Lexaria Bioscience Corp. Signs Material Definitive Agreement
Ticker: LEXX · Form: 8-K · Filed: Mar 21, 2024
Sentiment: neutral
Topics: material-agreement, partnership
Related Tickers: LXRP
TL;DR
Lexaria signed a big deal, details TBD.
AI Summary
Lexaria Bioscience Corp. entered into a material definitive agreement on March 15, 2024. The filing does not disclose specific details of the agreement, such as the counterparty or financial terms, but it is categorized under 'Entry into a Material Definitive Agreement'.
Why It Matters
This filing indicates a significant new contract or partnership for Lexaria Bioscience Corp., which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the agreement.
Key Players & Entities
- Lexaria Bioscience Corp. (company) — Registrant
- March 15, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Lexaria Bioscience Corp.?
The filing states that Lexaria Bioscience Corp. entered into a material definitive agreement on March 15, 2024, but does not provide specific details about the agreement itself.
Who is the counterparty to this material definitive agreement?
The filing does not disclose the name of the other party involved in the material definitive agreement.
What are the key terms and financial implications of this agreement?
The filing does not specify the terms or financial implications of the material definitive agreement.
When was this material definitive agreement officially entered into?
The agreement was entered into on March 15, 2024, which is also the date of the earliest event reported.
What is the primary business of Lexaria Bioscience Corp.?
Lexaria Bioscience Corp. is in the Pharmaceutical Preparations industry, with SIC code 2834.
Filing Stats: 718 words · 3 min read · ~2 pages · Grade level 11.9 · Accepted 2024-03-21 16:37:08
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share Warrants to Purchase Common
- $16,875 — ended Aug. 31, 2023 and minimum fees of $16,875 per quarter commencing with the quarter
- $60,000 — 2 with the minimum fees increasing to US$60,000 per quarter commencing with the quarter
- $150,000 — ovember 30, 2023, increasing again to US$150,000 per quarter commencing with the quarter
- $332,500 — mber 30, 2024 and increasing again to US$332,500 per quarter commencing with the quarter
Filing Documents
- lxrp_8k.htm (8-K) — 30KB
- 0001640334-24-000446.txt ( ) — 167KB
- lxrp-20240315.xsd (EX-101.SCH) — 6KB
- lxrp-20240315_lab.xml (EX-101.LAB) — 16KB
- lxrp-20240315_cal.xml (EX-101.CAL) — 1KB
- lxrp-20240315_pre.xml (EX-101.PRE) — 12KB
- lxrp-20240315_def.xml (EX-101.DEF) — 4KB
- lxrp_8k_htm.xml (XML) — 5KB
0 Amendment of a Material Definitive Agreement
Item 1.0 Amendment of a Material Definitive Agreement On May 20, 2022, Lexaria Bioscience Corp. (" Lexaria "), through its wholly-owned subsidiary Lexaria Hemp Corp., (" Hempco ") entered into a Definitive Intellectual Property License Agreement with Premier Wellness Science Co., Ltd. (" Premier ") a Japanese based R & D and product development company in the field of health, beauty, anti-aging and sports (the " Hempco Agreement ") pursuant to which Premier licensed the perpetual, exclusive rights to utilize Lexaria's patented DehydraTECH technology (the " Technology ") with hemp ingredients containing no more than 0.01% THC to produce consumable non-liquid, consumable liquid and topical skin products (the " Products ") in Japan (the " Territory "). The Hempco Agreement provided for quarterly territory fees commencing with the quarter ended Aug. 31, 2023 and minimum fees of $16,875 per quarter commencing with the quarter ended November 30, 2022 with the minimum fees increasing to US$60,000 per quarter commencing with the quarter ended November 30, 2023, increasing again to US$150,000 per quarter commencing with the quarter ended November 30, 2024 and increasing again to US$332,500 per quarter commencing with the quarter ended November 30, 2025. On November 1, 2023, Premier was acquired and merged into its parent company Premier Anti-Aging Co., Ltd. (" Parentco ") and Parentco assumed the rights and obligations of the Hempco Agreement. Parentco and Hempco agreed to amend the Hempco Agreement from being an exclusive perpetual license to a non-exclusive license having a renegotiable term that ends on August 31, 2025. Pursuant to this amended agreement, Hempco and Parentco have agreed to reduce the associated Territory and minimum fees as follows: Quarter Combined Territory and Minimum Fee (US$) May 31, 2024 84,000 Aug. 31, 2024 84,000 Nov. 30, 2024 174,000 Feb. 28, 2025 174,000 May 31, 2025 174,000 Aug. 31, 2025 174,000 The amended agreement was sign
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LEXARIA BIOSCIENCE CORP. /s/ Chris Bunka Chris Bunka CEO, Principal Executive Officer Date: March 21, 2024 3