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Lexaria Recently Announced Favorable Data on Its First Animal Study, As Well as the Commencement of Its First Human Clinical Study, Under Its 2021 Hypertension R&D Program

KELOWNA, BC / May 7, 2021 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, today announced that CEO Chris Bunka is presenting at the Benzinga Global Small Cap Conference to be held on May 13-14, 2021. Complimentary investor registration can be accessed through the conference link below.

Presentation date: Thursday, May 13, 2021

Presentation time: 3:50 p.m. ET / 12:50 p.m. PT

Event registration link: Benzinga Global Small Cap Conference

YouTube link: https://www.youtube.com/watch?v=Fy4-KfJWgdE

Mr. Bunka will provide an overview of the Company, including its DehydraTECH™ drug delivery technology that improves the way active pharmaceutical ingredients enter the bloodstream. He will also discuss Lexaria's applied R&D programs that are evaluating the delivery effectiveness of DehydraTECH-processed cannabidiol (CBD) for hypertension, antiviral applications for SARS diseases and other infectious diseases, and multiple new markets, as well as provide updates on the progress of these studies.

The Benzinga Global Small Cap Conference, a showcase for small-cap investing, will be held in an entirely virtual setting. Designed to bridge the gap between small-cap companies, investors and traders, the Conference will enable executive leadership of companies to network and communicate with a broad and diverse global investor audience.

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.'s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 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, 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. 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 contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

INVESTOR CONTACT:

[email protected]

Phone: 866-221-3341

SOURCE: Lexaria Bioscience Corp.

• Up to 2,178% more CBD delivered into bloodstream*


• Up to 1,737% more CBD delivered into brain tissue*

KELOWNA, BC / May 6, 2021 / Lexaria Bioscience Corp. (NASDAQ:LEXX) (NASDAQ:LEXXW) (CSE:LXX) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, is pleased to announce successful outcomes in its first sets of data from its 2021 applied research and development (R&D) study programs.

Study HYPER-A21-1 included three new "DehydraTECH 2.0" formulation variations designed to enable cannabidiol ("CBD") delivery performance enhancements and pharmacokinetic optimization. All three new DehydraTECH 2.0 formulations delivered improved performance when compared to both Lexaria's original DehdyraTECH 1.0 and 2.0 concentration-matched formulations, as well as to a medium chain triglyceride ("MCT") oil based control formulation representative of standard industry practices Summary data is shown below:

1. AUC: Area Under the Curve, or total CBD delivery into the rodent bloodstream


2. 60-minute study duration


3. 60-minute study duration evaluated in 2019


4. 120-minute study duration evaluated in 2021

"Not only did the three latest DehydraTECH 2.0 formulations deliver between 1,068% and 2,178% more CBD during the study period than the standard MCT control formulation, they also were up to 123% more effective than the original DehydraTECH 2.0 formulation," said Chris Bunka, CEO of Lexaria. "Said another way, for every 1 mg of CBD delivered by the industry standard MCT control formulation, these latest DehydraTECH 2.0 formulations delivered 10 to 21 mg of CBD."

The study demonstrated that each of the new DehydraTECH 2.0 formulations delivered very high levels of CBD absorption into brain tissues, dwarfing the levels achieved with the MCT oil-based control formulation. The three new DehydraTECH 2.0 formulations delivered between 907%-1,737% more CBD into brain tissue than the MCT oil based control formulation, similar to the up to 1,937% increase over the MCT oil based control formulation announced previously for Lexaria's original DehydraTECH 2.0 formulation.

In each arm of the study, ten male Sprague-Dawley rats were dosed orally at a level of 25 mg/Kg CBD, and over the next 120 minutes multiple measurements were made of delivery into the bloodstream and tissues comparing the DehydraTECH formulations to certain controls.

These study findings add significantly to Lexaria's body of evidence demonstrating the ability of its DehydraTECH technology to be engineered to enhance the delivery of lipophilic active ingredients such as CBD across a range of uptake levels, whereby higher delivery level targets may be most applicable to pharmaceutical dosage forms and lower delivery level targets more suited to consumer packaged goods.

