Lexaria Updates Burlington License Application
KELOWNA, BC—December 9, 2014 - Lexaria Corp. (OTCQB: LXRP)
(CSE: LXX) (the "Company" or "Lexaria") is pleased to announce progress on the
Burlington, Ontario MMPR license application. Health Canada has advised our joint venture partner Enertopia
Corp (ENRT) that the Burlington, Ontario application has advanced to the
Enhanced Screening Stage of the application process. The Burlington Joint Venture with Enertopia Corp originally
applied in July 2014 to produce 10,000kg of Medical Marihuana per year under its
Licensed Producer application. Enertopia has 51% interest in the joint venture
and Lexaria Corp 49% as earlier released.
Health Canada has noted the following steps in processing an
application. Note there are no specific process times for each step:
Step 1: | Preliminary Screening (Completed) |
Step 2: | Enhanced Screening (Underway) |
Step 3: | Security Clearance |
Step 4: | Review |
Step 5: | Ready to build letter (if required by applicant) |
Step 6: | Pre-licence inspection |
Step 7: | Licensing |
The current application is thorough and has been considerably
improved by improvements made during the Preliminary Screening process, which
has now been completed. The Burlington JV has requested a Ready To Build letter
from Health Canada once the application has completed step 4 of the approval
process. The Joint Venture (JV) has been active in the local community
and has received very good community and media support. The JV also met with the
local policing authority and upon licensing by Health Canada we have proposed
that the local police could conduct security and swat team training at the
facility. We are very pleased to be working closely with law enforcement and
look forward to their insights in preventative and proactive security measures.
Lexaria thanks its managers and its consultants for their
dedication and hard work in advancing the license application to date.
On November 24, 2014 Health Canada updated the number of
Licensed Producers to sell Marijuana to 14 and the number of Licensed Producers
to grow Marijuana at 8 for a current total of 22 Licensed Producers in Canada.
About Lexaria
Lexaria's shares are quoted in the USA with symbol LXRP and in
Canada with symbol LXX. The company searches for opportunities that could
provide potential above-market returns.
To learn more about Lexaria Corp. visit www.lexariaenergy.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Corp.
Chris Bunka
Chairman & CEO
(250) 765-6424
Lexaria Corp.
Chris Bunka
Chairman & CEO
(250) 765-6424
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Statements
which are not historical facts are forward-looking statements. The Company makes
forward-looking public statements concerning its expected future financial
position, results of operations, cash flows, financing plans, business strategy,
products and services, competitive positions, growth opportunities, plans and
objectives of management for future operations, including statements that
include words such as "anticipate," "if," "believe," "plan," "estimate,"
"expect," "intend," "may," "could," "should," "will," and other similar
expressions are forward-looking statements. Such forward-looking statements are
estimates reflecting the Company's best judgment based upon current information
and involve a number of risks and uncertainties, and there can be no assurance
that other factors will not affect the accuracy of such forward-looking
statements. Access to capital, or lack thereof, is a major risk and there is no
assurance that the Company will be able to raise required working capital.
Current oil and gas production rates may not be sustainable and targeted
production rates may not occur. Factors which could cause actual results to
differ materially from those estimated by the Company include, but are not
limited to, government regulation, managing and maintaining growth, the effect
of adverse publicity, litigation, competition and other factors which may be
identified from time to time in the Company's public announcements and filings.
There is no assurance that the medical marijuana or alternative health
businesses will provide any benefit to Lexaria. The Company makes no human
health claims related to cannabinoids derived from any source.
The CSE has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.
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