Lexaria Nicotine LLC, a division of Lexaria BioScience and a subsidiary of Altria Group, Inc. announced on January 15 that they have entered into a definitive investment agreement. The Altria investment will fund research on regulatory compliant, oral forms of nicotine delivery. Altria, makers of Marlboro cigarettes, has been granted exclusive DehydraTech license rights to commercialize oral nicotine products in the United States, while Lexaria Bioscience retains a majority equity ownership of Lexaria Nicotine LLC. According to a Lexaria BioScience press release, Altria will initially have the right to appoint one of the seven directors on Lexaria Nicotine‚Äôs board of directors and, through the additional phased investments, may have the power to appoint up to three of the seven directors. Altria has the option to acquire a 100% ownership interest in Lexaria Nicotine commensurate with then-current fair market value. Big Tobacco Giant Altria Funds Lexaria’s Edible Nicotine Project

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