LGC Capital Ltd. Announces Private Placement

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[{"type":"text","content":"\n\n\n\nLGC Capital Ltd. Announces 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, Nov. 16, 2017\n\n\n\nSymbol: TSX-V: LG\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nMONTREAL, Nov. 16, 2017 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (\"LGC\") is pleased to announce that it has received conditional approval from the TSX Venture Exchange for a private placement of units at a price of $0.15 per unit.  The private placement will be in a minimum amount of $1 million (6,666,666 units) and a maximum amount of $2 million (13,333,333 units).  LGC expects the closing of the private placement to take place within the next week.\n\nEach of the units will be comprised of one common share and one common share purchase warrant; each warrant will entitle its holder to acquire one additional LGC common share at a price of $0.25 for a period of 18 months from the closing date of the private placement. In the event that the volume weighted average trading price of LGC's shares on the TSX Venture Exchange for a period of ten consecutive trading days is at least $0.30, the warrants will expire, at the sole discretion of LGC, on the 30th day after the date on which LGC sends a notice in prescribed form to the holders of the warrants.\n\nThe units are being offered to \"accredited investors\" in Canada and internationally. LGC will use the net proceeds from the private placement to meet its obligations within LGC's current cannabis investment portfolio and for working capital.\n\nAt the closing of the private placement, LGC will pay cash commissions to various securities dealers in an amount equal to 5% of the proceeds from the sale of units sold through such dealers.  In addition, LGC will issue \"broker warrants\" to such dealers in an amount equal to 5% of the number of units sold through them.  Each of the broker warrants will entitle the holder to purchase one additional LGC common shar...

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