LGC Capital Ltd. (TSXV:LG) announced that it has entered into an investment agreement for a private placement of convertible loan for gross proceeds of CAD 2,940,000 and common share purchase warrants in an amount equal to 25% of the dollar amount of the advance divided by CAD 0.4465, being the volume weighted average trading price of shares during the five trading days ended December 29, 2017. The transaction will include participation from YA II PN, LTD., a fund managed by Yorkville Advisors Global LP and Cuart Investments PCC Limited. Each warrant will entitle its holder to acquire one common share at a price of CAD 0.70, representing 140% of its closing price on December 29, 2017, for a period of one year from the date of issuance. The loan carries an annual interest rate of 12% for a term of 12 months. The transaction is expected to close on or before January 31, 2018. The loan is convertible into common shares at the option of the lenders at a price per share equal to the lesser of (i) US $0.538 (CAD $0.675), representing the US dollar equivalent of 135% of the closing price of shares on the TSX Venture Exchange on December 29, 2017, and (ii) 90% percent of the lowest daily volume weighted average trading price of its shares during the five trading days immediately preceding the date of a conversion notice from the lenders, subject to a minimum conversion price of CAD $0.50. The securities issued are subject to TSX venture exchange approval. The company announced that it has received conditional approval from the TSX Venture Exchange.