The continued prevalence of mergers and acquisitions (M&A) and companies operating in the US raising capital in Canada dominated the conversation for the cannabis public space in 2018.
Over this past year, cannabis players also began to gain traction on bigger platforms and started finding emerging opportunities to add value for shareholders.
From conversations on the true value of cannabis plays, a barrage of new listings in the US and the crucial legalization effect in Canada, here the Investing News Network (INN) brings investors a closer look at the significant trends in cannabis for 2018.
Cannabis overview 2018: Volatility dominates the public space
After the progress and growth seen in 2017, 2018 started by reminding investors just how quickly things can change in the cannabis space.
A massive downturn in the stock market, led by what was largely attributed to a market correction on valuations and share prices, caused pot stocks to hit new lows across the board.
“Even knowing that marijuana is an emerging sector, I was surprised by the extent of the volatility,” Steve Hawkins, director and CEO of Horizons ETFs, the company behind the Horizons Marijuana Life Science Index ETF (TSX:SEED), told INN.
Volatility continued early in 2018 after then-Attorney General Jeff Sessions removed the Cole Memo, a piece of government guidance acting as a pillar of protection for the US marijuana industry.
Market watchers were concerned that the change would open the doors for a potential crackdown on the thriving industry. However, the change in policy ended up being a dud, and did not slow down growth in the US marijuana market.
Sessions stepped down from his role in November, with pot stocks rallying based on his departure.
Tilray, the first Canadian cannabis company to list directly on the NASDAQ without uplisting from Toronto, saw a run up in its share price in September that catapulted the stock to just above US$300.
Due to a limited float of shares, Tilray quickly became a trading asset as opposed to a steady security to purchase. Tilray’s stock chart called into question just how valuable cannabis companies really are.
Thanks in part to its NASDAQ listing and attention in the US marketplace, the company managed to reach a market capitalization of over US$13.5 billion at the height of the rush.
Debate ensued on whether Tilray’s path was beneficial or detrimental to the cannabis public space.
“Tilray’s stock is completely out of control … it’s going to hurt investor confidence in public markets and private markets,” said Nic Easley, CEO of 3C Consulting and a managing partner with Multiverse Capital.
On the other hand, 420 Investor analyst Alan Brochstein wrote that he saw Tilray’s “parabolic spike” as a “big positive.”
Meanwhile, short sellers have become leading players in the volatility seen in 2018 as a whole.
With the goal of betting on the downturn of a stock for profits, short sellers have been pointing out problems or causes for concern for public companies in the sector.
Cannabis stocks have fallen prey to some significant short sellers throughout 2018. Cronos Group (NASDAQ:CRON,TSX:CRON), Aurora Cannabis (NYSE:ACB,TSX:ACB) and Tilray have all been targets of Citron Research.
“Although the hype is big and the prohibition after 100 years is real, it is critical to understand that in the Canadian landscape, there are over 100 licensed producers and there will ultimately be more losers than winners,” an August report from Citron Research shorting Cronos Group to US$3.50 states.
The report caused a 28.41-percent drop in Cronos’ stock price in one day of trading. Cronos’ NASDAQ share price has not reached US$3.50 since the report was made public.
Charles Taerk, president and CEO of Faircourt Asset Management and advisor to the Ninepoint UIT Alternative Health Fund, said short reports will always be out in new sectors where there is a lot of growth and a perceived level of volatility.
Sutton said he had predicted some names in the space would rise so much in profile that they would become the target of prominent short sellers.
A new case of short selling has rocked the cannabis market more recently, as research from Quintessential Capital Management and Hindenburg Research has targeted the Latin American acquisitions of Aphria (NYSE:APHA,TSX:APHA).
The short report led analysts to slash their price targets on the stock and even question if the company has lost the trust of the market.
Cannabis overview 2018: Legalization and legal market challenges
On October 17, Canada formally enacted the Cannabis Act, a federal bill that brought the legalization of recreational marijuana sales.
