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July 14, 2009 VANCOUVER, BC — Lexaria Corp. (OTC BB: LXRP) (the "Company" or "Lexaria") announces that under the extremely challenging market conditions the company is pleased to have completed an equity financing that will support ongoing operations. After issuing 3,670,000 new shares to complete the recent financing and partial debt settlement, Lexaria will have 9,762,370 shares issued and outstanding. There are a total of 500,000 stock options issued and outstanding. There are 525,000 warrants that expire
on Jul 18, 20009. The Company’s existing wells continue to produce oil at the proven oil field, Belmont Lake. Using gas-lift technology, the field has been producing consistently. Belmont Lake is located in a flood plain of the Mississippi River and is subjected to seasonal flooding generally between January and May, most years. Our utilization of a remote tank farm and gas compressor; injector and production pipelines; and the gas-pressurized oil lift system have enabled oil production even during those times when the Mississippi River is at flood stage. The Company is investigating possible methods and timing for drilling additional production well(s) as it looks to build oil production and cash flows. About Lexaria Corp. Lexaria Corp. is an oil & gas company active primarily in Mississippi, where it holds between 32% and 60% gross working 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, weather, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. There can be no assurance that expected oil and gas production will actually materialize; and thus no assurance that expected revenue will actually occur. There is no assurance the Company will have sufficient funds to drill additional wells, or to complete acquisitions or other business transactions. Such forward-looking statements also include estimated cash flows, revenue and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and intentions to participate in future exploration drilling. Adverse weather conditions can delay operations, impact production, and cause reductions in revenue. The Company may not have sufficient expertise to thoroughly exploit its oil and gas properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk. 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. |