Deal funds acquisition or building of medicinal marijuana operations
By Devika Patel
Knoxville, Tenn., Sept. 29 – Lexaria Corp. settled a $45,780 private placement of units on Sept. 22, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 305,200 units of one common share and a warrant at $0.15 per unit. The warrants are each exercisable at $0.25 for 18 months. The strike price reflects a 150% premium to the Sept. 19 closing share price of $0.10.
Proceeds will be used for general working capital, administrative uses and for the acquisition or building of medicinal marijuana operations.
Lexaria is a Vancouver, B.C.-based oil and gas company.
| Issuer: | Lexaria Corp.
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| Issue: | Units of one common share and a warrant
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| Amount: | $45,780
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| Units: | 305,200
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| Price: | $0.15
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| Warrants: | One warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | $0.25
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| Pricing date: | Sept. 22
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| Stock symbol: | OTCBB: LXRP
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| Stock price: | $0.10 at close Sept. 19
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| Market capitalization: | $2.57 million
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