/NOT FOR DISTRIBUTION IN THE UNITED STATES/
MONTREAL, Oct. 12, 2018 /CNW Telbec/ - LGC Capital
Ltd. (TSXV: LG) (OTC-PINK: LGGCF) ("LGC") is pleased to
announce that Viridi Unit SA ("Viridi") of Switzerland has commenced harvesting of 20,000
plants growing at their Geneva
cannabis cultivation facility, consisting of 108,000 square feet of
canopy.
These plants are expected to yield approximately 3,000 kg of
dried cannabis flowers from this current crop for sale within
Europe and for use in Viridi's
broad range of product offerings in Switzerland and the European Union market.
Viridi Unit's high-CBD dry cannabis products are sold under the
ØNΞ™ Premium Cannabis brand in over 80 retail locations across
Switzerland and the EU and in
their cosmetics line under the Viridi Care brand.
LGC announced a transaction on July
30th, 2018, by which LGC is to acquire a 30%
interest in Viridi and a 5% royalty on Viridi's net sales.
Refer to LGC's press release dated July
30th, 2018 for full details on the transaction.
This transaction is subject to TSXV approval.
About Virdi Unit SA (www.viridi-unit.com)
VIRIDI is a vertically integrated legal cannabis supplier
to the Swiss and European markets, growing its own seeds and
flowers, producing and developing a wide range of cosmetics,
cigarettes and natural wellness Swiss authorized products amongst
many of its diversified products and activities.
About LGC (www.lgc-capital.com)
LGC Capital is a leading investment firm with a focus on the
Legal Global Cannabis market. Through its portfolio
investment companies, LGC is building a world-leading, vertically
integrated system of interconnected legal cannabis companies with
cultivation, processing and distribution in Australia, Jamaica, Switzerland, Italy, and Canada serving domestic and export markets.
LGC Capital Ltd. is a Canadian incorporated public company listed
on the TSX Venture Exchange (TSXV: LG).
Notice Regarding Forward Looking Statements
This press
release may contain forward-looking statements with respect to LGC
Capital Ltd. ("LGC") and Viridi Unit SA ("Viridi"), and their
respective 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 and Viridi 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, 2017, 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
neither LGC nor Viridi has any 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