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8-K - FORM 8-K - Lexaria Bioscience Corp. | form8k.htm |
Exhibit 99.1
Lexaria Receives Notice of its First Patent to be Granted in Australia for Cannabinoid Infused Edibles
Kelowna, BC / February 27, 2017 / Lexaria Bioscience Corp. (OTCQB:LXRP) (CSE:LXX) (the Company or Lexaria) is pleased to announce it has received a Notice of Acceptance from the Australian Patent Office that Lexarias Australian patent application 2015274698 has been accepted with a patent issuance date expected in June, 2017. This establishes Lexarias first successful acceptance for patent issuance outside of the USA, in what the Company expects will be a series of successful international patent awards.
The Notice of Acceptance covers Lexaria patent application entitled Food and beverage compositions infused with lipophilic active agents and methods of use thereof, which has been accepted with the same set of claims previously issued in US Patent No 9,474,725 specific to non-psychoactive cannabinoids.
Lexaria is very pleased with the rapid advancement of its patent claims by the Australian Patent Office and notes Australias recent federal legislative success in opening the medical cannabis market. Like Canada, the medical cannabis market in Australia is federally legal.
Lexarias technology is needed not just in the US, but throughout the global cannabis sector, which is why we have patent applications in place in 42 countries around the world, said Chris Bunka, CEO. Our international applications offer the safety of unparalleled diversification to our supporters that even individual national market leaders cannot offer. The accepted patent application includes a series of Lexarias method claims for combining non-psychoactive cannabinoid lipophilic active agents together with a bioavailability and taste enhancing oil by way of dehydration or lyophilization, and doing so in contact with a food product substrate material. Lexaria still has a number of additional patent applications undergoing review by the USPTO and patent application continuations planned in order to further broaden its expected set of compositional and method patent claims regarding the technology for application with other molecules such as psychoactive cannabinoids; vitamins; NSAIDs; and Nicotine.
The Company continues to thank its many supporters who have contributed to its intellectual property success.
About Lexaria
Lexaria Bioscience Corp. is a food
biosciences company with a proprietary technology for improved delivery of
bioactive compounds. The Companys lipophilic enhancement technology has been
shown to enhance the bioavailability of orally ingested cannabinoids, while also
improving taste. This technology promotes healthy ingestion methods, lower
overall dosing and higher effectiveness in active molecule delivery. The
Companys technology is patent-protected for cannabidiol (CBD) and all other
non-psychoactive cannabinoids, and patent-pending for Tetrahydrocannabinol (THC), other psychoactive cannabinoids,
non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.
www.lexariabioscience.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Bioscience
Corp.
Chris Bunka
Chairman & CEO
(250) 765-6424
FORWARD-LOOKING STATEMENTS
This release includes
forward-looking statements. Statements which are not historical facts are
forward-looking statements. The Company makes forward-looking public statements
concerning its expected future financial position, results of operations, cash
flows, financing plans, business strategy, products and services, competitive
positions, growth opportunities, plans and objectives of management for future
operations, including statements that include words such as "anticipate," "if,"
"believe," "plan," "estimate," "expect," "intend," "may," "could," "should,"
"will," and other similar expressions are forward-looking statements, including
but not limited to: that any additional stock warrants or stock options will be
exercised. 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 other factors will
not affect the accuracy of such forward-looking statements. There is no
assurance that the expected Australian patent granting will occur in June 2017
or at any point in the future and there is no assurance that any additional
patents will be granted in the USA or in any other global location. Access to
capital, or lack thereof, is a major risk and there is no assurance that the
Company will be able to raise required working capital. Factors which could
cause actual results to differ materially from those estimated by the Company
include, but are not limited to, government regulation, managing and maintaining
growth, the effect of adverse publicity, litigation, competition, the patent
application and approval process and other factors which may be identified from
time to time in the Company's public announcements and filings. There is no
assurance that existing capital is sufficient for the Company's needs or that it
will be able to raise additional capital. There is no assurance that Lexaria
will successfully complete any other contemplated or existing technology license
agreements. There is no assurance that any planned corporate activity, business
venture, or initiative will be pursued, or if pursued, will be successful. There
is no assurance that any of Lexarias 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 Energy Foods and ViPovaTM products
are not intended to diagnose, treat, cure or prevent any disease.