While it was celebrated for its significance and importance for the global cannabis space, legalization brought along a decline for the stock market; companies faced challenges in addition to selloff tactics from a portion of the investor audience.
Hawkins said that seeing “that much momentum was a shock” for him during the run up of the stocks and the eventual downturn following legalization.
While praising legalization as the birth of a new industry, Peter Aceto, CEO of CannTrust Holdings (TSX:TRST), admitted there have been challenges for even the biggest LPs.
“There have been a few initial challenges, including a supply chain that is stretched by overwhelming demand,” Aceto said.
Dealing with new government regulations has been a theme of the cannabis market as more countries continue to explore the adoption of cannabis laws.
“Understanding the rules and regulations … you know, things are evolving very, very quickly and you can’t afford to make mistakes on the regulatory side,” Naprawa said.
Due to the company’s operations in Colombia and the newly unveiled Mexican market, Naprawa is aware of how tricky new market rules can be.
Another difficult element for the Canadian cannabis market has been the marketing allowed for companies selling branded products.
Health Canada put in place strict restrictions on the way companies, retailers and promoters of the industry can offer consumers a direct look at products in place.
“We spent a lot of money on branding, we sponsored concerts, events. We can’t do that right now,” Aurora Cannabis CEO Terry Booth said during a panel at the MJBizCon event in November in Las Vegas.
“The Cannabis Act outlines strict requirements related to the marketing of cannabis to fulfil a primary goal of keeping cannabis ‘uncool’ and out of the hands of youth (not legal-age adults as defined by each province),” Kveton said.
The executive is supportive of the cause, and added that Invictus “feels an obligation” to educate consumers.
Cannabis overview 2018: M&A and entry of the big players
As the promise of the size and value of the overall cannabis market continues to grow, companies from established marketplaces have started to look at the possibility of gaining a way in.
Rumors of big corporations seeking deals, outright acquisitions and partnerships flooded the public space in 2018 thanks in large part to these companies setting up relationships with cannabis ventures.
The relationship was heightened this past August, when Constellation added a C$5-billion injection into the Canadian producer. Hawkins called the deal a “validation” for the sector.
“This is an early investment, however one that puts Canopy in the global lead when it comes to brand development and alcohol replacement product,” said Taerk and Doug Waterson, CFO and portfolio manager with Faircourt Asset Management and manager of the Ninepoint UIT Alternative Health Fund.
The Faircourt duo deem the C$5-billion investment the biggest announcement for the cannabis market in 2018 since it confirmed that cannabis is on the radar for large, established businesses.
Dena Jalbert, founder and CEO of Align Business Advisory Services, a firm helping companies with M&A, explained that in most established-player acquisitions of smaller companies, it’s about grabbing “something new that they don’t have and they get to leverage their existing infrastructures.”
When asked about the overall M&A market in 2018, Jalbert said some of the deals were pure geography plays where companies acquired assets in different locations.
Cannabis overview 2018: Canadian and American markets closer than ever
Despite their differences in restrictions and versatility in the open markets, Canada and the US have never been closer when it comes to the cannabis space.
On one side, there are several LPs pursuing legitimacy and a bigger stage for the growth of these companies through US-based public listings.
Four TSX-listed Canadian LPs have NYSE or NASDAQ listings now, and at least two more have expressed interest and plan to follow suit.
“American investors like to buy American securities listed on the [NYSE] or NASDAQ,” Taerk said.
While these companies pursue US listings they still can’t actually enter the US cannabis market due to the federal status of the drug.
Meanwhile, Canada has become the listing home for Canadian cannabis companies targeting the US market.
Operators of multiple assets scattered across the different states with marijuana-friendly policies have popped up in the public market and in the minds of investors throughout 2018.
These companies are raising capital on the Canadian Securities Exchange (CSE), a smaller listing house in Canada that has elected not to block US issuers despite the unclear status of the drug.
