By Devika Patel
Knoxville, Tenn., June 29 - LNG Energy Ltd. said it has completed a C$20.1 million private placement of special warrants.
The company sold 80,403,400 special warrants at C$0.25 apiece. The warrants are each convertible into 1.05 common shares.
The deal was conducted by lead agent Paradigm Capital Inc. along with a syndicate of agents that included GMP Securities LP.
Proceeds will be used for exploration and development, working capital and general corporate purposes.
LNG Energy is an oil and gas exploration company based in Vancouver, B.C.
| Issuer: | LNG Energy Ltd.
|
| Issue: | Special warrants
|
| Amount: | C$20,100,850
|
| Special warrants: | 80,403,400
|
| Price: | C$0.25
|
| Conversion ratio: | Into 1.05 shares
|
| Warrants: | No
|
| Agent: | Paradigm Capital Inc. (lead), GMP Securities LP
|
| Settlement date: | June 29
|
| Stock symbol: | TSX Venture: LNG
|
| Stock price: | C$0.255 at close June 28
|
| Market capitalization: | C$36 million
|
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