LGC Capital announces $8,000,000 private placement from London based Arlington Capital Inc.

Published: January 27, 2019

LGC Capital announces $8,000,000 private placement from London based Arlington Capital Inc.

LGC Capital Ltd. has received a binding commitment from Arlington Capital Inc., a private London based investment company for a private placement of 80,000,000 common shares in the capital of LGC at a price of $0.10 per share for aggregate proceeds of $8,000,000.

John McMullen, CEO of LGC Capital stated, “We are pleased to welcome Arlington Capital as a strategic investor in our company. This funding significantly boosts our company’s balance sheet, and LGC is now fully funded to complete all of the cannabis acquisitions announced in 2018. Our focus will forthwith shift on driving revenues and revenue growth throughout 2019 from our growing footprint of cannabis investments throughout Canada, Australia, Jamaica and Europe. This funding will also allow LGC the necessary capital to consider significantly increasing our ownership in a number of our key investments and pursue new growth opportunities.”

Closing of this non-brokered private placement is subject to customary closing conditions including, but not limited to, approval from the TSX Venture Exchange. On closing of the private placement, LGC will pay a 3% finder’s fee to an arms-length third party. Upon closing of the private placement, Arlington Capital will become an insider as they will hold a greater than 10% in LGC and will be entitled to appoint a representative to its board of directors.

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