Mr.
John McMullen reports
LGC CAPITAL, LTD., ANNOUNCES TRICHOMED RECEIVED ITS CULTIVATION LICENSE FROM HEALTH CANADA FOR ITS NEW CANNABIS FACILITY IN BROWNSBURG, QUEBEC
LGC Capital Ltd. loanee Trichomed Corp. received a licence from Health Canada, on July 12, to cultivate cannabis seeds and plants at its newly constructed facility in Brownsburg, Que.
As per the terms of its agreement with Trichomed, LGC is now entitled to convert the first ranking secured loan it provided to Trichomed in December, 2017, into a 49-per-cent direct equity interest and a 5-per-cent royalty of Trichomed's net sales of cannabis and cannabis-related products, which covers actual sales less any arm's-length third party discounts, merchandise returns and rebates. In addition, as per the agreement, LGC is entitled to representation on Trichomed's board.
We seek Safe Harbor.
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