Mr. John McMullen reports

JAMAICAN MEDICAL CANNABIS COMPANY, GLOBAL CANNA LABS, RECEIVES CULTIVATOR'S LICENSE FROM JAMAICAN AUTHORITIES

LGC Capital Ltd. target Global Canna Labs Ltd. has now received its approvals from the Jamaican Cannabis Licensing Agency for its Tier 3 growing licence for its 270,000-square-foot facility within its 6.23-acre site in Montego Bay, Jamaica.

GCL's growing team is already on site and is preparing to start cultivation immediately. GCL will be planting 8,000 seedlings for its first cycle and its first harvest is expected in around 12 weeks. GCL is also commencing the expansion of its current growing facility in Montego Bay and is in late-stage negations for the acquisition of an additional 300 acres of land in Jamaica.

LGC is also pleased to announce that it has received conditional approval from the TSX Venture Exchange for its previously announced (see press release dated May 15, 2018) transaction with Global Canna Labs. Under the terms of the transaction, LGC will subscribe for a $2.5-million secured debenture, convertible into an initial 30-per-cent strategic interest in Global Canna Labs and will also acquire a 5-per-cent royalty on Global Canna Labs' net sales for $2.0-million, payable in shares of LGC. The terms have not changed from the news release issued on May 15, 2018.

Final TSX-V approval will be subject to the following conditions, inter alia, i) receipt by the TSX-V of satisfactory legal opinions and final documentation; ii) the setting up of controls and procedures to ensure that cannabis production is destined for the medical applications market; iii) the establishment of a continuing monitoring program to ensure that none of GLC's activities are in contravention with current money laundering legislation as well the Canadian Criminal Code.

John McMullen, chief executive officer of LGC, stated: "LGC Capital is pleased to be partnering with one of the only approved Tier 3 medical cannabis producers in Jamaica. Tier 3 is specifically granted for large-scale producers of over five acres in size. This is a very big milestone for LGC and Global Canna Labs. Global Canna Labs has proven it has the expertise to become a major force not only in Jamaica but in the global marketplace as well. I look forward to the rapid growth of the company and LGC will continue to support Global Canna Labs' efforts to supply a wide portfolio of organic medical cannabis products for both the domestic and global consumer."

Paul Glavine, president of Global Canna Labs, states: "I would like to thank the GCL and LGC teams for working endlessly toward achieving this milestone. We are very excited to begin production and developing a truly organic brand in Jamaica."

About LGC Capital Ltd.

LGC Capital is a Canadian incorporated public company whose objective is to become a diversified business group with core business divisions that provide shareholders with exposure to a diverse range of businesses, products and services, with an emphasis on significant investments in global medical cannabis sector.

We seek Safe Harbor.