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LGC Capital Signs Binding Term Sheet to Acquire Strategic Interest in Licenced Australian Medical Cannabis Company - Little Green Pharma
LGC Capital Signs Binding Term Sheet to Acquire Strategic Interest in Licenced Australian ...
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[{"type":"text","content":"\n\n\n\nLGC Capital Signs Binding Term Sheet to Acquire Strategic Interest in Licenced Australian Medical Cannabis Company - Little Green Pharma\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, Sept. 26, 2017\n\n\n\nLGC Capital Ltd.Symbol: TSX-V: LG\n\n\n\nMONTREAL, Sept. 26, 2017 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (\"LGC\") announces that it has entered into a binding term sheet with Habi Pharma Pty Ltd of Perth, Australia, doing business as \"Little Green Pharma\", which provides that LGC will acquire an initial strategic 4.99% interest in Little Green Pharma, one of the few licenced companies authorized to cultivate and produce Medical Cannabis within Australia. The binding term sheet provides that LGC has the option to increase its interest in Little Green Pharma to a maximum of 19.03%, subject to a number of conditions, including Australian Government regulatory approvals.\n\nLittle Green Pharma (www.lgpharma.com.au) has advised LGC that it plans to commence cultivation and production of one of the first clean locally-grown Medical Cannabis products for use solely within Australia, giving hope and relief to those suffering from certain debilitating illnesses.\n\nJohn McMullen, LGC's CEO, commented; \"This will be LGC's first investment into the legalized Medical Cannabis sector in the Asia-Pacific region. This will be an important investment initiative for LGC in the region as Little Green Pharma is one of the few companies in Australia licenced to cultivate and produce Medical Cannabis. Australia has now legalized the use of Medical Cannabis and Little Green Pharma plans to commence production shortly.\"\n\nFleta Solomon, Little Green Pharma's Managing Director, commented; \"We look forward to having LGC on board as a new strategic long-term shareholder in Little Green Pharma. LGC's support and funding will assist in providing the necessary working capital to allow Little Green Pharma to cultivate and produce our product range for Australian patients in the coming months.\"\n\nBinding Term Sheet\n\nThe binding term sheet bet...