Lexaria Announces 2023 Annual Meeting Results

May 10, 2023 at 10:15 AM EDT

KELOWNA, BC / ACCESSWIRE / May 10, 2023 / Lexaria Bioscience Corp. (NASDAQ: LEXX)(NASDAQ: LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms announces the results of the 2023 Annual Meeting (the "Meeting").

On May 9, 2023 at 1:00 p.m. (Pacific Time), the Company held the Meeting whereby there were 3,372,024 shares of the Company represented in person or by proxy at the meeting, constituting 56.3% of the Company's issued share capital as at March 13, 2023, being the record date of the Meeting. The matters voted upon at the Meeting and the final voting results are set forth below:

Matter Being Voted On	For	Against/Withheld	Abstain	Broker Non-Vote	Percent Approved By¹
To Elect Chris Bunka as a director	2,141,964	77,489		1,152,571	96.5%
To Elect John Docherty as a director	2,137,546	81,907		1,152,571	96.3%
To Elect Nicholas Baxter as a director	1,648,288	571,165		1,152,571	74.3%
To Elect Ted McKechnie as a director	2,123,869	95,584		1,152,571	95.7%
To Elect Albert Reese Jr. as a director	2,134,837	84,683		1,152,504	96.2%
To Elect Dr. Catherine Turkel as a director	2,165,426	54,027		1,152,571	97.6%
To Appoint Malone Bailey LLP as Auditors	3,249,199	105,067	17,758		96.4%
To Approve the Stock Option Repricing	1,529,271	677,686	12,429	1,152,638	68.9%
To Approve the Amendment to the Maxim Number of Shares Issuable pursuant to the Incentive Equity Plan	1,965,779	249,519	4,155	1,152,571	88.6%
To Approve the Addition of an Evergreen Formula to the Incentive Equity Plan	1,400,723	709,940	108,790	1,152,571	63.1%
To Ratify the lawful actions of the directors for the past year	2,005,926	156,382	57,145	1,152,571	90.4%

¹ Percentage is calculated based on abstained votes being counted as a vote against the resolution

All of the proposals are described in detail in the Company's proxy statement filed with the Securities Exchange Commission via Edgar and with the BC Securities Commission and Ontario Securities Commission via SEDAR on March 22, 2023.

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.'s patented drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream through oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 30 patents granted and many patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

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 are not limited to, statements by the company relating the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. 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 the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:

George Jurcic - Head of Investor Relations
ir@lexariabioscience.com
Phone: 250-765-6424, ext 202

SOURCE: Lexaria Bioscience Corp.

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