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BRIEF-Altria Group Invests Up To $12M In Lexaria Bioscience’S Dehydratech™ Technology

Published 2019-01-17, 08:44 a/m
Updated 2019-01-17, 08:50 a/m
© Reuters.  BRIEF-Altria Group Invests Up To $12M In Lexaria Bioscience’S Dehydratech™ Technology

Jan 17 (Reuters) - Lexaria Bioscience Corp LXX.CD :

* ALTRIA GROUP INVESTS UP TO $12M IN LEXARIA BIOSCIENCE'S DEHYDRATECH™ TECHNOLOGY

* LEXARIA NICOTINE - ALTRIA WILL PAY LEXARIA NICOTINE A ROYALTY ON REVENUE GENERATED FROM SALE OF NICOTINE PRODUCTS CONTAINING DEHYDRATECH

* LEXARIA NICOTINE - ALTRIA HOLDS OPTION TO ACQUIRE 100% OWNERSHIP IN LEXARIA NICOTINE, AT WHICH TIME ROYALTY PAYMENTS WOULD STOP

* LEXARIA NICOTINE - IN EXCHANGE FOR MINORITY EQUITY INTEREST ALTRIA VENTURES INC WILL FUND UP TO US$12 MILLION FOR LEXARIA NICOTINE

* LEXARIA NICOTINE - ALTRIA HAS RIGHT TO INITIALLY APPOINT ONE OF SEVEN DIRECTORS ON LEXARIA NICOTINE'S BOARD OF DIRECTORS

* LEXARIA NICOTINE SAYS ALTRIA THROUGH FURTHER PHASED INVESTMENTS, MAY HAVE RIGHT TO APPOINT UP TO THREE OF SEVEN DIRECTORS ON CO'S BOARD

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