- Lexaria Bioscience (OTCQX: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.