/Not for distribution to United States newswire services or for
dissemination in the United States/
MONTREAL, Nov. 28, 2017
/CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) ("LGC") is
pleased to announce that it has closed the subscription books for
its previously-announced private placement at a price of
$0.15 per unit and expects to
complete the private placement in an amount of approximately
$4.265 million this week. In
light of demand, LGC increased the size of the private placement
from the previously-announced maximum of $3.25 million.
John McMullen, CEO of LGC
stated, "We at LGC Capital are very pleased with the global
market response we have received throughout this capital raise.
With these funds, LGC will now advance its global portfolio of
businesses with our partners. These additional funds will help LGC
to grow at a faster pace than we originally envisaged. We
thank our new shareholders for their trust in LGC's management and
our plan to expand the scope of businesses that we are looking to
invest in globally."
Each of the units to be issued by LGC will be comprised of one
common share and one common share purchase warrant; each warrant
will entitle its holder to acquire one additional LGC common share
at a price of $0.25 for a period of
18 months from the closing date of the private placement. In the
event that the volume weighted average trading price of LGC's
shares on the TSX Venture Exchange for a period of ten consecutive
trading days is at least $0.30, the
warrants will expire, at the sole discretion of LGC, on the
30th day after the date on which LGC sends a notice in
prescribed form to the holders of the warrants.
The units are being offered to "accredited investors" in
Canada and internationally. LGC
will use the net proceeds from the private placement to meet its
obligations within LGC's current cannabis investment portfolio and
for working capital.
About LGC (http://www.lgc-capital.com)
LGC Capital Ltd. is a Canadian incorporated public company
listed on the TSX Venture Exchange (TSXV: LG). LGC is a diversified
investment company with core holdings in businesses that provide
shareholders with exposure to a diverse range of high-growth
businesses, products and services. To date, LGC has entered into
agreements for investments in private cannabis operations in
South Africa, Australia and Canada. LGC also has a joint venture with
AfriAg (Pty) Ltd. to grow and distribute medical and recreational
cannabis products in the southern African region for export to
regulated and certified end users around the world, and a strategic
alliance with Creso Pharma Limited for the creation of a
vertically-integrated cannabis operation, which includes
cultivation, IP generation, product development, and
commercialization. LGC is headquartered in Montreal, Canada.
FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements with
respect to LGC Capital Ltd. ("LGC"), its operations, strategy,
investments, financial performance and condition, and the private
placement referred to above. These statements generally can be
identified by use of forward-looking words such as "may", "will",
"expect", "estimate", "anticipate", "intends", "believe" or
"continue" or the negative thereof or similar variations. The
actual results and performance of LGC could differ materially from
those expressed or implied by such statements. Such statements are
qualified in their entirety by the inherent risks and uncertainties
surrounding future expectations. Some important factors that could
cause actual results to differ materially from expectations
include, among other things, general economic and market factors,
competition, government regulation and the factors described under
"Risk Factors and Risk Management" in LGC's Management's Discussion
and Analysis for the fiscal year ended September 30, 2016, as filed on SEDAR
(www.sedar.com). The cautionary statements qualify all
forward-looking statements attributable to LGC and persons acting
on its behalf. Unless otherwise stated, all forward-looking
statements speak only as of the date of this press release and LGC
has no obligation to update such statements, except to the extent
required by applicable securities laws.
Caution Regarding Press Releases:
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE LGC Capital Ltd