021.</p> <p>The Company agreed to pay Wainwright an underwriting discount equal to 8% of the gross proceeds of the Offering and a management fee equal to 1% of the gross proceeds of the Offering, and to reimburse Wainwright for a non-accountable expense allowance of $50,000, up to $100,000 in legal fees and up to $12,900 for clearing expenses. Additionally, as partial compensation for Wainwright's services as underwriter in the Offering, the Company also issued to Wainwright five-year warrants ("Representative Warrants") to purchase 166,781 shares of common stock with an exercise price of $6.58 per share.</p> <p>The securities described above were offered by the Company pursuant to a registration statement on Form S-1 (File No. 333-250326) that was previously filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective on January 11, 2021, and an additional registration statement on Form S-1 filed pursuant to Rule 462(b) (File No. 333-252031), which became automatically effective on January 11, 2021. This Offering was made only by means of a prospectus. A final prospectus relating to the Offering has been filed with the SEC. Electronic copies of the final prospectus relating to the Offering may be obtained for free by visiting the SEC's website at www.sec.gov or by contacting H.C. Wainwright &amp; Co., LLC, 430 Park Avenue, 3rd Floor, New York, New York 10022, by email at placements@hcwco.com or by telephone at (646) 975-6996.</p> <p>Pursuant to certain tail rights held by Bradley Woods &amp; Co. Ltd., further to the Company's May 2020 private placement financing, the Company is paying Bradley Woods $316,999.62 and issuing to Bradley Woods or its designees five-year warrants to purchase 60,385 shares of common stock at an exercise price of $6.58 per share.</p> <p>This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.</p> <p><b>About <a href="https://investingnews.com/company-profiles/lexaria-bioscience-cse-lxx-cannabinoid-biotechnology-licensing/">Lexaria Bioscience</a> Corp.</b></p> <p>The Company's proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 – 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies, including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 patents pending worldwide. For more information, please visit <a href="https://investingnews.com/company-profiles/lexaria-bioscience-cse-lxx-cannabinoid-biotechnology-licensing/" rel="noopener noreferrer" target="_blank">www.lexariabioscience.com</a>.</p> <p><b>Cautionary Statement Regarding Forward-Looking Statements</b></p> <p>Statements in this press release contain "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including statements regarding the intended use of net proceeds from the public offering; consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.</p> <p><i>The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.</i></p> <p><b>INVESTOR CONTACT: </b></p> <p><u><a href="mailto:ir@lexariabioscience.com" rel="noopener noreferrer" target="_blank">ir@lexariabioscience.com</a></u><br/>Phone: 866-221-3341</p> <p><strong>SOURCE: </strong><a href="https://investingnews.com/company-profiles/lexaria-bioscience-cse-lxx-cannabinoid-biotechnology-licensing/">Lexaria Bioscience</a> Corp.</p> <p>View source version on accesswire.com: <br/><a href="https://www.accesswire.com/624414/Lexaria-Bioscience-Corp-Announces-Closing-of-11-Million-Public-Offering-with-Full-Exercise-of-Underwriter-Option-to-Purchase-Additional-Shares-and-Warrants" rel="noopener noreferrer" target="_blank">https://www.accesswire.com/624414/Lexaria-Bioscience-Corp-Announces-Closing-of-11-Million-Public-Offering-with-Full-Exercise-of-Underwriter-Option-to-Purchase-Additional-Shares-and-Warrants</a></p> <p><img class="lazy" data-src="https://www.accesswire.com/img.ashx?id=624414" data-srcset="" height="0" src="https://www.accesswire.com/img.ashx?id=624414" srcset="" width="0"/></p></div> <p>News Provided by ACCESSWIRE via QuoteMedia</p> <p></p><div class="stock-information sidebar-block"> <div class="title">Request an Investor Kit: <h3>Lexaria Bioscience</h3></div> <form action="https://investingnews.com" id="subscribe_per_category" method="POST"> <div class="form-column left"> <input name="profiles_only" type="hidden" value="yes"/><input name="subscription_form" type="hidden" value="yes"/><input name="subscribe_company_profile_form" type="hidden" value="1"/><input name="source" type="hidden" value="https://investingnews.com/news/biotech-investing/lexaria-bioscience-corp.announces-closing-of-11-million-public-offering-with-full-exercise-of-underwriter-option-to-purchase-additional-shares-and-warrants/"/><input class="referrer" name="referral_url" type="hidden" value=""/><input name="form_name" type="hidden" value="subscribe_cprofile_use_posts"/><input class="referrer" name="referral_url" type="hidden" value=""/><input name="cprofiles[]" type="hidden" value="Tzo4OiJzdGRDbGFzcyI6NDp7czoyOiJpZCI7czozNjoiZDdmMGRiYjktYmEzNy1kMzgzLWVmZGMtNWMwNTZkODRjZjA2IjtzOjQ6Im5hbWUiO3M6MTg6IkxleGFyaWEgQmlvc2NpZW5jZSI7czo0OiJ3cGlkIjtzOjc6IjEzMTQ4NDgiO3M6MzoidXJsIjtzOjA6IiI7fQ=="/><input class="form-control" id="FirstName" name="first_name" placeholder="First Name" required="" type="text" value=""/><input class="form-control" id="LastName" name="last_name" placeholder="Last Name" required="" type="text" value=""/><input class="form-control" id="email" name="email" placeholder="Email" required="" type="email" value=""/><input class="form-control" id="phone" name="user_phone" pattern="[\+\s0-9]{3,15}" placeholder="Phone" title="Telephone number. 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