Additional DehydraTECH 2.0 formulations are being evaluated in Lexaria study HYPER-A21-2 presently underway, and results are expected in late May or early June, 2021. Thereafter, Lexaria is planning additional work that will evaluate impacts upon real-time blood pressure in animals using select formulations pursuant to these studies. Lexaria will provide more details on this upcoming blood pressure testing in animals as they become available. As well, advanced DehydraTECH 2.0 formulations are already being used by Lexaria in ongoing human studies and will be monetized for commercial use when applicable.

* Compared with control formula utilizing medium chain triglycerides (coconut oil) representative of standard industry practices

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.'s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 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. 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 contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

INVESTOR CONTACT:

[email protected]

Phone: 866-221-3341

SOURCE: Lexaria Bioscience Corp.

• Study to examine DehydraTECH^TM CBD's ability to control blood pressure


• First of three human clinical studies hoped to validate Lexaria's patented technology for hypertension relief

KELOWNA, BC / April 22, 2021 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, announces that its human clinical hypertension study HYPER-H21-1 is officially underway. Lexaria's patented DehydraTECH CBD formulation will be examined to assess its ability to control blood pressure and assess impact on inflammation.

"We are very pleased that dosing of human volunteers as part of Lexaria's hypertension study has begun," said Lexaria CEO Mr. Chris Bunka. "Dosing is expected to be completed, on schedule, within several weeks, and we may be in a position to report preliminary data in July or thereabouts. Despite challenges in launching a human clinical study during a global pandemic, Lexaria's Europe-based research partners have done an excellent job of balancing the need for scientific validation for a potential new hypertension treatment, with the required safety protocols currently in place."

HYPER-H21-1 is a randomized, double-blinded, controlled human clinical study expected to involve 24 human volunteers with symptoms of either pre-hypertension, or mild hypertension. A single 300mg dose of an advanced DehydraTECH^TM 2.0 CBD formulation will be evaluated relative to a concentration-matched control without Lexaria's DehydraTECH enhancements.

Time series blood pressure and heart rate analyses are the primary objectives of this study. Secondary objectives include speed and rate of absorption of the CBD and its main metabolites (pharmacokinetics or "PK" assessments), as well as evaluation of inflammatory markers associated with cardiovascular disease and gold-standard biomarkers of nitric oxide. This latter measure provides mechanistic insight into the anticipated reduction in blood pressure via vasodilation.

These inflammatory marker assessments may also be applicable to Lexaria's research initiatives in the antiviral therapeutics space whereby effective anti-inflammatory therapies are also useful in treating diseases like COVID-19 or other common pro-inflammatory conditions.

Since a large array of data points will be generated and analyzed, final reporting on this study is likely to be reported in early September.

There are five studies in Lexaria's 2021 hypertension program which are expected to generate data required to further support the validity of using DehydraTECH-processed CBD as a potential hypertension treatment across various applications. Lexaria has received 18 granted patents internationally, including issuances in the European Union and Australia specifically to use DehydraTECH-processed CBD to treat heart disease.

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.'s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 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. 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 contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

INVESTOR CONTACT:

[email protected]

Phone: 866-221-3341

SOURCE: Lexaria Bioscience Corp.

KELOWNA, BC / April 15, 2021 / Lexaria Bioscience Corp. (Nasdaq:LEXX)(Nasdaq:LEXXW)(CSE:LXX) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, announces the appointment of a new Chief Financial Officer and the issuance of share purchase warrants to third party consultants.

Lexaria is pleased to announce that effective April 15, 2021, Gregory Downey will be assuming the role of Chief Financial Officer of the Company. During the past two years, Mr. Downey has been engaged by the Company as its Controller and has intimate knowledge regarding the Company's business and finances. Mr. Downey brings a wealth of experience to Lexaria, having served as the Chief Financial Officer of several public companies during the past ten years. Mr. Downey holds a Certified Management Accountant designation and is a member of the Chartered Professional Accountants of British Columbia.

In the position as Chief Financial Officer, Mr. Downey will be compensated with a base annual salary of CDN$144,000, with an annual increase of 10%, an option grant for the issuance of up to 12,000 common shares, and other customary incentives.

The Company is grateful to outgoing CFO, Mr. Allan Spissinger, for his many contributions and wishes him continued success in his future endeavours.

The Company also announces that effective on April 16, 2021, it will be issuing share purchase warrants (the "Warrants") for the issuance of up to an aggregate 300,000 common shares to three unrelated third party consultants. The Warrants will be exercisable for a period of three years ending on April 16, 2024 at an exercise price of US$9.00 per share. The shares issuable upon exercise of the Warrants will be restricted securities pursuant to US securities laws.

