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Business Upturn
05-07-2025
- Business
- Business Upturn
LNG Energy Group Informs Material Events
By GlobeNewswire Published on July 5, 2025, 05:11 IST TORONTO, July 04, 2025 (GLOBE NEWSWIRE) — LNG Energy Group Corp. (TSXV: LNGE) (TSXV: (OTCQB: LNGNF) (FWB: E26) (the 'Company' or 'LNG Energy Group') announces that the Failure-to-File Cease Trade Orders in Multiple Jurisdictions (FFTCO) continues and that the Company expects to file the Company's annual audited financial statements for the fiscal year ended December 31, 2024, the related management's discussion and analysis, and the CEO and CFO certificates relating to the audited annual financial statements as required by National Instrument 52-109 – Certification of Disclosure in Issuers' Annual and Interim Filings (collectively, the 'Required Documents') for the fiscal year ended December 31, 2024, within the timeframe granted by the Ontario Securities Commission (the 'OSC'). Such filings will constitute the Company's application to have the FFCTO revoked. There can be no assurance that the FFCTO will be revoked on the timeline contemplated by the Company. As part of the strategic review process the Company announced on December 04, 2024, the Company has contemplated with its financial and legal advisors a number of alternatives including financings, corporate reorganization, strategic partnerships, acquisitions, assets spin-offs and/or farm-outs, sale, and other forms of business combination. As part of this process, the Company has decided to terminate the long-term Gas Sales Agreements in place, and it will evaluate natural gas marketing alternatives more in tune with its current sales volumes and present market conditions. Lenders under the Credit Agreement have notified the Company of an event of default under its Credit Agreement, and LNG Energy Group and the lenders are in conversations about the situation. The Company's Colombian branch applied for admittance into the Proceso de Recuperación Empresarial ('PRES') as regulated under the Colombia Law 2437 of 2024, for insolvency protection, which should result in operations optimization and renegotiation of obligations with suppliers and other parties. LNG Energy Group continues with its initiatives to stabilize natural gas production, optimize costs and enhance its liquidity position. We expect to announce soon the results of this comprehensive strategic review process. 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 . For more information please contact: Angel Roa, Chief Financial Officer LNG Energy Group Corp. Website: Email: [email protected] Find us on social media: LinkedIn: 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, the anticipating timing of filing the Required Documents. 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. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
07-05-2025
- Business
- Yahoo
LNG Energy Group Announces Application for Management Cease Trade Order
LNG Energy Group Corp. TORONTO, May 07, 2025 (GLOBE NEWSWIRE) -- LNG Energy Group Corp. (TSXV: LNGE) (TSXV: (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 . For more information please contact: Angel Roa, Chief Financial Officer LNG Energy Group Corp. Website: Email: Find us on social media: LinkedIn: 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.


Globe and Mail
11-04-2025
- Business
- Globe and Mail
LNG Energy Group Announces Director Resignation
TORONTO, April 11, 2025 (GLOBE NEWSWIRE) -- LNG Energy Group Corp. (TSXV: LNGE) (TSXV: (OTCQB: LNGNF) (FRA: E26) (the ' Company ' or ' LNG Energy Group ') announced today that Jeff Agosta has resigned from the Board of Directors of the Company, effective immediately. 'We thank Jeff for his contributions to the Company. He has resigned to pursue other endeavours and we wish him the best of luck going forward,' commented Pablo Navarro, Chief Executive Officer of LNG Energy Group. About LNG Energy Group The Company is focused on the acquisition and development of oil and gas exploration and production assets in Latin America. For more information, please see below: Website: Investor Relations: Angel Roa, Chief Financial Officer Email: Telephone: +57-321-943-9396