LGC Capital Ltd.
Symbol: TSX-V: LG
MONTREAL, Jan. 26, 2018 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) ("LGC") is pleased to confirm that it entered into an agreement with OCI Inc. of Toronto, Ontario in June 2017 whereby OCI provides advice to LGC on strategic alternatives and assists LGC in the execution of its strategic plan for certain international markets.
The agreement provides for partial payment by LGC of OCI's monthly advisory fee in shares. In that regard, for the five months from July to November 2017, inclusively, LGC will pay an aggregate amount of $40,000 to OCI through an issuance of 94,339 shares at a deemed issue price of $0.424 per share, representing the closing price of LGC's shares on the TSX Venture Exchange ("TSXV") today ($0.53), less a 20% discount permitted by the TSXV. For December 2017, LGC will issue 21,333 shares in payment of $8,000 of OCI's monthly fee at a deemed price of $0.375 per share, representing the closing price of LGC's shares on the last trading day of December ($0.50) less a 25% discount. For January 2018 and future months, LGC will issue shares in payment of $8,000 of OCI's monthly fee at a deemed price equal to the last closing price of LGC's shares for the month on the TSXV, less the applicable maximum discount permitted by the TSXV. In compliance with the policies of the TSXV, LGC will issue a press release announcing each share issuance to OCI. The various share issuances are subject to regulatory approval, including that of the TSXV.
About LGC (http://www.lgc-capital.com)
LGC Capital Ltd. is a Canadian incorporated public company listed on the TSX Venture Exchange (TSXV: LG). LGC's objective is to become a diversified business group with core business divisions that provide shareholders with exposure to a diverse range of businesses, products and services.
This press release may contain forward-looking statements with respect to LGC Capital Ltd. ("LGC") and its operations, strategy, investments, financial performance and condition. These statements generally can be identified by use of forward- looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of LGC could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, government regulation and the factors described under "Risk Factors and Risk Management" in LGC's Management's Discussion and Analysis for the fiscal year ended September 30, 2016, as filed on SEDAR (www.sedar.com). The cautionary statements qualify all forward-looking statements attributable to LGC and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and LGC does not have any obligation to update such statements, except to the extent required by applicable securities laws.
Caution Regarding Press Releases
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE LGC Capital Ltd
For further information: John McMullen, Chief Executive Officer, Tel.: (416) 803-0698, Email: [email protected]; London contact: Anthony Samaha, Chief Financial Officer, Tel.: +44 (0) 20 7440 0640; Investor Relations: Dave Burwell, The Howard Group Inc., Tel.: (403) 221-9015, Toll Free: 1-888-221-0915, Email: [email protected]