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.'s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 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. 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 contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

INVESTOR CONTACT:

[email protected]

Phone: 866-221-3341

SOURCE: Lexaria Bioscience Corp.

• DehydraTECH^TM Powers Amari's Award-Winning Products

KELOWNA, BC / April 14, 2021 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, announced that its corporate client Amari Corp.'s "Everyday Calm" CBD product was named a Top CBD Product Pick by New Hope Network, host of the industry-leading Natural Products Expo conference events. Hundreds of CBD products competed to be among "New Hope Network editors' Top Picks for 2020".

Eric Gricus, CEO and Founder of Amari, commented, "Amari went through an extensive selection process for our CBD technology supplier. Lexaria exceeded our expectations for product quality, service, and pricing. We are thrilled to have the Lexaria team working with Amari to help us develop products our customers love and to win industry accolades."

Lexaria's DehydraTECH^TM technology delivers CBD more quickly and effectively, as evidenced in repeated studies, to enhance consumer satisfaction and strengthen brand loyalty.

"Lexaria is delighted to have been able to work with Amari and their award-winning products," said Chris Bunka, CEO of Lexaria. "DehydraTECH is gaining more widespread consumer support, and we expect to see products utilizing DehydraTECH technology in more and more stores across America as the year unfolds."

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.'s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies, including a world-leading tobacco producer, for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 patents pending worldwide. For more information, please visit www.lexariabioscience.com.

About Amari

Founded in 2019, Amari was launched by outdoor enthusiast Eric Gricus for people like him. People who love to be active, but who may have noticed as they get older that the spirit is willing, but the body often has aches and pains and soreness after a day of hiking, skiing, or rafting. To create the product, Eric leveraged his more than 10 years' experience working with early-stage CPG companies and commercializing research from a university setting. Amari formulas blend science and technology to provide authentic, plant-based remedies that deliver tangible benefits to support a lifestyle of wellness and vitality while being rooted in transparency and extensive quality controls.

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. 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 contained herein, whether as a result of any new information, future events, changed circumstances, or otherwise, except as otherwise required by law.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

INVESTOR CONTACT:

[email protected]

Phone: 866-221-3341

SOURCE: Lexaria Bioscience Corp.

• Undertaking new 2021 R&D programs in additional drug markets with combined market potential of $87 Billion.

KELOWNA, BC / ACCESSWIRE / April 6, 2021 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, will begin important new applied research and development (R&D) study programs planned in 2021.

Lexaria's new study programs will target four drug markets, including NSAIDs, nicotine replacement therapies, tetrahydrocannabinol, and erectile dysfunction. Each of the studies will evaluate the rate of absorption and speed (pharmacokinetics or "PK" assessments) with which various new enhanced DehydraTECH^TM experimental formulations - "DehydraTECH 2.0" - deliver the drugs being studied into the bloodstream and, in some cases, the brain, after oral dosing. Evidencing improvements in delivery efficiencies or reductions in time required to deliver drugs into bloodstream and brain is intended to support further study and commercial exploitation through prospective pharmaceutical industry strategic partnering.

"Our 2021 study program - already the largest in our company's history - is growing," commented Chris Bunka, CEO of Lexaria. "All of our studies are designed to generate must-have data allowing us to have more meaningful business discussions with various industry leaders and, as such, can shorten the time required for positive commercial developments."

Ibuprofen (such as Advil) and Naproxen (such as Aleve): NSAID-A21-1.

Test articles are planned to be manufactured in April, and animal dosing is expected in July. The global NSAID market was US$15.6 Billion in 2019,and is expected to grow to $24.4 Billion in 2027. Although NSAIDs are in widespread use, they can cause serious side effects such as gastrointestinal toxicity, irreversible kidney damage, and 16,500 deaths per year. Lexaria will investigate whether DehydraTECH-processed NSAIDs might achieve higher bioavailability and brain uptake than conventional formulations and, in turn, be able to be used at lower dosage levels in order to lower unwanted side effects. Lexaria has selected ibuprofen and naproxen for this exercise as two of the most common NSAIDs in use today, predominantly for management of chronic inflammation and pain, respectively. DehydraTECH for oral NSAID delivery is covered by existing granted Lexaria patents in the USA and internationally as well as additional patent applications pending globally.

