MONTREAL, Jan. 5, 2018
/CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) ("LGC")
wishes to comment on the directive issued yesterday by the United States Justice Department that will
allow the enforcement of U.S. federal marijuana laws in those
states that have legalized cannabis.
John McMullen, CEO of LGC stated:
"As a Canadian, I have full respect for the United States
Government. Yesterday's directive by the U.S. Justice Department
will unfold over time. That being said, I wish to remind our
shareholders that LGC expressly has no current, nor expects to
have, commitments to any cannabis investments in the United States. LGC's portfolio is
comprised only of investments in jurisdictions worldwide in which
cannabis is or will shortly be legal, excluding the United States.
We as an executive team and Board realize the future
importance of medical cannabis products for the global consumer.
Through our investment in Little Green Pharma, we are pleased with
the recent decision of the Australian government to consider global
export.
LGC also looks forward to the Canadian Government's expansion
of its legislative mandate to legalize cannabis further with the
approval for recreational consumption. LGC's pending investment in
Quebec is both exciting and, we
believe, will add to our potential returns.
We at LGC believe proudly in our direction and will
diligently continue forward with our partners in Australia, Canada and Switzerland. Our partners in Southern Africa continue to excel in their
goals as well. We recognize the potential for Southern Africa to grow and supply a large
percentage of the world's high-quality cannabis demand.
The global cannabis market is expected to reach at
approximately $70 - $75 billion by 2025[1] and there are
consumers who demand quality products. We are excited about LGC's
potential to deliver to those people.
We will update our shareholders and the markets in a timely
manner as we deliver on our global mandates outside of the United States."
1) http://420intel.com/articles/2017/12/12/canadian-innovations-cultivate-quality-cannabis-explosive-global-marijuana
About LGC Capital Ltd. (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, and the
Investment Agreement 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.
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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