$LXRP Announces Closing of Non-Brokered Private Placement

Kelowna, British Columbia – November 14, 2019 – Lexaria Bioscience Corp. (OTC:LXRP) (CNSX:LXX.CN) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, announces it has closed the first tranche of its previously announced private placement of units (the “Offering”) as at November 13, 2019.

Pursuant to the Company’s news release of October 30, 2019 the Company announces that it has closed this tranche of its Offering and has received gross proceeds of US$699,410.25 from the sale of an aggregate 1,554,245 units (“Units”) at a price of US$0.45 per Unit. Each Unit is comprised of one common share (“Share”) and one share purchase warrant (“Warrant”) whereby the holder of a Warrant will be entitled to exercise the Warrant to purchase an additional Share (“Warrant Share”) at a price of US$0.80 until November 13, 2020 and thereafter at a price of US$1.20 until November 13, 2021 (the “Expiry Date”). The Warrants will expire and will no longer be exercisable after the Expiry Date.

The Company also paid US$3,937.50 and issued 8,750 warrants (the “Broker Warrants”) to certain finders in connection with the investment by investors of an aggregate 125,000 Units. The Broker Warrants have the same exercise terms and Expiry Date as the Warrants.

The net proceeds received from the Offering will be used as to US$200,000 for continued research and development of the Issuer’s DehydraTECH technology; US$50,000 for sales and marketing of the Issuer’s products; US$50,000 for finance and legal fees; US$75,000 for pursuing patent applications; US$170,000 for general working capital and US$150,000 for administration costs.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About Lexaria

Lexaria Bioscience Corp. is a global innovator in drug delivery platforms. Its patented DehydraTECH(TM) drug delivery technology changes the way Active Pharmaceutical Ingredients enter the bloodstream, promoting healthier ingestion methods, lower overall dosing and higher effectiveness for lipophilic active molecules. DehydraTECH increases bio-absorption; reduces time of onset; and masks unwanted tastes for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules. Lexaria has licensed DehydraTECH to multiple companies in the cannabis industry for use in cannabinoid beverages, edibles and oral products; and to a world-leading tobacco producer for the development of smokeless, oral-based nicotine products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 16 patents granted and over 60 patents pending worldwide.

www.lexariabioscience.com