Symbol: TSX-V: LG
MONTREAL,
Dec. 11, 2017 /CNW Telbec/ - LGC Capital Ltd.
(TSXV: LG) ("LGC") announces that on December 8,
2017, its Board of Directors granted an aggregate of 5,250,000
stock options to six of LGC's directors and officers. The
stock options have an exercise price of $0.36, representing the closing price of LGC's
shares on the TSX Venture Exchange on December 7, 2017, and a
term of ten years. The stock options were granted under LGC's
2016 Stock Option Plan.
LGC also announces that its Board of Directors amended the 2016
Stock Option Plan on December 8, 2017 so as to increase the
number of shares that can be issued thereunder to 58,946,726
shares, equal to 20% of the 294,733,632 common shares of LGC issued
and outstanding following the recent completion by LGC of its
$3.73 million private
placement. The increase represents 12,137,661 additional
common shares. The amendment to the 2016 Stock Option Plan is
subject to approval of the TSX Venture Exchange and to shareholder
approval, which LGC intends to seek at its next annual meeting.
Following the amendment to the 2016 Stock Option Plan, the Board
of Directors of LGC granted an aggregate of 9,750,000 additional
stock options to six of LGC's directors and officers. These
additional stock options also have an exercise price of
$0.36 and a term of ten years and
were granted under LGC's 2016 Stock Option Plan, as amended.
The 9,750,000 stock options may not be exercised until such time,
if any, as LGC acquires approval from the TSX Venture Exchange and
shareholder approval for the amendment to the 2016 Stock Option
Plan described in this press release.
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's objective is
to become a diversified business group with core business divisions
that provide shareholders with exposure to a diverse range of
businesses, products and services.
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. 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