LNG Energy Ltd. Announces $25,000,000 Private Placement Financing

LNG Energy Ltd. (TSX VENTURE:LNG) reported that the company has entered into an agreement with Paradigm Capital Inc., as lead agent in a syndicate including GMP Securities L.P. pursuant to which the Agents have agreed to use their commercially reasonable efforts to complete a private placement offering of special warrants to raise proceeds up to $25 million.

The press release is quoted as saying:

LNG Energy Ltd. is a Canadian exploration and development company focused on developing oil and gas reserves in Papua New Guinea, Poland and the US. LNG holds a 100% interest in approximately 5.5 million acres of prospective oil and gas properties in Papua New Guinea.

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