SOURCE: Lexaria Corporation

October 27, 2006 13:38 ET

Lexaria Corporation Announces the Following Management Changes

VANCOUVER, BC -- (MARKET WIRE) -- October 27, 2006 -- Lexaria Corp. (OTCBB: LXRA) (the "Company" or "Lexaria") Mr. Chris Bunka has been appointed President, Chief Executive Officer, and Chairman of the Board. Mr. Bunka is a venture capitalist and corporate consultant and will assist Lexaria as it grows into its planned oil & gas production phases, and additional potential acquisitions. Mr. Leonard MacMillan will remain as a director and has been appointed Vice President of Corporate Development, following his resignation as President and Chairman of the Board. Diane Rees remains as Director, Secretary and Treasurer, and Peter Philipchuck, P.Geol., remains on the Lexaria advisory board.

About Lexaria Corp.

Lexaria Corp. is an oil & gas company active in Mississippi, Oklahoma and in Alberta, Canada. The main focus currently is Mississippi, where it holds between 20% and 40% gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities.

Statements, which are not historical facts, are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. 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. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. 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 and other factors which may be identified from time to time in the Company's public announcements and filings.

Contact Information

  • Contact:
    Leonard MacMillan
    (604) 602-1675