MONTREAL, July 14, 2016 /CNW Telbec/ - Jeremy Edelman announces that on July 12,
2016, he acquired 16,200,000 common shares (the "New Shares") and stock options in respect of 2,000,000 common shares
of LGC Capital Ltd. (the "Corporation") (TSXV: KWC‑H) in exchange for his shares and stock options, respectively, of
Leni Gas Cuba Ltd., in connection with a reverse take-over involving the Corporation (formerly Knowlton Capital Inc.) and Leni Gas
Cuba Ltd. (the "RTO").
Prior to a consolidation of the issued and outstanding common shares of the Corporation on July 12, 2016 on the basis of
one share for every 1.27795529 issued and outstanding shares of the Corporation (the "Share Consolidation") and the
subsequent closing of the RTO, Jeremy Edelman held 9,756,495 common shares of the Corporation, representing 20.95% of the
then-issued and outstanding shares.
Immediately after the Share Consolidation and subsequent closing of the RTO, Jeremy Edelman holds
23,834,457 common shares of the Corporation, representing approximately 10.18% of the issued and outstanding common shares, and
stock options in respect of 2,000,000 common shares of the Corporation. Assuming the exercise of the stock options held by
Mr. Edelman, he would hold 25,834,457 common shares of the Corporation, representing approximately 10.94% of the common shares of
the Corporation that would then be issued and outstanding.
As a result of the RTO, Mr. Edelman's shareholdings in the Corporation have decreased to approximately 10.18% from approximately
20.95%.
The common shares of the Corporation held by Mr. Edelman were consolidated pursuant to the Share Consolidation. Mr.
Edelman acquired ownership of the New Shares and stock options pursuant to the RTO. The New Shares were acquired at a deemed
price of $0.1277 per share.
In accordance with applicable securities laws, Mr. Edelman may, from time to time and at any time, acquire additional
common shares of the Corporation and/or other equity, debt or other securities or instruments (collectively, "Securities")
of the Corporation in the open market or otherwise, and he reserves the right to dispose of any or all of his Securities in the
open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities,
the whole depending on market conditions, the business and prospects of the Corporation and other relevant factors.
A copy of an early warning report filed by Mr. Edelman in connection with the RTO is available on SEDAR under the Corporation's
profile. This news release is issued under the early warning provisions of Canadian securities legislation.
SOURCE Knowlton Capital
