FACTS ... LGC Capital to acquire 30% of Viridi
2018-08-01 08:08 PT - News Release ($0.125)
Under the terms of the agreement, LGC will acquire its 30-per-cent interest through the issuance to Viridi of that number of common shares of LGC for a value corresponding to three million Swiss francs ($3,940,498.91). The exact number of shares to be issued will be based on the five-day volume-weighted average price of LGC common shares immediately prior to the closing date. It is estimated that the shares to be issued will represent less than 10 per cent of the number of currently outstanding LGC shares.
The number of shares o/s at the time of this NR were 357,839,734
10% = 35,783,973
SP = $0.11
Still confused as to why SP is down at these levels?
Let us not forget EasyJoint ..................................
LGC Capital to acquire 47% of EasyJoint for $7.15M
2018-11-12 08:58 PT - News Release ($0.15)
payment in common shares for a value of 2,223,000 euros ($3,321,162 (Canadian)) in the share capital of LGC at a price per share set at 85 per cent of the five-day volume weighted average price of LGC shares immediately prior to the closing of the transaction (26,152,941 shares at current prices) 85% of today's SP = $0.085!
Current shares o/s = 380,288,641
+ Viridi .............. 35,000,000 (est - current SP)
+ EasyJoint ........ 39,000,000 (est - current SP)
454,288,641
PLUS:
jan 21/19 - 15,854,141 shares @ $0.12615 off hold
feb 8/19 - 5,871,528 shares @ $0.50 min conversion; if lender decides to pass then LG must repay $2.34M US
LG already sits @ a cash deficit after commitments. If they would disclose how much they have brought in from warrants that might change BUT they refuse to disclose these details.
Anybody still confused as to WHY the SP is where it is at? Some people are saying they are following the 'big guys' BUT anyone following canna since 2014 would know that this is not what the 'big guys' did.