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LGC Capital to Increase Strategic Interest in Australian Medical Cannabis Company - Little Green Pharma
LGC Capital to Increase Strategic Interest in Australian Medical Cannabis Company - Little...
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[{"type":"text","content":"\n\n\n\nLGC Capital to Increase Strategic Interest in 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, Jan. 22, 2018\n\n\n\n\n LGC Capital Ltd.\n Symbol: TSX-V: LG\n \n\n\n\nLGC to increase its strategic interest in Australian Medical Cannabis company Little Green Pharma to 14.99% by issuing 5,000,000 LGC shares.\nAustralian Government to allow the export of medicinal cannabis exports.\n\n\nMONTREAL, Jan. 22, 2018 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (\"LGC\") is pleased to announce that it has entered into a Binding Term Sheet with licenced Australian Medical Cannabis company Habi Pharma Pty Ltd of Perth, Australia, doing business as Little Green Pharma (\"Little Green Pharma\"), to increase LGC's strategic interest in Little Green Pharma from 11.91% to 14.99%.\n\n\n \n \n\n \nThe proposed increase to 14.99% will take LGC's interest in Little Green Pharma to just below the 15% threshold requiring approval from the Australian Foreign Investment Review Board.\n\nIncreasing LGC's interest in Little Green Pharma has been a top priority for LGC over the past few months, and even more so since the Australian Government announced on January 4, 2018 an important step for the development of the Australian medical cannabis sector by permitting the export of medicinal cannabis products from Australia.\n\nThe full statement from the Hon. Greg Hunt MP, Australian Minister for Health, is set out below and is also available at: http://www.health.gov.au/internet/ministers/publishing.nsf/Content/health-mediarel-yr2018-hunt003.htm \n\n\"Australian Government to allow medicinal cannabis exports (4 January 2018)\n\nIn an important step for the development of the medicinal cannabis sector and to secure long-term supplies for Australian patients, the Federal Government will permit the export of medicinal cannabis products.\n\nThis follows extensive consultation that was undertaken last year.\n\nOur top priority is to ensure a safe quality supply of medicinal cannabis for Australian pati...