By: Dylan Sikes - AllPennyStocks.com News

Thursday, September 8, 2016

Equities have edged lower in trading today even as oil prices rose sharply. Market sentiment has been weighed down by comments from the European Central Bank (ECB) President Mario Draghi. The ECB released its latest monetary policy decision. While the central bank kept benchmark interest rates unchanged, it did not announce an extension of its quantitative easing program. Remember that the rally in risk assets has been driven to a large extent by developed world central banks’ ultra-loose monetary policy. The ECB President said in a press conference that the central bank did not discuss an extension of its bond buying program. Draghi though did note that the program will run until the end of March next year. The market had been expecting an extension of the bond buying program.

Although markets have dragged lower, with all three major indexes in the U.S. down, some stocks are gaining momentum. One such stock is Lexaria Bioscience Corp. (OTCQB:LXRP). Lexaria is a food sciences company focusing on the delivery of cannabinoid compounds procured from agricultural hemp, through gourmet foods based on its infusion technologies. It operates through three segments: oil and gas exploration, medical marijuana and Alternative Health Products. It offers its products under the ViPova and Lexaria Energy brand names. Its brands use technology to infuse hemp oil ingredients with a lipid in foods.

LXRP shares are gaining momentum after the company announced two important new developments. LXRP announced that it has entered its first ever Private Label agreement. Under the terms of the agreement, Lexaria will cause a certain new line of cannabidiol/herbal products powered by its patent-allowed technology to be manufactured under the Timeless Herbal Care Limited brand name for Timeless to market and distribute across the USA, Canada, and Jamaica. The Timeless brand with Lexaria's enhancements will offer Timeless' consumer base improved taste and bioavailability for hard-to-absorb molecules. By utilizing Lexaria's protected technology the products will be unique in a sector where tangible benefits are highly sought after.

LXRP also announced that it has entered into a definitive technology out-licensing agreement with Timeless. Under the terms of the agreement, Timeless has acquired exclusive rights along with only Lexaria itself in the country of Jamaica and the option to acquire semi exclusive rights in each of Canada and the USA to use Lexaria's patent-allowed palatability and absorption improving technology to develop, produce and sell certain products containing cannabidiol and other active ingredients under the Timeless brand in those nations.

Chris Bunka, CEO of Lexaria Bioscience, said that the company is proud to have reached these important agreements with the team at Timeless Herbal and together with Timeless, it is moving fast to attack exciting consumer sectors new to us that we believe will deliver significant results.

At last check, LXRP shares were trading 2.02% higher at $0.143 on volume of 80,350, which is more than double the daily average volume of 37,543. Shares of LXRP have been on the move up in 2016 and are within a whisker off of their 52 week highs.

Copyright © 2016 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.