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LGC Capital Completes $8 Million Bought-Deal Private Placement
LGC Capital Completes $8 Million Bought-Deal Private Placement Canada NewsWire M...
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[{"type":"text","content":"\n\n\n\nLGC Capital Completes $8 Million Bought-Deal Private Placement\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Feb. 16, 2018\n\n\n\nLGC Capital Ltd.Symbol: TSX-V: LG\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nMONTREAL, Feb. 16, 2018 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (\"LGC\") is pleased to announce that it has completed its previously-announced bought-deal private placement, including a partial exercise of the underwriter's option, by issuing 18,515,000 units at a price of $0.435 per unit for gross proceeds to LGC of $8,054,025.  The units were sold to \"accredited investors\" in Canada and internationally through Cormark Securities Inc. as underwriter.  Each of the units is comprised of one common share and one common share purchase warrant.  Each full warrant entitles its holder to subscribe for one additional LGC common share at an exercise price of $0.49 for 36 months from the closing date.  In the event that the volume weighted average trading price of LGC's shares on the TSX Venture Exchange for a period of 20 consecutive trading days commencing four months from the closing date is at least $0.65, LGC will be entitled to send a notice to the holders of the warrants accelerating the expiry date of the warrants to a date not less than 30 trading days after the date of such notice.\n\n\n \n \n\n \nAs previously announced, LGC will use the net proceeds from the private placement to meet its obligations within LGC's current cannabis investment portfolio, for further investments, and for working capital.\n\nJohn McMullen, CEO of LGC commented, \"LGC would like to thank the banking and legal teams for their tireless efforts to close this funding into LGC from a major international institutional investor in the global cannabis sector.  We now have more than CAD $16,400,000 cash on hand and are well funded to execute our already announced growth strategy with respect to ...