On March 4, 2019, LXRandCo, Inc. (TSX: LXR, LXR.WT), announced it had completed its previously announced non-brokered private placement to Toronto-based investment firm Gibraltar & Company, Inc., Gibraltar Brands, Inc. and Gibraltar Ventures Fund One Limited Partnership (which are insiders or affiliates of insiders of LXRandCo.) and Star Orange Enterprise Pte. Ltd., of an aggregate of 12,500,000 Class B Shares in the capital of the Company for gross proceeds of $5 million.
As a result of the private placement, Gibraltar and affiliates beneficially own, or control or direct, directly or indirectly shares representing 34.5% of the issued and outstanding shares of LXRandCo.
LXRandCo is an international omni-channel retailer of branded vintage luxury handbags and other personal luxury products.
Gowling WLG advised Gibraltar & Company with respect to this financing with a team that included Faran Umar-Khitab and Sachin Seth (corporate/M&A).
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