Proactive Investors - Run By Investors For Investors

Lexaria Bioscience renews CEO Chris Bunka and President John Docherty's contracts

The new contracts last for three years and will allow the company to make sure its senior team stays in place in the near-term
cannabis plant
Lexaria has also reached agreements to cancel 1.14 million stock options with exercise prices ranging from US$0.10 to US$2.06

Lexaria Bioscience Corp (CSE:LXX) (OTCMKTS:LXRP), the cannabis company, announced Tuesday that it has successfully renewed the management contracts for both its CEO Chris Bunka and its President John Docherty.

The new contracts last for three years and will allow the Kelowna, British Columbia-based company to make sure its senior team stays in place at a time when its business is growing considerably.

READ: Lexaria Bioscience announces optimistic new trial results for its hemp oil capsule TurboCBD

In other news, Lexaria also said it has reached agreements to cancel 1.14 million stock options with exercise prices ranging from US$0.10 to US$2.06.

The backbone of Lexaria’s business is a technology called Dehydratech. Essentially, it allows cannabidiol (CBD) and other oils to be dehydrated into an odorless, tasteless powder and mixed with xanthan gum, corn flour and other base ingredients which can then be added to foods, drinks and creams.

Lexaria has multiple patents pending in over 40 countries and already has patents in the US and in Australia for Dehydratech.

Lexaria shares slipped C$0.09 to hit C$1.43 on Tuesday.

-- This story is updated to reflect latest share price movement -- 

Contact Ellen Kelleher at [email protected]

 

 

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full LXX profile View Profile

Lexaria Bioscience Corp Timeline

Related Articles

medicinal cannabis concept
January 30 2019
Zelda has released its December quarterly report confirming multiple trials are on track.
cannabis plant
June 17 2019
The company recently underwent a brand identity redesign and unveiled a new wknd! product line consisting of pre-rolls, vape pens and cannagars which it will launch in July in Washington State
cannabis bud on tray
April 25 2019
Armed with a new partnership with Canada's largest pharmacy and an international cultivator, Flowr is aiming to provide medicinal and recreational consumers around the world with premium, high-quality cannabis
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use