March 12, 2018 / 5:59 PM / in 5 months

BRIEF-LGC Says To Expand Into Italy With Investment In Evolution Bnk

March 12 (Reuters) - LGC Capital Ltd:

* LGC TO EXPAND INTO ITALY WITH INVESTMENT IN EVOLUTION BNK, AN EMERGING CANNABIS GROWER

* LGC - ‍SIGNING OF LOI WITH EVOLUTION BNK FOR SECURED LOAN BY LGC OF EUR 3 MILLION CONVERTIBLE IN SOME CONDITIONS INTO 49% EQUITY INTEREST IN EVOLUTION BNK​

* LGC CAPITAL LTD - LOI ALSO PROVIDES THAT LGC WILL ACQUIRE A 5% ROYALTY ON EVOLUTION BNK’S NET SALES

* LGC CAPITAL - LOAN TO HAVE 4-YEAR TERM, BEAR INTEREST AT ANNUAL RATE OF 10%, BE SECURED BY FIRST-RANKING SECURITY ON ALL ASSETS OF EVOLUTION BNK Source text for Eikon: Further company coverage:

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