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LGC Capital Ltd. Grants Stock Options and Amends 2016 Stock Option Plan
LGC Capital Ltd. Grants Stock Options and Amends 2016 Stock Option Plan Canada New...
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[{"type":"text","content":"\n\n\n\nLGC Capital Ltd. Grants Stock Options and Amends 2016 Stock Option Plan\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. 11, 2017\n\n\n\nSymbol: TSX-V: LG\n\n\n\nMONTREAL, Dec. 11, 2017 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (\"LGC\") announces that on December 8, 2017, its Board of Directors granted an aggregate of 5,250,000 stock options to six of LGC's directors and officers.  The stock options have an exercise price of $0.36, representing the closing price of LGC's shares on the TSX Venture Exchange on December 7, 2017, and a term of ten years.  The stock options were granted under LGC's 2016 Stock Option Plan.\n\nLGC also announces that its Board of Directors amended the 2016 Stock Option Plan on December 8, 2017 so as to increase the number of shares that can be issued thereunder to 58,946,726 shares, equal to 20% of the 294,733,632 common shares of LGC issued and outstanding following the recent completion by LGC of its $3.73 million private placement.  The increase represents 12,137,661 additional common shares.  The amendment to the 2016 Stock Option Plan is subject to approval of the TSX Venture Exchange and to shareholder approval, which LGC intends to seek at its next annual meeting.\n\nFollowing the amendment to the 2016 Stock Option Plan, the Board of Directors of LGC granted an aggregate of 9,750,000 additional stock options to six of LGC's directors and officers.  These additional stock options also have an exercise price of $0.36 and a term of ten years and were granted under LGC's 2016 Stock Option Plan, as amended.  The 9,750,000 stock options may not be exercised until such time, if any, as LGC acquires approval from the TSX Venture Exchange and shareholder approval for the amendment to the 2016 Stock Option Plan described in this press release.\n\nAbout LGC (http://www.lgc-capital.com)\n\nLGC Capital Ltd. is a Canadian incorporated public company listed on the TSX Venture Exchange (TSXV: LG). LGC's objective is to become a diversified busines...