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LGC Capital to Close Over-subscribed Private Placement for $4.265 Million
LGC Capital to Close Over-subscribed Private Placement for $4.265 Million Canada N...
About this update from Elixxer Ltd.
[{"type":"text","content":"\n\n\n\nLGC Capital to Close Over-subscribed Private Placement for $4.265 Million\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\nMONTREAL, Nov. 28, 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. 28, 2017 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (\"LGC\") is pleased to announce that it has closed the subscription books for its previously-announced private placement at a price of $0.15 per unit and expects to complete the private placement in an amount of approximately $4.265 million this week. In light of demand, LGC increased the size of the private placement from the previously-announced maximum of $3.25 million.\n\n\n \n \n\n \nJohn McMullen, CEO of LGC stated, \"We at LGC Capital are very pleased with the global market response we have received throughout this capital raise. With these funds, LGC will now advance its global portfolio of businesses with our partners. These additional funds will help LGC to grow at a faster pace than we originally envisaged. We thank our new shareholders for their trust in LGC's management and our plan to expand the scope of businesses that we are looking to invest in globally.\"\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...