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Client Work

LNG Energy closes US$20 million private placement financing

Fasken
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Overview

Client

LNG Energy Ltd.

On June 30, 2010, LNG Energy Ltd. (TSX VENTURE:LNG) announced that it had closed the private placement of 80,403,400 special warrants at a price of $0.25 per Special Warrant, raising gross proceeds of $20,100,850. The offering was conducted by a syndicate of investment dealers led by Paradigm Capital Inc. and including GMP Securities L.P. LNG Energy is a Canadian exploration and development company focused on developing oil and gas reserves in Papua New Guinea, Poland and the US. Proceeds from the offering are expected to be used to fund ongoing exploration and development expenditures, working capital and for general corporate purposes.LNG Energy was advised in this transaction by Fasken Martineau with a team that included Iain Mant, Steve Saville and Samuel Li.

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