MONTREAL, July 14, 2016 /CNW Telbec/ - David Lenigas, Co-Chairman, Chief Executive Officer and a director of LGC Capital Ltd. (the "Corporation") (TSXV: KWC‑H), announces that on July 12, 2016, he acquired, directly or indirectly, an aggregate of 57,200,000 common shares (the "New Shares") and stock options in respect of 8,000,000 common shares of the Corporation in exchange for his shares and stock options, respectively, of Leni Gas Cuba Ltd., in connection with a reverse take-over involving the Corporation (formerly Knowlton Capital Inc.) and Leni Gas Cuba Ltd. (the "RTO").
Immediately prior to the closing of the RTO, David Lenigas did not hold any shares of the Corporation. Immediately after the closing of the RTO, David Lenigas holds, directly or indirectly, 57,200,000 common shares of the Corporation, representing approximately 24.44% of the issued and outstanding common shares, and stock options in respect of 8,000,000 common shares of the Corporation. Assuming the exercise of the stock options held by Mr. Lenigas, he would hold, directly or indirectly, 65,200,000 common shares of the Corporation, representing approximately 26.94% of the common shares of the Corporation that would then be issued and outstanding.
Mr. Lenigas acquired ownership of the New Shares and stock options pursuant to the RTO. The New Shares were acquired at a deemed price of $0.1277 per share.
In accordance with applicable securities laws, Mr. Lenigas may, from time to time and at any time, acquire additional common shares of the Corporation and/or other equity, debt or other securities or instruments (collectively, "Securities") of the Corporation in the open market or otherwise, and he reserves the right to dispose of any or all of his Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Corporation and other relevant factors.
A copy of an early warning report filed by Mr. Lenigas in connection with the RTO is available on SEDAR under the Corporation's profile. This news release is issued under the early warning provisions of Canadian securities legislation.
SOURCE Knowlton Capital
For further information: To obtain a copy of the early warning report filed by David Lenigas, please contact: Sébastien Bellefleur, Fasken Martineau DuMoulin LLP, 800 Square Victoria, Suite 3700, Montreal, Québec, H4Z 1E9, Telephone: (514) 397-7445