THC: THC-A21-1.

Test articles are planned to be manufactured in July, and animal dosing is expected in August/September. Lexaria has a successful track record through strategic partners and licensees who use DehydraTECH technology and have demonstrated improved delivery and performance of tetrahydrocannabinol ("THC") in both subjective human studies and marketed consumer packaged goods product offerings. Furthermore, Lexaria has repeatedly demonstrated that DehydraTECH-processed cannabidiol (CBD) (another common cannabinoid) has superior delivery characteristics into the bloodstream and brain compared to generic CBD and expects to generate similar results with THC. Successful results from this study will support efforts to commercialize DehydraTECH within the registered THC industry. The global licensed dispensary market for cannabis is projected to be $40.6 Billion in 2024. DehydraTECH for oral THC delivery is covered by existing granted Lexaria patents in the USA and internationally as well as additional patent applications pending globally. Lexaria divested certain of its THC-related business assets as it prepared for its uplisting to the Nasdaq marketplace, however, it retained all rights to use its DehydraTECH technology with THC related to pharmaceutical purposes or registered drugs within its wholly-owned subsidiary Lexaria Pharmaceutical Corp.

Oral Nicotine: NIC-C21-1

Test articles have been manufactured, and dosing is expected in September/October. The global market for smokeless tobacco and nicotine replacement therapy (NRT) pharmaceutical products was $15.5 Billion in 2018. Lexaria has repeatedly demonstrated that DehydraTECH-processed nicotine has superior delivery characteristics compared to generic nicotine when dosed orally and swallowed for intestinal delivery to the bloodstream. Lexaria's limited subjective human testing utilizing DehydraTECH-processed nicotine formulations have demonstrated nicotine absorption and onset of nicotine effectiveness in as little as 1.5-4 minutes after an oral dose compared to average 8-10 minutes with comparable pouches. The upcoming PK test will measure the delivery of nicotine directly into oral mucosal tissues to evaluate potential superior delivery characteristics without the need to swallow. Both cigarette and e-cigarette sales are trending lower due to well-publicized issues regarding health; whereas oral nicotine products were the first ever to receive an FDA reduced risk notice. Modern oral nicotine products contain no tobacco, unlike older consumer products which contain moist tobacco. DehydraTECH for oral nicotine is covered by existing granted Lexaria patents in the USA and internationally as well as additional patent applications pending globally.

Sildenafil (such as Viagra): PDE5-A21-1

Test article manufacturing is planned for October, and animal dosing is expected in November/December. The erectile dysfunction market was worth $4.8 Billion in 2018 and expected to reach $7.1 billion in 2024. Phosphodiesterase-5 inhibitor (PDE5) drugs work using a process of vasodilation, and most are considered to be slow-acting, requiring 1-2 hours to reach peak levels in the bloodstream for maximum effectiveness. Lexaria has repeatedly evidenced a greatly reduced delivery time of another drug that encourages vasodilation - DehydraTECH CBD - and theorizes whether DehydraTECH might likewise deliver PDE5 drugs more quickly and effectively. Some of the most popular existing erectile dysfunction drugs have seen their primary patents expire. DehydraTECH for PDE5 drugs is patent pending.

All scheduling is subject to change, postponement, or even cancellation, but as of the date of this press release are reasonable expectations. All studies referenced within this press release are fully funded from existing Company resources and are being performed by third-party laboratories to ensure study objectivity.

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.'s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies, including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 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. 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 contained herein, whether as a result of any new information, future events, changed circumstances, or otherwise, except as otherwise required by law.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

INVESTOR CONTACT:

[email protected]

Phone: 866-221-3341

SOURCE: Lexaria Bioscience Corp.

• DehydraTECH^TM CBD-Beverage Demonstrates 93.4% Potency One Year After Production


• Lexaria's Nanoemulsification Processing Technique Ensures Content Uniformity and Homogeneity of CBD Distribution Without Need for Physical Mixing

KELOWNA, BC / March 24, 2021 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, announced positive results from its extended stability testing, which has reported unparalleled stability for bottled CBD-containing beverages prepared using its technology.

Lexaria's patented DehydraTECH^TM CBD (cannabidiol) nanoemulsification formulation and processing techniques are responsible for the tested beverages maintaining their CBD content which was verified at 93.4% of target potency one year after production and also evidenced excellent microbial purity over this period.

