News: LNG Liquefied Natural Gas Updates On LNG9 Takeover And Bridge Funding Proposal

March 27 (Reuters) - Liquefied Natural Gas Ltd (LNG) :

• LNG9 INFORMED CO THAT ITS BIDDER STATEMENT TO BE LODGED WITH ASIC IN MID-APRIL 2020; DELAY DUE TO GLOBAL IMPACT OF COVID-19
• BOARD OF DIRECTORS UNANIMOUSLY SAYS SHAREHOLDERS SHOULD ACCEPT LNG9 OFFER ONCE RECEIVED
• FIRST WALL STREET CAPITAL CORP WILL NOT PROVIDE FUNDS ACCORDING TO TERMS OF SECURED CONVERTIBLE NOTE SUBSCRIPTION DEED
• LNG9 INTENDS TO PROVIDE/ARRANGE NEW SOURCES OF FUNDING TO HELP CO'S WORKING CAPITAL POSITION AND SUSTAIN OPERATIONS
• EXISTING FUNDING SUFFICIENT TO MEET COMMITMENTS UNTIL LATE APRIL, BUT NEEDS EXTRA FUNDING URGENTLY TO OPERATE BEYOND