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LGC Capital shares surge as it updates on Cuban trading joint venture

As reported in April this year, Groombridge inked an import deal for the delivery of construction equipment..

LGC Capital is focused on investing in Cuba..

Shares in LGC Capital Ltd (CVE:QBA) surged 16% on Thursday as it updated on progress of its Groombridge Trading Corp (GTC) joint venture.

As reported in April this year, Groombridge inked an import deal for the delivery of construction equipment, spare parts, equipment and food into Cuba in a contract worth $2.2mln.

Today, LGC said: "The shipments of equipment and industrial parts are now en route to Mariel, Cuba."

John McMullen, chief executive of LGC Capital, added that its investments in companies, which are focused on doing business with Cuba continue to do so without interference.

"We are very pleased with the ongoing growth and achievements with the team at GTC Corp. and will support their continued success with their Cuban partners."

Cuba and its relationship with the US has been in focus in  the last few days. President Trump on Friday said he was " cancelling the last administration completely one-sided deal with Cuba". But how this will really manifest itself is yet to be seen.

LGC Capital has significant investments and joint ventures in international companies with Cuban ties that are well positioned to grow in Cuba

Sectors include oil and gas, sports management,  travel and tourism, events, TV and film production, agriculture, renewable energy, and import and export.

Shares surged 16.67% to $0.035.

Quick facts: LGC Capital Ltd

Price: - CAD

Market: TSX-V
Market Cap: -

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