LGC Capital Ltd. completes $3.73 million private placement

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Symbol: TSX-V: LG

MONTREAL, Dec. 7, 2017 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) ("LGC") is pleased to announce that it has completed its previously-announced private placement by issuing 5,000,000 additional units for gross proceeds of $750,000 at a second closing held today.

As a result, LGC raised a total of $3,730,773 in the private placement by issuing 24,871,822 units, each comprised of one common share and one common share purchase warrant; each warrant entitles its holder to acquire one additional LGC common share at a price of $0.25 for a period of 18 months from the closing date.

As previously announced, LGC will use the net proceeds from the private placement to meet its obligations within LGC's current cannabis investment portfolio and for working capital.

At the second closing, LGC paid a cash commission of $37,500 and issued 250,000 "broker warrants" to one person, representing 5% of the proceeds from the closing and 5% of the number of units issued at the closing, respectively. Each of the "broker warrants" entitles its holder to purchase one additional unit at a price of $0.15 for a period of 18 months from the closing date of the private placement.

The securities issued at the second closing are subject to a "hold period" which expires on April 8, 2018.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, and these securities will not be offered or sold in any jurisdiction in which their offer or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws of the United States. Accordingly, these securities will not be offered or sold to persons within the United States unless an exemption from the registration requirements of the 1933 Act and applicable state securities laws is available

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"), 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 has no obligation to update such statements, except to the extent required by applicable securities laws.

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SOURCE LGC Capital Ltd