LNG Energy arranges C$25 million private placement of special warrants

By Devika Patel

Knoxville, Tenn., April 23 - LNG Energy Ltd. announced the terms of a C$25 million private placement of special warrants.

The company will sell the special warrants, which are convertible into common shares, on a commercially reasonable basis.

Paradigm Capital Inc. will be the lead agent in a syndicate that includes GMP Securities LP. There is a C$5 million greenshoe.

Settlement is expected on May 19.

Proceeds will be used for exploration and development expenditures, working capital and general corporate purposes.

LNG Energy is an oil and gas exploration company based in Vancouver, B.C.

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