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LGC Capital, Ltd., announces Trichomed received its cultivation license from Health Canada for its new cannabis facility in Brownsburg, Quebec

MONTREAL, July 15, 2019 (GLOBE NEWSWIRE) -- LGC Capital Ltd. (TSX-V: LG / OTCQB: LGGCF)  

LGC Capital Ltd. (“LGC” or the “Company”), announces that Health Canada, on July 12th, awarded  Trichomed Corporation (Trichomed), its long awaited license to cultivate cannabis seeds and plants at its newly constructed facility in Brownsburg, Quebec. 

As per the terms of its agreement with Trichomed, LGC is, now entitled to convert the first ranking secured loan  it provided to Trichomed in December 2017 into  a 49% direct equity interest, and a five percent (5%) royalty of Trichomed’s net sales of cannabis and cannabis-related prodcuts which covers actual sales less any arm’s length third-party discounts, merchandise returns and rebates.  In addition as per the agreement, LGC is entitled to representation on Trichomed’s board.

For further information, please contact:
John McMullen, President
Tel: (416) 803-0698
john@lgc-capital.com

Mark Shinners, Chief Financial Officer
Tel: +44 7827 960971
mark@lgc-capital.com

Renmark Financial Communications Inc.
Melanie Barbeau: mbarbeau@renmarkfinancial.com
Media – Kellie Coppin: kcoppin@renmarkfinancial.com
Tel: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com

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.

Notice Regarding Forward Looking Statements
This press release may contain forward-looking statements with respect to LGC and their respective operations, strategy, investments, financial performance and condition. These statements can generally 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 most recent Discussion and Analysis  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 neither LGC nor Freia has any obligation to update such statements, except to the extent required by applicable securities laws.  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.