Zenith Energy Share Discussion Threads

[cpap man] 18/8/2017 19:30

TSXV:QBA



LGC Capital Ltd. announces $1,555,000.00 private placement to advance the company's medical cannabis initiatives



LGC Capital Ltd. (TSXV: QBA) ("LGC") is pleased to announce that it has received conditional approval from the TSX Venture Exchange for a private placement of a maximum of 30,000,000 units at a price of $0.10 per unit, for maximum gross proceeds to LGC of $3.0 million. To date, LGC has received signed subscription agreements and subscription funds for an aggregate amount of $1,555,000, which represents 15,550,000 units. Of that amount, senior management is contributing $300,000. LGC expects that a first closing of the private placement will take place on or about August 24, 2017.

John McMullen, LGC's CEO, comments: "LGC will use the net proceeds from this private placement to advance the Company's new initiatives in the global medical cannabis sector and for general working capital purposes. In particular, some of the capital raised will be used to assist with the funding of our new joint venture with AfriAg (Pty) Ltd and our recent investment in the House of Hemp (Pty) Ltd in South Africa. Funding will also be channeled towards seeking new medical cannabis investment opportunities elsewhere in southern Africa and in the Asia Pacific Region."

Each of the units will be comprised of one common share and one common share purchase warrant; each warrant will entitle its holder to acquire one additional LGC common share at a price of $0.15 for a period of one year from the closing date. In the event that the closing price of LGC's common shares on the TSX Venture Exchange is at least $0.20 for a period of not less than 20 consecutive trading days, the warrants will expire, at the sole discretion of LGC, on the 30th day after the date on which LGC sends a notice in prescribed form to the holders of the warrants.

The units are being offered to "accredited investors" in some or all of the provinces of Canada and in other jurisdictions, if any, determined by LGC.

At the closing of the private placement, LGC will pay cash commissions to various securities dealers in an amount equal to 8% of the proceeds from the sale of units sold through such dealers. In addition, LGC will issue "broker warrants" to such dealers in an amount equal to 8% of the number of units sold through them. Each of the broker warrants will entitle the holder to purchase one additional LGC common share at a price of $0.10 for a period of six months from the closing date of the private placement.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, and these securities will not be offered or sold in any jurisdiction in which their offer or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws of the United States. Accordingly, these securities will not be offered or sold to persons within the United States unless an exemption from the registration requirements of the 1933 Act and applicable state securities laws is available.

About LGC (hxxp://www.lgc-capital.com)
LGC Capital Ltd. is a Canadian incorporated public company listed on the TSX Venture Exchange (TSXV: QBA). LGC Capital's objective is to become a diversified business group with core business divisions that provide shareholders with exposure to a diverse range of businesses, products and services, many of which have some exposure to high growth Cuban business opportunities and some that have no exposure to Cuba at all. LGC Capital has now entered into the agricultural space and the medical cannabis sector in southern Africa through its new joint venture with AfriAg and is seeking new investments opportunities in this sector.

[cpap man] 18/8/2017 19:29

TSXV:QBA

About LGC (hxxp://www.lgc-capital.com)

PREMIUM PLACING

[ravin146] 18/8/2017 10:50

Well not even have a presentation published...poor PR here no doubt now

[cashandcard] 18/8/2017 10:27

This is what I mean, That Manchester presentation was pretty pointless. They need to present in London after a serious result has come in. That's where the deep pockets are. Presenting up north (unless in Aberdeen) is useless.


Cash

[ravin146] 17/8/2017 14:21

Should we expect production number tomorrow or monday?

Fri should have been at site...we've been told by CEO its a 24/7 workforce...hence 6-7 days to install and test?

[sea7] 16/8/2017 20:38

Ravin,

As an investor I am optimistic about the companies I buy into, however, I am also sceptical and pessimistic at the same time. I find this dual approach helps to maintain a healthy balanced view on a stock, so I do not have rose tinted specs on!!

I rarely trust timescales and only believe it when I see it rns'd that the job is done.

My healthy scepticism is most probably because I have spent ten years primarily investing in aim listed stocks. zen is one of the few stocks I have researched and taken a position in, that is not listed on aim.

It is also why I tend to have a bit of a jaded view of CEO's and their charm offensives at presentations.

What attracted me to zen... well it is a good opportunity, has a good plan and is producing cash.

It acts like an aim stock, trades like one and communication has been like an aim stock up until recently, so I generally treat it like one. Not that Andrea would be overly happy to being compared with some of the aim market casino stocks

zen is slowly getting its act together with communication and slowly it will start acting like a main market stock. They need to get some traction under foot with regards to the workover program, otherwise they will end up with a few other attributes that a lot of aim stocks suffer with and that is illiquidity and an ever decreasing share price, coupled with ever lower priced share issuance, followed by the Darwin/Henderson/ya global convertible loans, which equate to the death spiral.

[ravin146] 16/8/2017 20:01

Sea7,This is my exact point that you phrased."As Andrea has given out timeframes and raised expectations that have not been delivered on, the sentiment towards zenith is low at the moment."Sea7 you need to get a job at ZEN head of communication, if you already aren't working for them!

