LGC Capital Ltd. Announces Change of Auditor and Filing of Financial Statements

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Symbol:TSXV: QBA

MONTREAL, Oct. 28, 2016 /CNW Telbec/ - LGC Capital Ltd. (TSXV: QBA) ("LGC Capital") announces that its Board of Directors has appointed Ernst & Young LLP, Chartered Professional Accountants, as LGC Capital's new auditor, replacing FBL LLP, Chartered Professional Accountants. LGC Capital will file a Notice of Change of Auditor and related documents in respect of the change under its profile on SEDAR at www.sedar.com.

LGC Capital also announces that it has filed on SEDAR unaudited consolidated interim financial statements of its wholly‑owned subsidiary Leni Gas Cuba Limited ("Leni Gas Cuba") for the three and nine-month periods ended June 30, 2016, and the audited financial statements of LGC Capital (formerly Knowlton Capital Inc.) for the fiscal year ended June 30, 2016. As a consequence of the reverse take-over involving Knowlton Capital Inc. and Leni Gas Cuba completed on July 12, 2016, and pursuant to securities legislation and accounting rules, the fiscal year end of LGC Capital was automatically changed from June 30 to the fiscal year of Leni Gas Cuba, being September 30.  Accordingly, the first consolidated financial statements of LGC Capital following the completion of the reverse take-over will be for the fiscal year ended September 30, 2016, which will include historical comparatives for Leni Gas Cuba only.

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

LGC has significant investments and joint ventures in international companies with Cuban ties, that are well positioned to grow with the Cuban economy. Sectors include the following: Oil and Gas, Sports Management, Consulting, Travel & Tourism, Events, TV & Film Production, Agricultural, Renewable Energy and Import & Export.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE LGC Capital Ltd

Please contact: Company & Media Contacts, Canada contact: Rafi Hazan, Secretary and Director, Tel.: [phone]; London Office contact: David Lenigas, Co-Chairman and Chief Executive Officer, Mazen Haddad, Co-Chairman, Anthony Samaha, Chief Financial Officer, Tel.: [phone]; Investor Relations Contact, Dave Burwell, The Howard Group Inc., Tel.: [phone], Toll Free: 1-888-221-0915, Email: [email protected]