UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) January 14, 2025

 

LEXARIA BIOSCIENCE CORP.

(Exact name of registrant as specified in its charter)

 

Nevada

 

000-39874

 

20-2000871

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer

Identification No.)

 

100 – 740 McCurdy Road, Kelowna, BC Canada

 

V1X 2P7

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code (250) 765-6424

___________________________________________________

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Common Stock, par value $0.001 per share

Warrants to Purchase Common Stock

 

LEXX

LEXXW

 

The Nasdaq Capital Market

The Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐ 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

Item 5.07 Submission of Matters to a Vote of Security Holders

 

On January 14, 2025 at 1:00 p.m. (Pacific Time), the Company held its annual and special shareholder meeting (the “Meeting”).  There were 9,761,279 shares of the Company represented in person or by proxy at the Meeting, constituting 55.93% of the Company’s issued share capital as at November 18, 2024, being the record date of the Meeting.  The matters voted upon at the Meeting and the final voting results are set forth below:

 

Matter Being Voted On

 

For

 

 

Against/

Withheld

 

 

Abstain

 

 

Broker Non-Vote

 

 

Percent

Approved By1

 

To Elect Chris Bunka as a director

 

 

5,168,004

 

 

 

608,879

 

 

 

-

 

 

 

3,984,396

 

 

 

89%

To Elect John Docherty as a director

 

 

5,635,178

 

 

 

141,705

 

 

 

-

 

 

 

3,984,396

 

 

 

98%

To Elect Nicholas Baxter as a director

 

 

3,600,923

 

 

 

2,177,149

 

 

 

-

 

 

 

3,983,207

 

 

 

62%

To Elect Ted McKechnie as a director

 

 

3,100,882

 

 

 

2,677,190

 

 

 

-

 

 

 

3,983,207

 

 

 

54%

To Elect Albert Reese Jr. as a director

 

 

5,208,406

 

 

 

569,666

 

 

 

-

 

 

 

3,983,207

 

 

 

90%

To Elect Richard Christopher as a director

 

 

5,682,948

 

 

 

95,124

 

 

 

-

 

 

 

3,983,207

 

 

 

98%

To Elect Bal Bhullar as a director

 

 

5,679,731

 

 

 

98,341

 

 

 

-

 

 

 

3,983,207

 

 

 

98%

To Appoint Malone Bailey LLP as Auditors

 

 

9,544,943

 

 

 

192,543

 

 

 

27,793

 

 

 

-

 

 

 

98%

To Approve Executive Compensation

 

 

5,580,530

 

 

 

150,814

 

 

 

46,727

 

 

 

3,983,208

 

 

 

97%

To Approve Executive Compensation Annually2

 

 

1,828,002

 

 

 

-

 

 

 

119,054

 

 

 

3,983,207

 

 

 

32%

To Approve Executive Compensation every two years

 

 

45,224

 

 

 

-

 

 

 

119,054

 

 

 

3,983,207

 

 

 

1%

To Approve Executive Compensation every three years

 

 

3,785,792

 

 

 

-

 

 

 

119,054

 

 

 

3,983,207

 

 

 

66%

To Approve the Warrant Exercise Proposal

 

 

4,024,010

 

 

 

1,663,342

 

 

 

90,719

 

 

 

3,983,208

 

 

 

70%

To Ratify the lawful actions of the directors for the past year

 

 

5,268,595

 

 

 

412,730

 

 

 

96,747

 

 

 

3,983,207

 

 

 

91%

 

1 Percentage is calculated based on abstained votes and broker non-votes not being counted as a vote against the resolution.

2 The timing for the approval of the executive compensation was issued as one proposal, accordingly the number of votes abstaining and representing broker non-votes for each frequency option are not cumulative.

 

All of the proposals are described in detail in the Company’s proxy statement filed with the Securities and Exchange Commission on November 27, 2024.

 

 
2

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

LEXARIA BIOSCIENCE CORP. 

 

 

 

 

 

/s/ Richard Christopher 

 

 

Richard Christopher 

 

 

CEO, Principal Executive Officer 

 

 

 

 

 

Date: January 15, 2025

 

 

 

 
3
v3.24.4
Cover
Jan. 14, 2025
Document Information Line Items  
Entity Registrant Name LEXARIA BIOSCIENCE CORP.
Entity Central Index Key 0001348362
Document Type 8-K
Amendment Flag false
Entity Emerging Growth Company false
Document Period End Date Jan. 14, 2025
Entity File Number 000-39874
Entity Incorporation State Country Code NV
Entity Tax Identification Number 20-2000871
Entity Address Address Line 1 100 – 740 McCurdy Road
Entity Address City Or Town Kelowna
Entity Address State Or Province BC
Entity Address Postal Zip Code V1X 2P7
City Area Code 250
Local Phone Number 765-6424
Entity Address Country CA
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Common Stock [Member]  
Document Information Line Items  
Security 12b Title Common Stock, par value $0.001 per share
Trading Symbol LEXX
Security Exchange Name NASDAQ
Warrants [Member]  
Document Information Line Items  
Security 12b Title Warrants to Purchase Common Stock
Trading Symbol LEXXW
Security Exchange Name NASDAQ
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