MONTREAL, July 14, 2016 /CNW Telbec/ - Mazen Haddad,
Co-Chairman and a director of LGC Capital Ltd. (the "Corporation") (TSXV: KWC‑H), announces that on July 12, 2016, he
acquired, directly or indirectly, an aggregate of 1,880,000 common shares of the Corporation (the "New Shares") in exchange
for his shares 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, Mazen Haddad held, directly or indirectly, 9,756,495 common shares of the Corporation,
representing 20.95% of the then-issued and outstanding shares, and stock options in respect of 1,333,775 common shares of the
Corporation. Assuming the exercise of the stock options held by Mr. Haddad, he would have held, directly or indirectly,
11,090,270 common shares of the Corporation, representing approximately 23.15% of the common shares of the Corporation that would
have then been issued and outstanding.
Immediately after the Share Consolidation and subsequent closing of the RTO, Mazen Haddad holds,
directly or indirectly, 9,514,457 common shares of the Corporation, representing approximately 4.07% of the issued and outstanding
common shares, and stock options in respect of 1,043,679 common shares of the Corporation. Assuming the exercise of the stock
options held by Mr. Haddad, he would hold, directly or indirectly, 10,558,136 common shares of the Corporation, representing
approximately 4.49% of the common shares of the Corporation that would then be issued and outstanding.
As a result of the RTO, Mr. Haddad's shareholdings in the Corporation have decreased to approximately 4.07% from approximately
20.95%.
The common shares and stock options of the Corporation held by Mr. Haddad were consolidated pursuant to the Share
Consolidation. Mr. Haddad acquired ownership of the New Shares 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. Haddad 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.
Mazen Haddad was previously Chairman of the Board, President and Chief Executive Officer of the
Corporation (formerly Knowlton Capital Inc.). Mr. Haddad is now Co-Chairman and a director of the Corporation.
A copy of an early warning report filed by Mr. Haddad 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
