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Leni Gas Cuba and Knowlton Capital complete reverse take-over
Leni Gas Cuba and Knowlton Capital complete reverse take-over Leni Gas Cuba and Kn...
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[{"type":"text","content":"\n\n\n\nLeni Gas Cuba and Knowlton Capital complete reverse take-over\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nLeni Gas Cuba and Knowlton Capital complete reverse take-over\nCanada NewsWire\nLONDON, HAVANA, and MONTREAL, July 12, 2016\n\n\n\nLONDON, HAVANA, and MONTREAL, July 12, 2016 /CNW Telbec/ - Cuban specialist investment company Leni Gas Cuba Limited (\"Leni Gas Cuba\") and Knowlton Capital Inc. (\"Knowlton\") (TSXV: KWC‑H) are pleased to announce that they today completed the previously-announced reverse take-over of Knowlton by Leni Gas Cuba (the \"RTO\").\n\nIn connection with the RTO, Knowlton's corporate name was changed to LGC Capital Ltd. (\"LGC Capital\"), so as to reflect the transaction with Leni Gas Cuba, and LGC Capital consolidated its 46,575,500 issued and outstanding common shares on the basis of one common share for every 1.27795529 shares issued and outstanding.  At the closing of the RTO, LGC Capital issued an aggregate of 197,599,996 common shares to the shareholders of Leni Gas Cuba in exchange for their shares, on the basis of one LGC Capital share for every 2.5 shares of Leni Gas Cuba.  As a result, LGC Capital now owns 100% of the shares of Leni Gas Cuba and there are 234,045,310 common shares of the LGC Capital issued and outstanding, of which 84.43% are held by the former shareholders of Leni Gas Cuba.\n\nLeni Gas Cuba will be delisted from the ISDX Growth Market effective today, July 12, 2016.  LGC Capital will be listed on the TSX Venture Exchange as a Tier 2 investment company under the stock symbol \"QBA\". It is expected that the shares of LGC Capital will commence trading (on a consolidated basis) on the TSX Venture Exchange shortly, on a date to be determined and announced by the TSX Venture Exchange.  Until that time, the shares of Knowlton Capital will continue to trade on their current basis under the stock symbol \"KWC‑H\".\n\nThe Board of Directors of LGC Capital is comprised of David Lenigas (Co-Chairman and Chief Executive Officer), Mazen Haddad (Co-Ch...