LGC Capital Ltd. (TSXV:LG) announced that it has entered into a bought deal private placement agreement with Cormark Securities Inc., the underwriter in the transaction, pursuant to which the underwriter has agreed to purchase 18,400,000 units of the company at a price of CAD 0.435 per unit for a gross proceeds of approximately CAD 8,004,000. Each unit shall consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price equal to CAD 0.49 for a period of 36 months following closing. If at any time following the date that is four months and one day from closing of the offering and prior to the expiry date of the warrants, the volume weighted average trading price of the common shares on the TSX Venture Exchange exceeds CAD 0.65 for 20 consecutive trading days, the company shall have the right to accelerate the expiry date of the warrants upon not less than 30 trading days’ notice. The company has also granted the underwriter an option to purchase up to an additional 25% of the offering at the offering price exercisable, in whole or in part, at any time up the closing of the offering. The offering is scheduled to close on February 16, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The securities issued by the company in the offering will be subject to a hold period of four months and one day in Canada from the closing date of the offering.