Lexaria Bioscience (OTCQB:LXRP) announces the entry of a letter of intent (the “LOI”) for the licensing of its proprietary absorption and palatability enhancing technology to Hempco Food and Fiber (OTCPK:HEMP) (“Hempco”).
Under the auspices of the LOI, Hempco and Lexaria will begin lab tests and formulations to evaluate proprietary methods of applying Lexaria’s newly-patented technology for Hempco’s needs and demands. Hempco’s award winning food products may be enhanced with Lexaria’s patented technology.
Financial terms of the LOI are not disclosed and are still under negotiation. The LOI is expected to advance into a definitive agreement within 90 days but there is no assurance of this.