LNG Energy Group Announces Application for Management Cease Trade Order
TORONTO, May 07, 2025 (GLOBE NEWSWIRE) -- LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FWB: E26) (the 'Company' or 'LNG Energy Group') announces that there will be a delay in filing its annual financial statements, management's discussion and analysis, related officer certifications for the financial year ended December 31, 2024, and Form 51-101F1, Form 51-101F2 and Form 51-101F3, as required by National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (collectively, the 'Required Filings'), which are required to be filed on or before April 30, 2025 (the 'Filing Deadline'). The delay in filing the Required Filings is primarily a result of delays caused in getting its local operational audit completed, combined with recent departures of key Company personnel. The Company is continuing to work with its Canadian auditors to complete the Required Filings as soon as possible and expects to file them within two months of the Filing Deadline.
In connection with the delay in filing, the Company has applied to the applicable Canadian securities regulators for the issuance of a management cease trade order which would restrict all trading in securities of the Company by the Company's Chief Executive Officer and Chief Financial Officer.
The Company intends to satisfy the provisions of the alternative information guidelines set out in sections 9 and 10 of National Policy 12-203 – Management Cease Trade Orders so long as the Required Filings remain outstanding. The Company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Company that has not been generally disclosed.
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 contact:
Angel Roa, Chief Financial Officer LNG Energy Group Corp.
Website: www.lngenergygroup.com
Email: investor.relations@lngenergygroup.com
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 certain forward-looking information that reflect the current views and/or expectations of management of LNG Energy Group with respect to performance, business and future events. Forward-looking information can often be identified by words such as 'may', 'will', 'would', 'could', 'should', 'believes', 'estimates', 'projects', 'potential', 'expects', 'plans', 'intends', 'anticipates', 'targeted', 'continues', 'forecasts', 'designed', 'goal', or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which LNG Energy Group operates. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking information, readers should not place undue reliance on such information. The risks and uncertainties include, but are not limited to, whether LNG Energy Group will be able to obtain regulatory approval for the management cease trade order and the anticipating timing of filing the Required Filings. Forward-looking information is current as of the date it is made and is based on reasonable estimates and assumptions made by us at the relevant time in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. LNG Energy Group does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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