The DehydraTECH-processed ready-to-drink ("RTD") beverages were also tested for content uniformity and homogeneity of CBD distribution, and demonstrated less than 1% variability in CBD potency in fractions sampled from the top, middle and bottom of the beverage formulation without physical mixing or agitation.

"I love reminding people that Lexaria's first patent was awarded in 2016 for CBD-infused beverages and consumable liquids," said Chris Bunka, CEO of Lexaria. "Our technology was working in cannabinoid beverages years before the big cannabis companies started spending hundreds of millions of dollars trying to figure it out."

In February 2020, Lexaria prepared proprietary, patented DehydraTECH-powered CBD-based nanoemulsions for Nic's Beverages, owners of the Nic's Cold Brew brand, and has been subjecting samples from the commercial bottling run to real-world, long-term stability testing that resulted in average potency of 93.4% after one year; complete uniformity; and no microbial growth. Testing will continue until such time as Lexaria's formulation no longer remains stable, although the Company cannot know when that might be.

"I am incredibly happy with the world-class results we have experienced using DehydraTECH in our CBD beverages, said John Goodpasture, CEO of Nic's Beverages. "The coffee flavour and aroma experience are exceptional from the moment you open the bottle and remain so one year later."

Beverages containing cannabinoids often need to be shaken prior to use and tend to degrade over time, sometimes dramatically so. There have been reports of beverages sold that contain only a tiny fraction of the cannabinoids listed on the product label, whether due to inadequate manufacturing techniques or time decay. Lexaria's data demonstrate exceptional effectiveness in integrating CBD into RTD beverages in a stable and homogenously distributed manner over time without the need for physical mixing or agitation before consumption.

Lexaria's DehydraTECH technology has been clinically verified to deliver a significantly higher fraction of CBD to consumers' blood circulation in a shorter period of time. Other testing has also evidenced significantly higher brain perfusion of DehydraTECH CBD, which is important for human conditions that are partially or entirely centrally mediated (regulated by the brain or central nervous system).

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.'s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 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. 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 contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

INVESTOR CONTACT:

[email protected]

Phone: 866-221-3341

SOURCE: Lexaria Bioscience Corp.

• Lexaria recently announced progress on its hypertension R&D program, consisting of three human clinical and two animal studies, as well as two studies in its antiviral drug evaluation program

KELOWNA, BC / March 23, 2021 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, today announced that CEO Chris Bunka is presenting at the Benzinga Biotech Small Cap Conference to be held on March 24-25, 2021. Complimentary investor registration can be accessed through the conference link below.

Event registration link: Benzinga Biotech Small Cap Conference

Presentation date: March 24, 2021

Presentation time: 9:45 AM ET

Mr. Bunka will provide an overview of the Company, including its DehydraTECH™ drug delivery technology that improves the way active pharmaceutical ingredients enter the bloodstream. He will also discuss R&D programs that have been commenced to evaluate delivery effectiveness of DehydraTECH-processed cannabidiol (CBD) for hypertension, antiviral applications for SARS diseases and other infectious diseases, as well as other strategic initiatives.

Designed to bridge the gap between small-cap publicly traded companies, investors and traders, the Benzinga Biotech Small Cap Conference enables executive leadership of small-cap biotech companies to network and communicate with a broad and diverse investor base in a virtual setting.

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.'s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 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, 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. 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 contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

INVESTOR CONTACT:

[email protected]

Phone: 866-221-3341

SOURCE: Lexaria Bioscience Corp.

• Two of the four planned studies progressing to examine DehydraTECH™ with antivirals targeting SARS-CoV-2 / COVID-19.

KELOWNA, BC / March 16, 2021 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, announces extensive progress in two of the four planned antiviral drug studies in its 2021 applied research and development (R&D) program.

"It's been a very productive start into 2021 with a total of seven studies across our various research programs currently underway," commented Chris Bunka, CEO of Lexaria. "Lexaria's applied R&D programs are vital to generate the supportive data required to pursue either regulatory approvals or corporate relationships necessary for commercial launch. We expect great success this year and are eager to report study results as they become available."

DehydraTECH with Antivirals for COVID-19.