At a federal level, cannabis and its business remain illegal, and the drug is a scheduled substance under the Controlled Substances Act.
However, several states have voted in favor of policies to allow a marketplace to be created.
Due to this dispute between the two levels of government, the TMX Group exchanges have elected to not allow any US operations for their issuers, while the CSE has opened its doors to the business.
Cannabis overview 2018: Investor takeaway
Cannabis investors have matured and have started to challenge where exactly the value is for the companies being hyped in the nascent industry.
Aspects such as branding and retail have picked up in appeal to investors and analysts.
“The global cannabis industry is accelerating but the market stills seems focused on farming and oversimplified capacity based metrics,” wrote Daniel Pearlstein, an analyst with Eight Capital, in January. “We encourage investors to think broader and think of cannabis as an ingredient.”
Overall 2018 has shown investors a cannabis public market that keeps growing and gaining sophistication in the pursuit of legitimacy.
Don’t forget to follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: 1933 Industries, Khiron Life Sciences, Invictus MD is a client of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Seth Rogen’s New Cannabis Brand are Now Available at Apothecarium Dispensaries in San Francisco , Berkeley and Capitola
The Apothecarium is offering cannabis from Houseplant, the cannabis lifestyle brand founded by Seth Rogen and Evan Goldberg at its five California dispensaries. The Apothecarium has three San Francisco locations (Castro, SOMA and Marina ) and one each in Berkeley and Capitola (outside of Santa Cruz ).
“With the vast number of dispensaries in California , we put a lot of effort into identifying the right ones that align with Houseplant’s values,” said Seth Rogen , Co-Founder of Houseplant. “The Apothecarium shares the same commitment to creating a strong consumer experience that we pride ourselves on and we are thrilled to bring our three initial strains to their stores in the Bay Area.”
Houseplant is launching with three flower strains, all of which will be available at The Apothecarium, including: Diablo Wind (sativa), Pancake Ice (sativa) and Pink Moon (indica). Like their founder’s groundbreaking film “Pineapple Express”, Houseplant strains are named after weather phenomena. Each strain will be sold in a custom tin.
“We are so proud to be one of the very first dispensaries in California to offer Houseplant to our customers,” said Ryan Hudson , CEO and co-founder of The Apothecarium. “Seth, Evan and everyone at Houseplant love and respect cannabis as much as we do. We simply cannot wait to share their beautiful and delicious flowers with our guests.”
“We’ve been working with the Houseplant team for more than a year and are grateful to have a partner that shares so many of our values, including an emphasis on cannabis education, quality, reform of cannabis laws and beautifully designed, recyclable packaging.”
“Seth has been hands-on during the process, spending time with our store managers to make sure they know the products and how much care has gone into vetting and selecting the best strains. We think our guests are going to love Houseplant.”
About The Apothecarium
The Apothecarium is recognized as one of the nation’s premier cannabis dispensaries, with an emphasis on education via in-depth one-on-one consultations from highly trained cannabis consultants. The company was founded by three first cousins and two family friends in 2011. Our dispensaries are known for providing educational events that are open to the public at no cost — and for welcoming seniors, first-time dispensary visitors, and people with serious medical conditions. The Apothecarium’s flagship San Francisco dispensary was named the best-designed dispensary in the country by Architectural Digest . Patients and customers may order at our dispensaries or online for pickup or delivery at apothecarium.com [apothecarium.com] .
The Apothecarium is committed to giving back to the communities we serve. We have donated more than $400,000 in cash to community groups and nonprofits — plus more than $300,000 worth of in-kind donations.
All Apothecarium dispensaries continue to implement safety measures to protect guests and team members. Protocols include strict social distancing inside and outside the dispensaries, a mask requirement for everyone inside the dispensaries, no contact check-in procedures and ongoing sanitizing throughout the day.
