SEATTLE, WA--(Marketwired - Apr 6, 2017) - CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article discussing Lexaria Bioscience Corp.'s (OTCQB: LXRP) recent product launches and the closing of the company's private placement.
Lexaria recently announced the launch of its TurboCBD™ brand of enhanced, high-absorption, full-spectrum hemp oil capsules. The capsules incorporate the company's patented absorption technology -- proven to increase CBD absorption by five to ten times compared to conventional preparations -- along with the finest American Ginseng and Ginkgo Biloba to support enhanced focus and memory as well as reduced stress and fatigue.
The market for cannabidiol ("CBD") is expected to grow to a $2.1 billion market in consumer sales by 2020, according to the Hemp Business Journal, with about $450 million of those sales coming from hemp-based sources. While there are plenty of companies involved in selling hemp-based CBD products, there are few options for solving the problems associated with the bioavailability of CBDs, which tends to be lacking in many products.
In addition to TurboCBD™, the company plans to launch other capsule formulations utilizing its patented absorption technology to address specific market demands. Management is also developing and seeking opportunities to leverage its technology for tetrahydrocannabinol ("THC") product applications through licensees in the United States, Canada, and other countries around the world -- potentially opening the door to new markets.
Lexaria has leveraged a combination of public and private capital to support the development of its innovative portfolio of products. With this combination, the company is able to offset some of its research and development expenses to bring products to market more quickly and effectively than ever possible.
On April 3, the company announced the completion of a brokered private placement of 4,104,280 units at a price of US$0.42 each for total gross proceeds of US$1,723,798. The units of the offering consist of one common share and one-half share purchase warrant at a price of US$0.60 per share for a 24-month period. The proceeds of the offering will be used to advance the research and development of its patented delivery technology.
In addition the company raised in excess of US$1 million in recent months from existing shareholders who have exercised existing warrants and stock options.
The most recent capital raise also marks the first time ever that the company has a runway of greater than one year, which will help limit future dilution. In fact, Lexaria is better capitalized today than at any point in its history, giving the company its best-ever opportunity to leverage its technology to the benefit of its B2B partners.
Please follow the link to read the full article: http://www.cannabisfn.com/lexaria-approaches-tipping-point-new-products-financing/
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CFN Media (CannabisFN), the leading creative agency and media network dedicated to legal cannabis, helps marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
CFN launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.
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