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.
FORWARD-LOOKING STATEMENTS
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