CA Licenses: C10-0000523-LIC; C10-0000522-LIC; C10-0000515-LIC, C10-0000738-LIC, C10-0000706-LIC
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Love Hemp Group PLC (AQSE:LIFE)(OTCQB:WRHLF), one of the UK’s leading CBD and hemp product suppliers, announces that Charles Lamb will be stepping down as a Non-Executive Independent Director of the Company, with effect from April 16, 2021, to focus on his other business interests
Charles has been an integral part of the Board’s efforts to grow the Company since its inception and has played a key role in the Company’s shift in strategy to focus on growing the Love Hemp brand globally.
Love Hemp will continue to develop the team over the coming months, focussing on maximising the significant business opportunities available to the Company as well as preparing it for its upcoming move to the London Stock Exchange’s Main List as announced on 8 April 2021.
Andrew Male, Chairman of Love Hemp Group, commented: “Charles has made a significant contribution to the Company over a period of successful growth and refocussing. On behalf of the Board, I would like to thank him for all his efforts and support and wish him the best with future endeavours.
“As we move towards a listing on the Main Market, we will be looking to strengthen our Board with those who are able to provide experience and guidance to support our future growth.”
For further information please contact:
AQSE Corporate Adviser
H&P Advisory Limited
+44 (0) 20 7907 8500
About Love Hemp Group
The Company, previously World High Life Plc, was incorporated on 30 January 2019 as an Investment Vehicle. Originally intended to identify opportunities in the CBD and Medicinal Cannabis space, it quickly acquired Love Hemp Ltd., the UK’s most recognisable CBD brand. The listed company recently changed its name to Love Hemp Group PLC as part of its evolving strategy to purely focus on supporting the “best in class” CBD brand as it embarks on a wider expansion of its core business and offering.
Love Hemp produces and supplies more than 40 product lines, comprising of oils, sprays and tinctures and a variety of edible and water-based CBD products. Love Hemp has established relationships with over 2,000 stores in the UK, including leading retailers such as Sainsbury’s, Boots, Ocado and Holland & Barrett.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact firstname.lastname@example.org or visit www.rns.com.
SOURCE: Love Hemp Group PLC
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Love Hemp Group PLC
Expects to file its 2020 Annual Financial Statements on or before May 31, 2021
Matica Enterprises Inc. (CSE: MMJ) (FSE: 39N) (OTCQB: MMJFF) (“Matica” or the “Company”) today announced that, as a result of the COVID-19 Pandemic measures, it will not be in a position to file its audited annual financial statements, the related management’s discussion and analysis and related CEO and CFO certificates (the “Annual Filings”) before the required deadline of April 30, 2021 (the “Specified Requirements”).
The Company is working closely with its auditor and expects to file the Annual Filings on or before May 31, 2021. The Company does not anticipate any delay in filing its interim financial statements, management’s discussion and analysis, and the related officer certifications for the financial period ended March 31, 2021.
Matica has applied to the OSC, as principal regulator for the Company, for the imposition of a management cease trade order under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) over the duration of the default. If a management cease trade order is issued, it will generally not affect the ability of persons who have not been directors, officers or insiders of Matica to trade in their securities.
The Company is providing this press release in accordance with National Policy 12-203 Management Cease Trade Orders (“NP 12-203”). The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default. The Company confirms as of the date of this news release that there is no other material information concerning the affairs of the Company that has not been generally disclosed.
Matica is a multi-faceted, innovative company in the Quebec cannabis space. Its subsidiary, RoyalMax Biotechnology Canada Inc. is a Dorval, Quebec based Health Canada Licence Holder. RoyalMax has been granted a standard cultivation licence, standard processing and medical sales licences by Health Canada.
On behalf of the Board of Directors
Matica Enterprises INC.
Boris Ziger, CEO & Chairman
Disclaimer for Forward-Looking Information
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.
This news release contains statements about the Company’s information that may be made available on the S&P Capital IQ Corporation Records Listing Program and the business of Matica that are forward-looking in nature and as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek Safe Harbor.
