/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./
TORONTO, Sept. 8, 2023 /CNW/ – LNG Energy Group Corp. (the “Company” or “LNG Energy“) is pleased to announce that, further to the Company’s press release dated August 15, 2023, it has received final approval from the TSX Venture Exchange (the “TSXV“) to list the common shares of LNG Energy (the “Common Shares“) and Common Share purchase warrants (the “Warrants“) on the TSXV as a Tier 1 Oil and Gas Extraction issuer. The TSXV issued the listing bulletin in respect of the Common Shares and Warrants on September 8, 2023 (the “Final Exchange Bulletin“). The Company’s Common Shares and Warrants will be delisted from the Canadian Securities Exchange at market close on September 11, 2023. Trading on the TSXV in respect of the Common Shares, under the symbol “LNGE”, and Warrants, under the symbol “LNGE.WT”, will commence at market open on September 12, 2023.
The total number of Common Shares issued and outstanding at listing will be 155,108,166 and the total number of Warrants issued and outstanding at listing will be 44,577,350. A total of 76,510,001 Common Shares and 27,964,000 Warrants held by principals will be subject to the TSXV’s Tier 1 Value escrow requirements, with 25% of the escrowed securities to be released at the date of the Final Exchange Bulletin, with an additional 25% of the total escrowed securities to be released, respectively, at the 6th, 12th and 18th month anniversaries of the date of the Final Exchange Bulletin.
About LNG Energy
The Company is focused on the acquisition and development of natural gas production and exploration assets in Latin America. For more information, please visit www.lngenergygroup.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements, and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often using phrases such as “expects”, “anticipates”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends”, or variations of such words and phrases, or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved, are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the delisting of the Common Shares and Warrants from the Canadian Securities Exchange and the commencement of trading of the Common Shares and Warrants on the TSXV. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include: general business, economic, competitive, political and social uncertainties; delay or failure to receive any necessary board, shareholder or regulatory approvals, factors may occur which impede or prevent LNG Energy’s future business plans; and other factors beyond the control of LNG Energy. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, LNG Energy assumes no obligation to update the forward-looking statements, whether they change as a result of new information, future events or otherwise, except as required by law.
SOURCE LNG Energy Group Corp.
Featured image: Depositphotos © Pictograph
