LGC Capital Gives Update on Jamaican Proposed Investment

LGC Capital (TSXV:LG) announced the completion of on-site inspection of the Jamaican Global Canna Labs facilities it plans to invest in.

As quoted in the press release:

Senior LGC management has now completed an on-site inspection of the Global Canna Labs’ facilities in Montego Bay, Jamaica, as part of the investment due diligence process.

Greenhouse frames are installed for the first 28,000 sq. feet with all materials now on site to complete the initial 58,000 sq. feet build-out to full operating status. Installation of the greenhouse irrigation system has commenced, and the 6-acre security fencing and the security CCTV network is now fully operational. (See Figures 1 and 2)

LGC considers that the timelines for Global Canna Labs converting its conditional Cultivator’s Licence (Tier 3) (over 5 acres) to a full unconditional Cultivator’s Licence and the planting of its first commercial crop by April 1, 2018 are achievable and may be completed before that date.

Click here to read the full press release.

Source: www.newswire.ca