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LGC Capital Ltd. completes $3.73 million private placement
LGC Capital Ltd. completes $3.73 million private placement Canada NewsWire MONTR...
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[{"type":"text","content":"\n\n\n\nLGC Capital Ltd. completes $3.73 million 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\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Dec. 7, 2017\n\n\n\n/Not for distribution to United States newswire services or for dissemination in the United States/\n\nSymbol: TSX-V: LG\n\n\n\nMONTREAL, Dec. 7, 2017 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (\"LGC\") is pleased to announce that it has completed its previously-announced private placement by issuing 5,000,000 additional units for gross proceeds of $750,000 at a second closing held today.\n\n\n \n \n\n \nAs a result, LGC raised a total of $3,730,773 in the private placement by issuing 24,871,822 units, each comprised of one common share and one common share purchase warrant; each warrant entitles 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.\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 and for working capital.\n\nAt the second closing, LGC paid a cash commission of $37,500 and issued 250,000 \"broker warrants\" to one person, representing 5% of the proceeds from the closing and 5% of the number of units issued at the closing, respectively. Each of the \"broker warrants\" entitles its holder to purchase one additional unit at a price of $0.15 for a period of 18 months from the closing date of the private placement.\n\nThe securities issued at the second closing are subject to a \"hold period\" which expires on April 8, 2018.\n\nThis news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, and these securities will not be offered or sold in any jurisdiction in which their offer or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"1933 Act\"), or any state securities laws of the United States. Accordingly, these securities will not...