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LGC Capital Ltd. merges cannabis and Bitcoin

The private cannabis company is delving into Bitcoin mining, reducing the cost of growing cannabis

Cannabis plant
Little Green Pharma will soon harvest the first commercial cannabis crop in Western Australia

LGC Capital Ltd(CVE:LG) CEO John McMullen met up with Proactive Investors on Tuesday to discuss some upcoming projects the private cannabis company has in store.

The investment holding company has private cannabis operations in Canada, Australia, Europe, Jamaica, and South Africa.

Tricho-Med Corp.the company's operation in Montreal, recently expanded to 2 million square feet with the potential for more acreage. The cannabis-growing phase will begin in 2019.

Global Canna Labs Ltd., a Jamaican cannabis company, currently has a six-acre operation with 27,000 square feet of greenhouses with the possibility of expanding to 50,000 square feet. 

The company is far into the licensing process and will begin cultivation of its first commercial crop in quarter two of this year. An on-site farm store and dispensary will be opened in Kingston by the end of the year.

Little Green Pharma, a private company based in Perth, Australia, will soon be harvesting its first crop. The company will be the first to cultivate medical cannabis in Western Australia.

Lastly, the cannabis company signed a letter of intent with Evolution Bank to break into Bitcoin mining.

"We'll have a Bitcoin and cannabis operation, which will actually reduce the cost of growing cannabis in a country where it’s been legal to consume cannabis-like products since 2013," said McMullen.

LGC Capital Ltd. has a market cap of C$51.83mln.

The company will be presenting at the New York City Microcap Conference on April 9 and 10.

Quick facts: LGC Capital Ltd

Price: - CAD

TSX-V:LG
Market: TSX-V
Market Cap: -
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LGC Capital Ltd closing cannabis production and crypto-currency mining deal

LGC Capital Ltd (CVE:LG) CEO John McMullen tells Proactive Investors the investment company specializing in legal medical cannabis is closing a deal with cryptocurrency business Evolution Bnk, based out of Italy. McMullen says Evolution Bnk has devised a novel way of combining a...

on 04/18/2018

2 min read