Deal funds development, deployment, marketing of cannabidiol products
By Devika Patel
Knoxville, Tenn., Dec. 10 – Lexaria Corp. completed a $90,000 private placement of units on Dec. 10, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 500,000 units of one common share and one warrant at $0.18 per unit.
Each warrant is exercisable at $0.30 for two years. The strike price is a 57.9% premium to the Dec. 9 closing share price of $0.19.
Leede Financial Markets Ltd. was paid a $2,520 cash finders’ fee and received 14,000 broker warrants.
Proceeds will be used for development, deployment and marketing of cannabidiol products.
Vancouver, B.C.-based Lexaria is a food sciences company focused on delivering cannabinoid compounds procured from legal, agricultural hemp.
| Issuer: | Lexaria Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $90,000
|
| Units: | 500,000
|
| Price: | $0.18
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.30
|
| Settlement date: | Dec. 10
|
| Stock symbol: | OTCBB: LXRP
|
| Stock price: | $0.19 at close Dec. 9
|
| Market capitalization: | $7.13 million
|
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