LEXXW - Cannadips is Expanding Internationally Leveraging Lexarias DehydraTECH
(TheNewswire)
Kelowna, British Columbia – TheNewswire - July 7, 2022 –Lexaria Bioscience Corp. (Nasdaq:LEXX) (Nasdaq:LEXXW) (the“Company” or “Lexaria”), a global innovator in drug deliveryplatforms is pleased to announce that its DehydraTECH licensee BoldtRunners Corporation, owners of the Cannadips Brand , hasexpanded manufacturing agreements to include Europe , Japan, and SouthAfrica.
“We are extremely grateful for our longstandingrelationship with Lexaria and look forward to our continued expansioninto new channels, geographies and product formats,” said PeteDiatelevi, CEO of California-headquartered Boldt RunnersCorporation.
Cannadips CBD dip pouch, the leading CBD (cannabidiol)pouch brand in the United States (“USA”), is a tobacco-free,nicotine-free dip alternative providing an effective way to enjoy CBDand is sold in over 6,500 stores across the USA as well as throughdirect-to-consumer online sales. Lexaria’s DehydraTECH enhancementtechnology is inside every tin, the result of longstandingcollaboration and product design. The relationship between Lexaria andthe Cannadips brand continues to flourish as international productsales have already begun, opening new channels for growth in Lexariarevenues.
“We are delighted with the expansion of the Cannadipsbrand outside of the USA,” said Chris Bunka, CEO of LexariaBioscience Corp. “We continue to work with the Cannadips team on theinfusion of exciting new formulations to meet the needs of adultconsumers’ changing preferences and will endeavour to always remainone step ahead of the competition.”
About Cannadips
Our brand and story begin in Humboldt County, CA and weare exceedingly proud to be a part of this community. It means a lotto us. We manufacture each batch in the region that has made usfamous. We found the right pouch material to make our pouches neat,comfortable, and to allow the CBD to move through the mesh. Our pouchmaterial, the process we use with Lexaria, andour flavor systems make Cannadips CBD an experience that you can’tfind anywhere else. The result of our innovation journey is the nextevolution of traditional dip – Cannadips CBD.
About Lexaria Bioscience Corp.
Lexaria Bioscience Corp.’s patented drug deliverytechnology, DehydraTECH™, improves the way active pharmaceuticalingredients (APIs) enter the bloodstream by promoting more effectiveoral delivery. Since 2016, DehydraTECH has repeatedly demonstrated theability to increase bio-absorption with cannabinoids, antiviral drugs,PDE5 inhibitors and more. DehydraTECH has also evidenced an ability todeliver some drugs more effectively across the blood brain barrier.Lexaria operates a licensed in-house research laboratory and holds arobust intellectual property portfolio with 25 patents granted andover 50 patents pending worldwide. For more information, please visit www.lexariabioscience.com .
CAUTION REGARDING FORWARD-LOOKINGSTATEMENTS
This press release includes forward-looking statements.Statements as such term is defined under applicable securities laws.These statements may be identified by words such as"anticipate," "if," "believe,""plan," "estimate," "expect,""intend," "may," "could,""should," "will," and other similar expressions.Such forward-looking statements in this press release include, but arenot limited to, statements by the company relating the Company’sability to carry out research initiatives, receive regulatoryapprovals or grants or experience positive effects or results from anyresearch or study. Such forward-looking statements are estimatesreflecting the Company's best judgment based upon current informationand involve a number of risks and uncertainties, and there can be noassurance that the Company will actually achieve the plans,intentions, or expectations disclosed in these forward-lookingstatements. As such, you should not place undue reliance on theseforward-looking statements. Factors which could cause actual resultsto differ materially from those estimated by the Company include, butare not limited to, government regulation and regulatory approvals,managing and maintaining growth, the effect of adverse publicity,litigation, competition, scientific discovery, the patent applicationand approval process, potential adverse effects arising from thetesting or use of products utilizing the DehydraTECH technology, theCompany’s ability to maintain existing collaborations and realizethe benefits thereof, delays or cancellations of planned R&D thatcould occur related to pandemics or for other reasons, and otherfactors which may be identified from time to time in the Company'spublic announcements and periodic filings with the US Securities andExchange Commission on EDGAR. There is no assurance that any ofLexaria’s postulated uses, benefits, or advantages for the patentedand patent-pending technology will in fact be realized in any manneror in any part. No statement herein has been evaluated by the Food andDrug Administration (FDA). Lexaria-associated products are notintended to diagnose, treat, cure or prevent any disease. Anyforward-looking statements contained in this release speak only as ofthe date hereof, and the Company expressly disclaims any obligation toupdate any forward-looking statements contained herein, whether as aresult of any new information, future events, changed circumstances orotherwise, except as otherwise required by law.
INVESTOR CONTACT:
George Jurcic - Head of InvestorRelations
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