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LGC Capital provides positive update on House of Hemp (Pty) Ltd in South Africa with Support from Dube TradePort and Trade & Investment KwaZulu-Natal
LGC Capital provides positive update on House of Hemp (Pty) Ltd in South Africa with Suppo...
About this update from Elixxer Ltd.
[{"type":"text","content":"\n\n\n\nLGC Capital provides positive update on House of Hemp (Pty) Ltd in South Africa with Support from Dube TradePort and Trade & Investment KwaZulu-Natal\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\nLGC Capital provides positive update on House of Hemp (Pty) Ltd in South Africa with Support from Dube TradePort and Trade & Investment KwaZulu-Natal\nCanada NewsWire\nMONTREAL, Dec. 20, 2017\n\n\n\nMONTREAL, Dec. 20, 2017 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (\"LGC\") is pleased to provide the positive update regarding LGC's ongoing due diligence currently conducted on the proposed 60% acquisition of the House of Hemp (Pty) Ltd (\"House of Hemp\") in South Africa, under the agreements previously announced on July 18, 2017, and the onsite inspection of the 424,000 square feet of fully operational glasshouses and support facilities at Dube TradePort AgriZone Block \"D\" located at Durban's International Airport.  \n\n\n \n \n\n \nLGC and House of Hemp are also pleased to report the strong support and assistance received from Dube TradePort (\"Dube\") and Trade & Investment KwaZulu-Natal (\"TIKZN\") for this exciting new agricultural and processing venture in the region.\n\nLGC and AfriAg (Pty) Ltd (LGC's 50/50 partner in this venture) have been working closely with the House of Hemp's senior management and advisors during this extensive due diligence period since the Company announced this proposed acquisition in July 2017.  Due diligence is progressing well and on track, and all parties are working to secure the upgraded permits necessary to commence, research, cultivation and commercial production of Medical Cannabis within the new proposed Medical Controls Council (MCC) guidelines which were finally released in November 2017. This transaction is subject to completion of satisfactory due diligence and TSX Venture Exchange approvals.\n\nJohn McMullen, CEO of LGC stated;\n\n\"Our due diligence is proceeding very well, on schedule, to plan and we are very excited about the potential of this project to add significant value to LGC sharehol...