Lexaria Receives Orders for 4.4 Million Servings of DehydraTECH-Enabled CBD Powders
KELOWNA, BC / ACCESSWIRE / September 23, 2020 / Lexaria Bioscience Corp. (OTCQX:LXRP)(CNSX:LXX) (the "Company" or "Lexaria"
, a global innovator in drug delivery platforms, is pleased to announce that it is in receipt of purchase-order commitments for approximately 4.4 million CBD servings of its patented DehydraTECHTM enabled CBD powders, to be processed during the Company's fiscal Q1 2021 which ends November 30, 2020.
Lexaria has also received verbal requests from existing licensees to prepare the Company's facilities to produce at least 56 million servings during the calendar year 2021. These indicative orders do not include any potential demand from other future clients.
This compares to approximately 1.2 million CBD servings already processed in the Company's fiscal Q4 ended August 31, 2020, and approximately 0.7 million CBD servings during the Company's fiscal Q3 ended May 31, 2020 (all figures unaudited). A serving generally ranges from 10mg to 20mg of CBD each, utilizing the Company's DehydraTECH patented processes.
"After a significant investment of time and operations optimization, Lexaria's DehydraTECH CBD business is gaining traction in the US market," said Chris Bunka, Lexaria's Chief Executive Officer. "The benefits offered to DehydraTECH corporate clients, and the performance advantages enjoyed by end-users are inescapable."
Lexaria's business operations include both technology licensing wherein corporate licensees implement DehydraTECH under license within their own facilities under royalty agreements, and also corporate clients that purchase pre-processed DehydraTECH CBD-powders manufactured at a Lexaria-contracted GMP-certified food facility for shipment back to the client for integration into final product formats. Fees payable to Lexaria contain a mixture of both manufacturing charges as well as royalty and trademark fees.
The Company cautions that it cannot control the ability of third parties to fulfill their own business expectations and, as such, does not express any opinion as to the ability of its corporate customers to meet their own expectations. The Company has sufficient cash and human resources to support this increase in demand.
About Lexaria
Lexaria Bioscience Corp.'s (OTCQX:LXRP)(CNSX:LXX) proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH increases bio-absorption by up to 5-10x reduces time of onset from 1 - 2 hours to 10 - 20 minutes, and masks unwanted tastes for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine, and other molecules. Lexaria has licensed DehydraTECH to multiple companies, including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 17 patents granted and over 60 patents pending worldwide.
For more information, please visit www.lexariabioscience.com.
INVESTOR CONTACT:
ir@lexariabioscience.com
Phone: 866-221-3341
SOURCE: Lexaria Bioscience Corp.
https://www.accesswire.com/607264/Lexaria-Rec...BD-Powders
KELOWNA, BC / ACCESSWIRE / September 23, 2020 / Lexaria Bioscience Corp. (OTCQX:LXRP)(CNSX:LXX) (the "Company" or "Lexaria"
, a global innovator in drug delivery platforms, is pleased to announce that it is in receipt of purchase-order commitments for approximately 4.4 million CBD servings of its patented DehydraTECHTM enabled CBD powders, to be processed during the Company's fiscal Q1 2021 which ends November 30, 2020. Lexaria has also received verbal requests from existing licensees to prepare the Company's facilities to produce at least 56 million servings during the calendar year 2021. These indicative orders do not include any potential demand from other future clients.
This compares to approximately 1.2 million CBD servings already processed in the Company's fiscal Q4 ended August 31, 2020, and approximately 0.7 million CBD servings during the Company's fiscal Q3 ended May 31, 2020 (all figures unaudited). A serving generally ranges from 10mg to 20mg of CBD each, utilizing the Company's DehydraTECH patented processes.
"After a significant investment of time and operations optimization, Lexaria's DehydraTECH CBD business is gaining traction in the US market," said Chris Bunka, Lexaria's Chief Executive Officer. "The benefits offered to DehydraTECH corporate clients, and the performance advantages enjoyed by end-users are inescapable."
Lexaria's business operations include both technology licensing wherein corporate licensees implement DehydraTECH under license within their own facilities under royalty agreements, and also corporate clients that purchase pre-processed DehydraTECH CBD-powders manufactured at a Lexaria-contracted GMP-certified food facility for shipment back to the client for integration into final product formats. Fees payable to Lexaria contain a mixture of both manufacturing charges as well as royalty and trademark fees.
The Company cautions that it cannot control the ability of third parties to fulfill their own business expectations and, as such, does not express any opinion as to the ability of its corporate customers to meet their own expectations. The Company has sufficient cash and human resources to support this increase in demand.
About Lexaria
Lexaria Bioscience Corp.'s (OTCQX:LXRP)(CNSX:LXX) proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH increases bio-absorption by up to 5-10x reduces time of onset from 1 - 2 hours to 10 - 20 minutes, and masks unwanted tastes for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine, and other molecules. Lexaria has licensed DehydraTECH to multiple companies, including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 17 patents granted and over 60 patents pending worldwide.
For more information, please visit www.lexariabioscience.com.
INVESTOR CONTACT:
ir@lexariabioscience.com
Phone: 866-221-3341
SOURCE: Lexaria Bioscience Corp.
https://www.accesswire.com/607264/Lexaria-Rec...BD-Powders
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