Form 8-K for LEXARIA CORP.
10-Dec-2014
Completion of Acquisition or Disposition of Assets, Regulation FD Disclosure
Item 2.01 Disposition of AssetOn November 26, 2014 a Purchase and Sale Agreement was entered into between Lexaria Corporation, and Cloudstream Belmont Lake, LP for the purchase and sale of oil and gas working interests, net revenue interests and other interests in Belmont Lake, Mississippi for total consideration of $1,400,000.
On December 5, 2014 the Lexaria Corporation closed the sale of Belmont Lake with Cloudstream Belmont Lake, LP. All outstanding debts were repaid in full through this closing, giving Lexaria net proceeds of $671,807. For additional details in regards to the purchase and sale, refer to the full copy of the Purchase and Sale Agreement attached hereto as an exhibit to this current report.
Item 7.01 Regulation FD Disclosure.A copy of the news release announcing the sale of Belmont Lake is filed as exhibit 99.1 to this current report and is hereby incorporated by reference.
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