LGC CAPITAL Ltd. is providing a status update in respect of its non-brokered private placement with Arlington Capital LP (“Arlington”). As previously announced on May 2, 2019, the Corporation closed a first tranche of the private placement for gross proceeds of $8 million. Pursuant to a second tranche of the private placement, Arlington will subscribe for an additional 24,000,000 common shares of LGC at an issue price of $0.10 per share for additional gross proceeds of $2.4 million. The Corporation now expects to close the second tranche of the private placement by the end of May.
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