Mr. John McMullen reports

LGC CAPITAL PROVIDES STATUS UPDATE ON PRIVATE PLACEMENT WITH ARLINGTON CAPITAL LP

LGC Capital Ltd. is providing a status update in respect of its non-brokered private placement with Arlington Capital LP. As previously announced on May 2, 2019, the corporation closed a first tranche of the private placement for gross proceeds of $8-million. Pursuant to a second tranche of the private placement, Arlington will subscribe for an additional 24 million common shares of LGC at an issue price of 10 cents per share for additional gross proceeds of $2.4-million. The corporation now expects to close the second tranche of the private placement by the end of May.