Two of the four planned studies using DehydraTECH^TM with antivirals as previously described in Lexaria's announcements on December 22, 2020 and February 1, 2021 are progressing, comprised of one SARS-CoV-2 infected human cell culture study (VIRAL-C21-3) and one animal research pharmacokinetic study (VIRAL-A20-2). The drugs being studied in Lexaria's 2021 antiviral program not only target SARS-CoV-2 / COVID 19 applications, but also have existing utility across additional infectious disease, allergic and other disease indications. Details on the other two planned antiviral studies will be provided when available.

VIRAL-A20-2: Dosing of the animals has begun and is scheduled to be completed by late March. This study is evaluating the rate of absorption and speed (pharmacokinetics or "PK" assessments) with which various new enhanced DehydraTECH^TM experimental formulations - "DehydraTECH 2.0" - deliver the drugs being studied to the bloodstream. There are a total of 40 animals in this study which will evaluate the PK performance of DehydraTECH-processed Remdesivir and another antiviral drug known to target the main protease associated with SARS-CoV-2 infection for 48 hours following dosing. Enhanced DehydraTECH 2.0 formulations will be utilized in this study, which represent next-generation drug delivery enhancements not yet commercially available anywhere in the world. The primary objective is to determine whether these drugs, after being processed with DehydraTECH, reach the bloodstream faster and more effectively. With the first two antiviral drugs Lexaria reported on in December 2020, Efavirenz and Darunavir, most commonly used for HIV/AIDS therapeutic purposes, DehydraTECH was able to significantly increase the quantity of drug reaching the bloodstream. Results should be reported in or around the second half of May.

VIRAL-C21-3: All contract agreements are now in place with the third party laboratory that will be conducting this study, and dosing is now expected to commence in April. In this study, to be carried out under controlled conditions at a leading U.S. biosafety level 3 (BSL-3) rated infectious disease laboratory, human cell cultures will be exposed to the infectious SARS-CoV-2 virus and then treated with both DehydraTECH processed drugs and non-DehydraTECH processed drugs. Evaluations will determine whether the DehydraTECH processed drugs are effective at killing the virus. Remdesivir and another antiviral drug known to target the main protease associated with SARS-CoV-2 infection are the two drugs that will be evaluated in this study and results should be reported in or around the first half of June.

All studies referenced within this press release are fully funded from existing Company resources and are being performed by third-party laboratories to ensure study objectivity.

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.'s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 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. 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 contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

INVESTOR CONTACT:

[email protected]

Phone: 866-221-3341

SOURCE: Lexaria Bioscience Corp.

• Five studies underway to examine DehydraTECH^TM CBD for Hypertension.

KELOWNA, BC / March 15, 2021 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, announces extensive progress in five studies focused on the performance of DehydraTECH^TM CBD as a treatment for hypertension. Three human clinical trials and two animal research trials are part of the Company's 2021 applied research and development (R&D) program. The Company has additional studies under design, to be announced when available. Lexaria's DehydraTECH CBD for hypertension studies are being performed by third-party laboratories to ensure study objectivity.

DehydraTECH CBD For Hypertension.

All five of the planned 2021 hypertension studies are underway:

HYPER-A21-1: Dosing is complete and sample analysis is underway in this animal study. No observed behavioural tolerability issues were noted during or after dosing. This study is evaluating the rate of absorption and speed with which various new enhanced DehydraTECH experimental formulations - "DehydraTECH 2.0" - deliver CBD to the bloodstream and brain. Enhanced DehydraTECH 2.0 formulations represent next-generation drug delivery enhancements not yet commercially available anywhere in the world. Results should be reported in or around the first half of May.

HYPER-A21-2: Dosing is scheduled to begin next week and is expected to be completed in this animal study by March 30. This study is also evaluating the rate of absorption and speed with which additional enhanced DehydraTECH 2.0 formulations deliver CBD to the bloodstream and brain. Results should be reported in or around the first half of June.

Studies HYPER-A21-1 and HYPER-A21-2 may contribute to superior performance in future generations of commercial products, and also to formulation enhancement in human studies contemplated for late 2021 and 2022. Additional work pursuant to these studies is also expected that will evaluate impacts upon real-time blood pressure in animals at the doses studied.

