MONTRÉAL, July 16, 2019 (GLOBE NEWSWIRE) -- LGC Capital Ltd. (TSX-V: LG / OTCQB: LGGCF) wishes to announce that it is changing its financial year-end to December 31 from its current year-end of September 30. As a result, LGC will file an additional interim report as at September 30, 2019 and will report audited financial results for a 15-month transition year from October 1, 2018 to December 31, 2019 (with a comparative of the 12 months ended September 30, 2018). Afterwards, LGC will revert to a customary reporting calendar based on a December 31 year-end, with fiscal quarters ending on the last day of March, June, September and December each year.
LGC believes this change of financial year-end will allow it to complete the audit requirements of its investee companies with greater efficiency and will be useful to consolidate other companies in the future.
The notice for the change in financial year-end required under Regulation 51-102 respecting Continuous Disclosure Obligations will be filed under the Company's profile at www.sedar.com.
LGC is also pleased to announce that, in addition to investor relations as announced on May 31, 2019, it has retained the services of Renmark Financial Communications Inc. to handle its media relations.
"We are pleased to announce that we have selected Renmark's recognized media team to reinforce LGC Capital Ltd.'s profile in the financial media and enhance the visibility of our company. We choose Renmark's media team because its standards and methodologies fit best with the message we wish to communicate to the investing public," noted John McMullen, President.
In consideration of the services to be provided, the monthly fees incurred by LGC Capital Ltd. will be a cash consideration of up to $3,500 CAD, starting June 1, 2019 for a period of six months ending on November 30, 2019 and monthly thereafter.
Renmark Financial Communications does not have any interest, directly or indirectly, in LGC Capital Ltd. or its securities, or any right or intent to acquire such an interest
For further information, please contact:
John McMullen, President
Tel:
Mark Shinners, Chief Financial Officer
Tel: +44 7827 960971
mark@lgc-capital.com
Renmark Financial Communications Inc.
Melanie Barbeau: mbarbeau@renmarkfinancial.com
Media - Kellie Coppin: kcoppin@renmarkfinancial.com
Tel:
Caution Regarding Press Releases
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward Looking Statements
This press release may contain forward-looking statements with respect to LGC and their respective operations, strategy, investments, financial performance and condition. These statements can generally be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of LGC could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, government regulation and the factors described under "Risk Factors and Risk Management" in LGC's Management's most recent Discussion and Analysis filed on SEDAR (www.sedar.com). The cautionary statements qualify all forward-looking statements attributable to LGC and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and LGC has no obligation to update such statements, except to the extent required by applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
