LGC CAPITAL announces closing of a first tranche of its $10.4 million financing and appointment of Arlington Capital CEO, Ferras Zalt, to LGC’s board of directors
May 2nd, 2019
MONTREAL, May 02, 2019 (GLOBE NEWSWIRE) — LGC Capital Ltd. (TSXV: LG) (OTCQB: LGGCF) (“LGC” or the “Corporation”) is pleased to announce that it has now closed the first tranche of its previously announced $10.4 million non-brokered private placement financing with Arlington Capital LP. The Corporation has issued a total of 80,000,000 commons shares at an issue price of $0.10 per share for gross proceeds of $8,000,000. The shares issued to Arlington Capital are subject to a four-month hold period. The second tranche of the private placement is expected to close shortly.
LGC is also very pleased to announce that Ferras Zalt has been appointed as the Corporation’s Chairman of the Board and will formally assume the role at LGC’s upcoming annual meeting of shareholders on May 22, 2019. Mr. Zalt has over 30 years of leadership and entrepreneurial experience. He has had a successful career founding and investing in early stage companies, while supporting them as they achieve success. His leadership style, vision and reputation in the global investment community, has provided significant returns for shareholders achieved significant valuation growth and several fold returns on investment to shareholders in the companies in which he has been involved.
Early in Ferras’ career, he held positions at the NASA Space Agency, and Compaq Corp in the USA. In 1995, Ferras founded Softech, an IT consultancy business with a focus on the energy sector to capitalise on the need for specialist IT technical services particularly in Oil and Gas sector. Softech grew rapidly and went on to deliver the largest SAP installation in the world at the time for Saudi Aramco. In 2001, Ferras sold the company to Atos Origin achieving several fold returns on invested capital and remained on as CEO to drive the business to further success. In 2005, as a result of a global repositioning strategy, Ferras had the opportunity to lead a management buyout of the company and within two years sold the company to Hewlett Packard, achieving significant returns to investors. In 2010, Ferras led an investment management buyout in Gulf Energy, an Oil and Gas full service company. In three years, he sold the investment achieving healthy returns. In the past five years, Ferras has been developing the Energy from Waste project in the UK. Ferras holds a Bachelor’s in Computer Science and Mathematics.
Mr. Zalt commented, “I see tremendous potential within the LGC group and look forward to being very active in the future growth of this company. I feel very confident that our investment in LGC will result in very strong returns for us and its investors. I look forward to working with Mazen Haddad and the entire team at LGC.”
Mazen Haddad, CEO of LGC stated, “I’m delighted that Ferras has now joined LGC’s board of directors Ferras will bring another layer of guidance, financial access and knowledge that I believe ensures LGC’s success.”
For further information please contact:
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.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
Follow Us on Social Media
About CFN Media Group
CFN Media Group (CannabisFN), owned and operated by CFN Enterprises Inc. (OTCQB: CNFN), is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
CFN launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.