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So far there are no clear indicators as to when or if Australia could legalise recreational cannabis, but attitudes seem to be changing. Public support is growing, and there’s even some political acceptance.
Read on to learn more about when Australia may legalise recreational cannabis.
Public support for legalisation growing
Australians are no strangers to cannabis — a recently updated report from the Australian Institute of Health and Welfare shows that marijuana is the most extensively used illicit substance in the country.
With that in mind, it’s perhaps unsurprising that views on cannabis are changing in the country. In 2019, Australia’s National Drug Strategy Household Survey found that 41 percent of Australians are in favour of legalising cannabis — that’s close to double the support seen when the survey was done in 2007.
Aside from that, legalisation has been recommended by a number of government inquiries, including a 2019 Queensland Productivity Commission report on imprisonment and recidivism.
Several states have decriminalised personal use of cannabis on private property, including the ACT, the Northern Territory (NT) and South Australia. Most other states have a discretionary almost de facto decriminalisation in place through police diversion programs.
Those arrested for small amounts of under 50 grams of cannabis can be diverted to drug counselling or education, or issued a fine rather than a criminal conviction.
Economic opportunities lie in legalisation
Although Australia’s economy ended 2020 on a high note after facing COVID-19-related setbacks, some experts believe cannabis legalisation could assist even further with economic growth.
The climate of the NT and its accessibility to Asia makes the likelihood of legalised marijuana a possible gold mine for the NT, according to economist Rolf Gerritsen.
“The Government, if it licensed the system and appointed official sales points, could actually set up a nice little industry with the possibility of future exports,” Gerritsen told ABC News.
In 2020, Australia’s economy plunged into its first recession in three decades due to fallout from the coronavirus, which came mere months after devastating bushfires that ravaged over 12 million hectares.
A Twitter campaign from the Australian Greens political party is pushing for legalisation to help pull the nation out of recession, declaring cannabis a “multi-billion dollar industry.”
Federal cannabis legalisation unlikely
Although exciting, it seems unlikely that the Australian government will legalise marijuana at this stage.
Outside the Twitter campaign mentioned above, legalisation of cannabis has been a big part of the platform for the Greens, which are seeking the establishment of a controlled market for the sale of cannabis and would allow members of the public to grow up to six plants.
But the Greens are currently the only political party pushing for legalisation of recreational cannabis.
Both the Liberal National Party and Australian Labor Party have only shown support for medicinal cannabis at a federal level. In fact, Australian Attorney-General Christian Porter has been vocally opposed to the legalisation in Canberra, declaring the laws “terrible” and saying state- and territory-level laws conflict with federal laws on possession.
Many were looking towards the outcome of a New Zealand referendum on legalisation that failed as 50.7 percent voted “no” to the 48.4 percent “yes” votes.
What could legalisation do to the market?
A report from cannabis researcher Prohibition Partners hypothesizes great potential for Australia to significantly increase value through cannabis exports, while a focus on buying local could see more domestic cannabis revenue than ever before.
Success could encourage more regions to look closely at their own reform measures, particularly after watching the ACT’s adoption of restricted cannabis legalisation, the study argues.
“Both Victoria and Tasmania are also making moves towards more lenient cannabis laws and could be following in the ACT’s footsteps,” said the report’s authors.
“The Victorian government invested in R&D of the local industry, and is said to have ambitions to be the ‘cannabis bowl of Australia’ with a target of 500 local jobs.
The report predicts the Australian cannabis market will break a total market value of US$1.5 billion by the year 2025, which would make it the largest legal cannabis market in Oceania. Eagle-eyed investors will be watching the market closely.
Don’t forget to follow @INN_Australia for real-time updates!
Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.
Kelowna, British Columbia TheNewswire – April 15, 2021 Lexaria Bioscience Corp. (Nasdaq:LEXX) (Nasdaq:LEXXW) (CSE:LXX) (CNSX:LXX.CN) (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 .
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.
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