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LGC Capital Reaches Significant Milestone in Closing Process of its Investment in Swiss Cannabis Producer, Viridi Unit SA
LGC Capital Reaches Significant Milestone in Closing Process of its Investment in Swiss Ca...
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[{"type":"text","content":"\n\n\n\nLGC Capital Reaches Significant Milestone in Closing Process of its Investment in Swiss Cannabis Producer, Viridi Unit SA\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\nMONTRÉAL, Oct. 29, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./                    \nLGC Capital submits definitive documentation to TSX-Venture for regulatory approval of its Viridi Unit transaction. Viridi successfully harvests 20,000 high-CBD cannabis plants for distribution of their cannabis flower and cosmetic products throughout Switzerland and Europe. Europe is a rapidly growing and underserviced market for legal cannabis products and Viridi provides LGC Capital direct access in to Europe. MONTRÉAL, Oct. 29, 2018 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) and (OTC-PINK: LGGCF) (\"LGC\") is pleased to announce that it has submitted definitive  documentation to the TSX Venture Exchange (the \"TSX-V) in respect of its investment in Swiss cannabis producer, Viridi Unit SA (\"Viridi\"), for regulatory approval.  Submission of the documentation to the TSX-V represents a significant milestone in the closing process of the transaction. Closing of the transaction is now only subject to TSX-V approval.\n\n \n \n\n \nViridi's Market Presence in Switzerland and Europe\nEarlier this month, LGC announced that Viridi is in the process of harvesting and processing 20,000 plants that were growing at their Geneva cannabis cultivation facility, consisting of 108,000 square feet of canopy space.\nThese plants are expected to yield approximately 3,000 kg of dried cannabis flowers from this current crop for sale within Switzerland. Viridi Unit's high-CBD dry cannabis products are sold under the ØNΞ Premium Cannabis brand in over 100 retail locations across Switzerland.\nLGC Capital's Investment in Viridi\nOn August 1, 2018, LGC announced a binding agreement to acquire a 30% int...