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LGC Capital Completes Acquisition of Initial Strategic Interest in Licenced Australian Medical Cannabis Company - Little Green Pharma
LGC Capital Completes Acquisition of Initial Strategic Interest in Licenced Australian Med...
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[{"type":"text","content":"\n\n\n\nLGC Capital Completes Acquisition of Initial Strategic Interest in Licenced Australian Medical Cannabis Company - Little Green Pharma\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\n\nCanada NewsWire\nMONTREAL, Oct. 12, 2017\n\n\n\nMONTREAL, Oct. 12, 2017 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (\"LGC\") is pleased to announce that it has today completed the acquisition of stage one of its strategic interest in licenced Australian Medical Cannabis company Habi Pharma Pty Ltd of Perth, Australia, doing business as \"Little Green Pharma\", as announced on September 26, 2017 and October 5, 2017. On October 5, 2017, the Company announced that the TSX Venture Exchange had authorized LGC to proceed to the closing of the transaction and this transaction has now been completed.\n\nAt the closing, LGC subscribed for 2,161,091 shares of Little Green Pharma, representing an initial 4.99% of its issued and outstanding shares. As consideration for the shares, LGC paid AUD $432,218 and issued 5,660,000 LGC common shares to Little Green Pharma at a deemed issue price of $0.11 per share. LGC, subject to certain Australian regulatory and other approvals, can now move towards increasing its interest in Little Green Pharma up to 19.03%.\n\nAbout Little Green Pharma:\n\nLittle Green Pharma is one of the few companies in Australia to be granted a licence to cultivate and produce Medical Cannabis within Australia.\n\nLittle Green Pharma (www.lgpharma.com.au) has advised LGC that it plans to commence cultivation and production of 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 oth...