TSXV:ELXR.H - Post by User
Comment by
Elxrmanon Apr 09, 2020 9:33am
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Post# 30893473
RE:RE:ELXR owns ZERO shares in Freia
RE:RE:ELXR owns ZERO shares in Freia
MONTREAL, May 16, 2019 (GLOBE NEWSWIRE) -- LGC Capital Ltd. (TSXV: LG and OTC-QB: LGGCF) (LGC) is pleased to announce that it has entered into an investment agreement to acquire a 35% equity interest in the hemp-focused Italian pharmaceutical company, Freia Farmaceutici Srl (Freia). LGC and Freias existing shareholders have entered into an investment agreement whereby LGC will acquire a 35% equity interest in Freia for a total cash consideration of $4,847,033 CAD to be paid in three installments over the course of ten months. The investment agreement contains standard representations, warranties and covenants of the parties, and closing of the transaction is subject to standard closing conditions and final acceptance by the TSX Venture Exchange. LGC has also appointed members to Freias board of directors.