Item 7.01 Regulation FD Disclosure
Lexaria Bioscience Corp. has engaged the former President of GW Pharmaceuticals
USA, Julian Gangolli, as a Strategic Advisor. Mr. Gangolli oversaw approval by
the US Food and Drug Administration ("FDA") of the first and only pure
cannabidiol drug ever approved by the FDA, Epidiolex®, and its subsequent
successful commercialization in the USA leading to the acquisition of GW
Pharmaceuticals by Jazz Pharmaceuticals in 2021 in a $7.2 billion transaction.
Prior to that, Mr. Gangolli was a senior member of the Allergan management team
from 1998 onwards that transformed Allergan into one of the leading specialty
pharmaceutical companies in the US and was also a member of their Executive
Management team that oversaw the sale of Allergan to Actavis in 2015.
Stock options valid to purchase 5,000 shares of the Company are being issued to
Mr. Gangolli with an exercise price of $2.73 per share, valid for 5 years from
the date of issuance.
In accordance with General Instruction B.2 of Form 8-K, the information in this
Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed"
for the purposes of Section 18 of the Securities Exchange Act of 1934, as
amended, or otherwise subject to the liabilities of that section. The
information in this Current Report on Form 8-K shall not be incorporated by
reference into any filing or other document pursuant to the Securities Act of
1933, as amended, except as shall be expressly set forth by specific reference
in such filing or document.
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