[sea7] 16/8/2017 18:54

Just because it hadn't been delivered at that time, it did not mean that it wasn't going to be installed when they expected. Once the communication was released with a rough estimate of when they expected installation, they cannot take it back. If events
afterwards change the situation then they will look at it, to see if they need to
inform the market or not. As they only committed to an expectation then no further communication was necessary about the slippage of an expected timeframe.


Whilst a share price can sometimes, loosely reflect the value of a company, it is more often than not a barometer of sentiment. As Andrea has given out timeframes and raised expectations that have not been delivered on, the sentiment towards zenith is low at the moment.

They are delivering slowly on the plans and the share price will appreciate accordingly, when the time is right.

[ravin146] 16/8/2017 18:09

Sea7,You are missing my point, no company will give an exact legal binding deadline lol...unless regulatory. All companies say we expect drilling to be completed in x weeks, pipeline to be placed by x quarter.The key phrase was: "expected to be installed"...it had not even been "delivered"!Let's leave it there. Deadline and expectations have been missed, the share price doesn't usually lie in my experience.But I have faith that this is a medium term unfolding story, with pleasant surprises and a happy ending to the first chapter: workovers to reach 1000!

[sea7] 16/8/2017 17:56

"expected" is the word used ravin, it wasn't a definitive, set in stone, date and time.

I had that week in mind, however, kept it in perspective that it was expected to be, which means "maybe"

[ravin146] 16/8/2017 17:13

Sea7,RNS 3rd of July:"The Company will test the well using compressed gas to obtain the necessary parameters to design the optimal Electric Submersible Pump (ESP) for M-45. The ESP is expected to be installed in the third week of July."Need I give any more examples?Btw I am just trying to give a view on things, maybe how others feel too.Not going to bore everyone again, but just give us a result.I hope they get it right, for everyone's interests.Tc

[sea7] 16/8/2017 16:55

ravin,

What Andrea said in a podcast is no reflection on Mike's ability to communicate what needs to be said to Andrea. Whether Andrea chooses to reflect Mike's views subsequently is Andrea's decision. What I said is correct as it refers to Mike Palmer.

You will have noted that since Mike has taken over day to day running, Andrea's deadline promises and other over promising has steadily declined to the point where we haven't heard him bigging things up at all.

I prefer an experienced oil man running oil companies on the ground. If an exec is chosen to front the company with regards to London Markets, then there are plenty around who have a background in the O and G sector to choose from. What cost would that be though on the balance sheet in the form of a salary. Andrea is a self made man and is heading up this company and will not be going anywhere, anytime soon.

This project in azer is only just getting going and whilst they are missing targets and deadlines, the solution is not to get peoples expectations up and be more realistic with timescales.

[ravin146] 16/8/2017 16:50

Cash slightly harsh, would rather have Andrea continue to running the show than any other tbh, prob needs more support from the BoD!It just need to cut the bull, deliver the FIRST workover result!

[cashandcard] 16/8/2017 16:40

There are plenty of deadlines which had been communicated only to be missed. Remember the infamous twitter video with AC in the snow several months back saying they would have a result on M195 in 5 days?

AC is a lovely guy, but its about time he took a backseat and let an exec, well experienced in London markets, run the company.


Cash

[ravin146] 16/8/2017 16:34

Sea7,Not entirely correct."He is perfectly capable of communicating what needs to be said to Andrea, for public dissemination."The RNS on the 23rd of June stated a issue with well 195...a week before the CEO gave the impression on a podcast, that everything was in line for well 195.Correct me if a am wrong, happy dig up old convos too

[sea7] 16/8/2017 15:51

I would prefer mike to stay at the operation and focus on the job in hand, not go jetting off to some other part of the world to talk about the project. He is perfectly capable of communicating what needs to be said to Andrea, for public dissemination.

[sea7] 16/8/2017 15:20

I think we all want to see one workover completed and on production, with the teams having left to start on another.

[cashandcard] 16/8/2017 15:10

ravin,


Re twitter, perhaps I'm not taking the importance of that into account. I just prefer ample clear communications through the official channels. I have seen things hyped up on twitter which gives a distorted picture. Simply because twitter does not have to comply with official market rules, things can get a bit rose-tinted.

Also, they need to do presentations in London. It may not be their event, but they should be booking the rounds in London - as and when they can.

We are still to see a single completed workover...


Cash

[ravin146] 16/8/2017 15:03

Guys please start using this BB.Scotty is kindly moderating it so less spamming here!Btw cashcard, agree with all the points except twitter.Twitter is the way forward for especially AIM companies to filter non-reg news to investors quickly.E.g. A very simple picture to reassure investors that the ESP for well 45 is onsite...its free and no cost to do so.As for the presentation, I don't actually think it's ZENs event, they just attend it and present.Cassopia/thefox runs it imo. Not sure if there is any investment by them too?!

[cpap man] 16/8/2017 14:35

TSXV:REG



Wonder how TSXV:REG will go today over in Canada?!?!?