Form 8-K for LEXARIA CORP.
12-Jun-2015
Unregistered Sale of Equity Securities, Regulation FD Disclosure, Financial Stateme
Item 3.03 Cancellation of Unregistered Sales of Equity SecuritiesOn June 11, 2015, Lexaria Corp. (the “Company”) entered into a Letter of Intent dated June 10, 2015 with Shaxon Enterprises Ltd. to sell its 49% interest with the MMPR Burlington application number 10QMM0610. The Letter of Intent is attached hereto as exhibit 10.1 to this current report. The Burlington project related with Joint Venture Agreement dated May 28, 2014 with Enertopia Corp. based on developing a business of legally producing, manufacturing, propagating, importing/exporting, testing, researching and developing marijuana at the Burlington Location. This Joint Venture is to be terminated based on the closing of a definitive agreement to be entered into pursuant to the terms of the Letter of Intent with Shaxon Enterprises Ltd. 500,000 restricted common shares issued to Enertopia Corp. at a deemed price of $0.40 held in escrow will be returned back to Lexaria Corp. treasury and cancelled.
Item 7.01 Regulation FD Disclosure.A copy of the news release announcing Letter of Intent and cancellation of Enertopia/Lexaria Joint Venture Agreement is filed as exhibit 99.1 to this current report and is hereby incorporated by reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.(d) Exhibits.
Exhibit No. Description 10.1 Letter of Intent dated June 10, 2015 99.1 News Release dated June 12, 2015 |
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