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June 20, 2007 VANCOUVER, BC — Lexaria Corp. (OTC BB: LXRA) (the "Company" or "Lexaria") announces that Mr. Todd McMahon has joined the Advisory Board of Lexaria Corp, effective immediately. Mr. McMahon is an oil & gas consultant whose experience will prove invaluable in advancing Lexaria’s business plans. Mr. McMahon has had a successful 20-year financial services marketing career in New York with IDS American Express, Connecticut Mutual Life and others. He is currently CEO of PetroProspects which provides quality divestment, mergers, acquisitions and joint venture opportunities to the oil and gas industry. He manages an active data base of over 15,000 industry buyers and joint venture participants. “I’m excited to have joined the Advisory Board of Lexaria under the leadership of President Chris Bunka. There is a real plan for growth that I expect to be able to assist with my extensive knowledge of properties and other opportunities,” said Todd McMahon. Lexaria also announces the awarding of 100,000 stock options to Mr. Thomas Ihrke, and the awarding of 300,000 stock options to Mr. Todd McMahon, both of whom are currently sitting on the Advisory Board of the Company. These stock options have an exercise price of $0.80. Additionally, 700,000 existing stock options previously awarded to Directors and an Advisory Board member, are being repriced with an exercise price of $0.80. About Lexaria Corp. Lexaria Corp. is an oil & gas company active in Mississippi, Oklahoma and in Alberta, Canada. The main focus currently is Mississippi, where it holds between 20% and 40% gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities. Contact: Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings. |