|From: NetworkNewsWire (Rep: 0)||Date: 02/07/2019 16:13|
|Forum: Penny Stocks - Msg #2741 - List LXRP msgs ||Thread #674062325 (Rec: 0) |
|NetworkNewsBreaks – Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Subsidiary Secures Key R&D Funding for Oral Nicotine Delivery Using DehydraTECH Technology|
Lexaria Bioscience’s (CSE: LXX) (OTCQX: LXRP) wholly owned subsidiary, Lexaria Nicotine LLC, recently struck a deal with a large tobacco partner, securing significant R&D financing for the company’s DehydraTECH absorption platform (http://nnw.fm/A0iyv). A recent article discussing the company reads, “Through the agreement, the partner also has the option to provide up to $11 million in additional research through multiple phased private financings to underwrite LXRP’s R&D. In exchange, the partner will receive certain license rights to commercialize these DehydraTECH products exclusively in the United States and non-exclusively elsewhere. The partner, the largest cigarette company in the U.S., will be obligated to pay LXRP a royalty on sales of all products that use DehydraTECH. . . . The partner will have the option to buy full ownership of LXRP’s subsidiary, but no equity in LXRP itself, per the terms of the agreement. Additionally, the partner will have the right to appoint one of the seven directors of LXRP, and, as the phased additional investments are made, it may have the right to appoint up to three directors.”
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