MONTRÉAL, Sept. 25, 2015 /CNW Telbec/ - Lloyd I. Miller, III, the managing member of Milfam II L.P. ("M2"), acquired on September 24, 2015, ownership of 126,000 common shares (the "Common Shares") of LGX Oil + Gas Inc. ("LGX") (TSXV: OIL). The Common Shares were acquired through the facilities of the Toronto Stock Exchange a price of US$0.042 per common share or approximately CDN$0.056 per common share (based on the Noon Bank of Canada exchange rate), such common shares representing approximately 0.14% of the currently issued and outstanding common shares of LGX.
As a result of the acquisition of the Common Shares, Mr. Miller, through M2 and a number of trusts, partnerships and other entities, owns or has control or direction over an aggregate of 8,923,000 common shares of LGX, representing approximately 10.06% of the issued and outstanding common shares.
The Common Shares were acquired for investment purposes only. Depending on the evolution of LGX's business, financial condition, the market for LGX securities, general economic conditions and other factors, Mr. Miller and his joint actors may acquire additional securities of LGX, or sell some or all of the securities they hold, in the open market, by private agreement or otherwise, subject to their availability at attractive prices, market conditions and other relevant factors.
For inquiries or a copy of the related early warning report required under Canadian provincial securities legislation, a copy of which has also been filed on www.sedar.com, please contact:
SOURCE LLOYD I. MILLER, III
For further information: Lloyd I. Miller, III, 3300 South Dixie Highway, Suite 1-365, West Palm Beach, Florida, USA 33405, Telephone: (561) 287-5399; Eric Fangmann, 3300 South Dixie Highway Suite 1-365, West Palm Beach, Florida, USA 33405, Telephone: (561) 287-5399