MONTREAL, Oct. 23, 2017
/CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) ("LGC") is pleased
to advise that "Little Green Pharma", has now received their final
permits from the Australian Government enabling them to move to
their first commercial production of Medical Cannabis for the
Australian market.
Little Green Pharma have also advised LGC that they plan to
start growing within weeks.
John McMullen, LGC
Capital's CEO, comment; "Little Green Pharma have advised us that
they have now received their final permits from the Australian
Government to commence commercial production of Medical Cannabis
for the Australian Market and they plan to be growing within weeks.
Not only are Little Green Pharma one of the few licenced companies
in Australia in the sector, but
now they are also one of the very few companies permitted to grow
Medical Cannabis for commercial production. LGC Capital is pleased
that we have become a shareholder of Little Green Pharma just as
they commence their journey down the path of commercial production.
We believe that this investment will prove to be a resounding
win-win for both Little Green Pharma and LGC."
Fleta Solomon, Little Green
Pharma's Managing Director, commented; "We are in the process of
importing seeds and look forward to the imminent planting of our
chosen medicinal cannabis strains. Discussions are underway with
local and international leading researchers in a collaborative
approach to examine the effect of medicinal cannabis on general
cognitive deficit in dementia and PTSD."
LGC owns an initial 4.99% of Habi Pharma Pty Ltd of Perth, Australia, doing business as "Little
Green Pharma", and subject to certain Australian regulatory and
other approvals, can potentially increase its interest in Little
Green Pharma up to 19.03%.
About Little Green Pharma:
Little Green Pharma is one of the few companies in Australia to be granted a licence to cultivate
and produce Medical Cannabis within Australia.
Little Green Pharma
(www.lgpharma.com.au) has advised LGC that it
plans to cultivate and produce one of the first clean locally-grown
Medical Cannabis products for use solely within Australia, giving hope and relief to those
suffering from certain debilitating illnesses. Little Green
Pharma's patented technology aims to control the medicinal cannabis
particle size encapsulated in the liposomes to optimise the
bio-availability so the cannabinoids are readily absorbed into the
bloodstream. This enables the resulting preparation to achieve
desired therapeutic results with significantly lower cannabinoid
doses, when compared to other forms of medicinal cannabis. Little
Green Pharma's patented process significantly reduces production
costs, enabling Little Green Pharma to be more competitive in the
market.
About LGC (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 investment in Little Green
Pharma, and LGC's 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, including its proposed
investment in Little Green Pharma, 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.
Information Relating to Little Green Pharma:
All information contained in this press release relating to
Little Green Pharma has been provided to LGC by Little Green
Pharma. LGC has relied upon this information without having made
independent inquiries as to its accuracy or completeness and
assumes no responsibility for any inaccuracy or incompleteness of
such information.
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