Lexaria Bioscience prices 2M shares at $1.00 in registered direct offering

Lexaria Bioscience (LEXX) entered into a definitive agreement with a single institutional investor for the purchase and sale of 2,000,000 shares of common stock at a purchase price of $1.00 per share in a registered direct offering. The closing of the offering is expected to occur on or about April 28, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from the offering are expected to be $2M before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes.