TORONTO, July 26, 2024 (GLOBE NEWSWIRE) -- LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FRA: 6MH) (the "Company" or "LNG Energy Group") announced today the following shareholder alignment initiatives:
Shareholder Alignment Initiatives
The Company is pleased to announce that Oak Hill Financial Inc. ("Oak Hill"), an advisory firm to the Company, has agreed to settle certain advisory fees owed to them in common shares in the capital of the Company ("Common Shares"). Oak Hill has agreed to receive 216,960 Common Shares at a deemed price of $0.50 per share to settle $108,480 of advisory fees. The Common Shares issued to Oak Hill shall be subject to a monthly release schedule whereby the Common Shares will be released in ten monthly tranches to Oak Hill.
DSU and Options
In connection with the year-end annual equity grants to executives and with the appointment of a director, 1,310,807 deferred share units ("DSUs") and 1,355,300 options ("Options") have been issued to certain executives and such director of the Company.
The Options were granted on the date hereof pursuant to the Company's equity incentive plan (the "Equity Incentive Plan") and are exercisable at a price of $0.20 per Common Share and are set to expire on July 26, 2029. The DSUs and Options vested upon grant, subject to the rules of the TSX Venture Exchange.
Neither the TSXV nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.
About LNG Energy Group
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.
For more information, please see below:
Website:
www.lngenergygroup.com
Investor Relations:
James Morris, Vice-President, Business Development and Investor Relations
Email: investor.relations@lngenergygroup.com
Telephone: 205-835-0676
Find us on social media:
LinkedIn: https://www.linkedin.com/company/lng-energy-group-inc/
Instagram: @lngenergygroup
X: @LNGEnergyCorp
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. 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 Group's future business plans; and other factors beyond the control of LNG Energy Group. 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 Group 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.
