Lexaria Corp (OTCMKTS:LXRP) is slowly drifting below $0.10 where it has traded since moving up in early November from lows of $0.045. LXRP is a stock with a history of big moves running from $0.003 low’s to highs of $0.785 per share after the Company entered the red hot Cannabis sector earlier this year.
There are plenty of reasons to get excited about pot stocks in 2015; according to a recent report from MMJ Business Daily, 2015 is expected not only to see more investment dollars flow into the market but it could even outpace the growth rate seen in 2014. States like Nevada, Illinois, Massachusetts, Oregon, and Alaska have all been identified as industry drivers this year. Furthermore, the rise in “big money” from some major investment funds has just started to hit the sector.
In September the JV reported that they had submitted the Health Canada MMPR Licensed Producer application in July to produce 10,000kg of Medical Marihuana per year under its Licensed Producer application. The Company is seeking a Ready to Build letter from Health Canada.
Lexaria has been trading on the bb’s for some time; the Company was initially registered in Nevada in 2005 to explore and develop oil and gas assets in low-risk areas of North America. The Company still owns significant oil production in Mississippi, producing oil from wells at the Belmont Lake oil field.
LXRP still receives revenues from these wells reporting $463,798 in revenues for the 9 months ended July 1, 2014. The Company says they have earned a total of $3.5 million oil production revenues since their inception.
In November LXRP acquired 51% of PoViva Corp. PoViva literally means “Taking in Life” PoViva uses a patent pending process to bind active CBD ingredients with a lipid, allowing for a more efficient and comforting delivery of the CBD than competing products that do not have the benefit of our patent-pending process.
PoViva owns two patents pending that govern the process used to infuse the CBD into food products, and both patents pending are part of the acquisition. An initial cash payment has been made to PoViva and Lexaria currently has sufficient cash resources to completely fund and launch the acquisition. Lexaria does not require any equity financing to complete the transaction.
To Find out the inside Scoop on LXRP Subscribe to Microcapdaily.com Right Now by entering your Email in the box below
Later in November LXRP issued a letter to shareholders in which they announced their plan to launch a line of premium products relying on their patent pending CBD-infusion process, to bring CBD’s into the mainstream. Because CBD’s do not have psychoactive properties we expect our products to appeal to the widest possible customer base. Initially we will focus our sales efforts across the continental USA.
Lexaria has commissioned a new website for the effort and plans to begin working on traditional retail sales channels and will work to continually develop those “bricks and mortar” sales methods. Also early in 2015 we hope to add our next CBD-based product line.
Conclusion: Currently trading at a $3.5 million market valuation LXRP has a strong cash position of $550,000 in the treasury. The Company is led by CEO Mr. Bunker who’s vision is to have multiple growing facilities across Canada to mitigate the risks associated with this kind of operation. To this end the Company has announced the JV with Enertopia Corp. who already has 3 licensed facilities in Canada.
We have a Monster Pick Coming. Subscribe Right Now!
LXRP seems to be making all the right moves as the stock trades strong at the $0.10 level. As we come into the season when pot stocks usually get hot LXRP is one to watch; as we know from earlier this year the stock loves to move.
Sign Up now for our 100% FREE Penny Stock Newsletter
Disclosure: we hold no position in LXRP either long or short and we have not been compensated for this article.