HYPER-H21-1: Regulatory importation clearance was received for the clinical test articles for this human study which have arrived at the European research site. Following this, recruitment of the 24 volunteers with otherwise untreated pre- or mild-hypertension has begun. Human dosing - using a single 300mg dose of CBD with or without DehydraTECH formulation enhancement - is tentatively expected to be complete by May. A particular DehydraTECH 2.0 formulation will be evaluated in this study. Time series blood pressure and heart rate analyses are the primary objectives of this study. Secondary objectives include speed and rate of absorption of the CBD and its main metabolites (pharmacokinetics or "PK" assessments), as well as evaluation of inflammatory markers associated with cardiovascular disease and gold-standard biomarkers of nitric oxide. This latter measure provides mechanistic insight into the anticipated reduction in blood pressure via vasodilation. Inflammatory marker assessments may also be applicable to Lexaria's research initiatives in the antiviral therapeutics space whereby effective anti-inflammatory therapies are also useful in treating diseases like COVID-19 or other common pro-inflammatory conditions. Since a large array of data points will be generated and analyzed, final reporting on this study is likely to be reported in early September or thereabouts, though preliminary outcomes may be reported before then.

HYPER-H21-2: Formal hospital and ethics board applications for this upcoming European human clinical study have been approved and test articles are expected to arrive at the research site as early as next week. Following this, recruitment of 16 volunteers will commence soon in this study. A particular DehydraTECH 2.0 formulation will again be utilized in this study. As in HYPER-H21-1, volunteers will be pre- or mildly-hypertensive males and females aged 45-70 years. In this study, however, volunteers will consume three separate doses of 150mg of DehydraTECH CBD or placebo that will be split over a 24-hr period, and be monitored continuously via ambulatory (portable) monitoring technology throughout this time. The primary objectives of this study are blood pressure and heart rate evaluation, while the secondary objectives include central arterial stiffness, physical activity and sleep quality (e.g., total sleep time, total wake time, and sleep efficiency). Once again, a large array of data points will be generated and analyzed and final reporting on this study is likely to be reported in late September or thereabouts, though preliminary outcomes may be reported before then.

HYPER-H21-3: Formal hospital and ethics board approvals for this upcoming European human clinical study have also been received and test articles are also expected to arrive at the research site as early as next week. Following this, 16 volunteers will be recruited once recruitment in studies HYPER-H21-1 and HYPER-H21-2 is complete. In a placebo-controlled and blinded design, a single 300mg dose of a particular DehydraTECH 2.0 CBD formulation will be administered in this "Stress Test" study to examine its effect on acute pulmonary hypertension. Exposure to acute reductions in oxygen tension (i.e., hypoxia) causes rapid hypoxic pulmonary vasoconstriction (HPV) and, as a consequence of this HPV response, pulmonary arterial pressure increases. If this increase in pressure becomes too high, as is the case in many cardiac pathologies, an excess of fluid in the lungs can occur that causes difficulty with breathing. The extent to which CBD may act as a novel treatment for HPV, and potentially as an alternative treatment for pulmonary hypertension, is unknown. Thus, the primary objective of this study is to evaluate the effect of DehydraTECH CBD on pulmonary vascular function in normotensive individuals exposed to hypoxia. The magnitude of HPV, blood pressure, heart rate, blood samples (as per HYPER-H21-1 , see above), and pulmonary gas exchange data will be collected and analyzed. Details will be furnished at a future date on the likely timing of reporting from this study once recruitment has begun.

The five studies in Lexaria's 2021 DehydraTECH CBD hypertension program are expected to generate data required to further support the validity of using DehydraTECH CBD as a potential anti-hypertension treatment across various prospective applications to the US$28 billion annual hypertension drug market. In addition, direct healthcare costs for patients with pulmonary arterial hypertension has been estimated at between US$29,712 and $142,500 per year. Lexaria holds 18 granted patents internationally, including issuances in the European Union and Australia specifically to use DehydraTECH-processed CBD to treat heart disease.

Summary

Lexaria relies on applied R&D programs to generate confirmatory results and data evidencing improved drug delivery characteristics that enable pursuit of commercial opportunities and/or corporate relationships. As such, Lexaria considers advancing these applied R&D studies to be a vital early step toward its goal of establishing commercial relationships with potential industry partners to utilize DehydraTECH within their existing product lines or in the development of new product lines.

All studies referenced within this press release are fully funded from existing Company resources.

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.'s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 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. 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 contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

INVESTOR CONTACT:

[email protected]

Phone: 866-221-3341

SOURCE: Lexaria Bioscience Corp.