Lexaria Bioscience Corp. (CSE: LXX) (OTCQB: LXRP) this morning announced that the Australian Patent Office has granted patent #2015274698, which protects Lexaria’s method of improving absorption, speed of onset and taste of cannabinoid active agents in edible products. The term of the patent is 20 years from June 10, 2015. “We are very pleased to have received this patent which effectively covers all cannabis oil extract formulated edibles utilizing our technology in Australia,” Chris Bunka, CEO of Lexaria, stated in the news release. “This patent award allows us to confidently enter the recently legalized Australian cannabis marketplace where we will seek additional licensing and product distribution partnering opportunities.” This morning’s announcement follows the award of a similar patent in the United States in October 2016. Lexaria intends to continue developing and solidifying its patent portfolio through the balance of 2017 and 2018.
Additionally, Lexaria this morning announced that it has received $6,250.75 from the exercise of 27,500 stock options previously granted with an exercise price of $0.2273. These options were exercised by a third party who is neither an officer nor a director of the company.
To view the full press release, visit http://dtn.fm/s7zdH
About Lexaria
Lexaria Bioscience Corp. has developed and out-licenses its disruptive technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has multiple patents pending in over 40 countries around the world and was granted its first patents in the USA and in Australia related to edible forms of cannabinoids. Lexaria’s technology provides increases in intestinal absorption rates; more rapid delivery to the bloodstream; and important taste-masking benefits, for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules. For more information, visit www.LexariaBioscience.com
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