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LGC Capital Provides an Update on its Private Placement and Binding Letter of Intent with Creso Pharma & Baltic Beer Company
LGC Capital Provides an Update on its Private Placement and Binding Letter of Intent with ...
About this update from Elixxer Ltd.
[{"type":"text","content":"\n\n\n\nLGC Capital Provides an Update on its Private Placement and Binding Letter of Intent with Creso Pharma & Baltic Beer Company\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\nLGC Capital Provides an Update on its Private Placement and Binding Letter of Intent with Creso Pharma & Baltic Beer Company\nCanada NewsWire\nMONTREAL, Nov. 30, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nMONTREAL, Nov. 30, 2017 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (\"LGC\") announces that it will close its previously-announced private placement of units, at an issue price of $0.15 per unit, in an amount of $3,727,872 in order to comply with the policies of the TSX Venture Exchange relating to the pricing of private placements, rather than in an amount of approximately $4.265 million as announced by LGC on November 28, 2017. LGC expects to complete the private placement this week.\n\n\n \n \n\n \nEach of the units to be issued by LGC 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\nLGC also wishes to provide an update on its previously-announced binding Letter of Intent with Creso Pharma Limited (Australia and Switzerland) and Baltic Beer Company Ltd (UK), to develop and marke...