Highlights:
- U.S.$70 million committed financing to complete the acquisition of Lewis Energy Colombia, Inc.
- The Transaction represents the first step in the creation of a Latin America energy platform.
/NOT FOR DISTRIBUTION TO UNITED STATESNEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, July 27, 2023 /CNW/ - Mind Cure Health Inc. (CSE: MCUR) (OTC: MCURF) (the "Company") is pleased to announce that a wholly-owned subsidiary of LNG Holdings Inc. (formerly known as LNG Energy Group Inc.) ("LNG Energy") has entered into a definitive credit agreement (the "CreditAgreement") with Macquarie Group (the "Lender") in the aggregate principal amount of U.S.$70 million in order to complete the acquisition (the "Transaction") of Lewis Energy Colombia, Inc. ("Lewis Energy Colombia").
"LNG Energy is very pleased to be moving ahead with acquisition of Lewis Energy Colombia. The Transaction represents the go-public of a leader in the Colombian energy sector, that owns and operates premier natural gas assets near the city of Barranquilla," commented Pablo Navarro, Chairman and Chief Executive Officer of LNG Energy. "We would like to thank the Lewis Energy Group, our investors and Lender for the support they have shown us and we look forward to growing LNG Energy in partnership with them."
"We are pleased to provide financing to the LNG Energy team in its acquisition of Lewis Energy Colombia. This is a unique opportunity to back a well-respected management team that is partnering with a world-class operator," commented Catalina Hayata, Managing Director and Head of Latin America Private Credit in Macquarie Group's Commodities and Global Markets business. "This commitment builds upon our existing activities in Colombia. We are pleased to continue providing solutions and support to our clients in Latin America."
Pursuant to the terms of the Credit Agreement, LNG Canada Holdco Inc., a wholly-owned subsidiary of LNG Energy, will borrow U.S.$70 million, subject to certain financial, positive and negative covenants. The Credit Agreement provides LNG Energy with a 5-year, senior secured amortizing loan to fund the Transaction.
For more information concerning the business combination transaction between the Company and LNG Energy, please see the news releases of the Company dated May 5, 2023 and June 9, 2023, respectively.
About LNG Energy Group Inc.
LNG Energy is a private company focused on the acquisition of natural gas production and exploration assets in Latin America. For more information, please visit www.lngenergygroup.com.
About Mind Cure Health Inc.
Mind Cure was historically a life sciences company focused on innovating and commercializing new ways to promote healing and improve mental health.
On Behalf of the Board of Directors
Philip Tapley, CEO
Phone: 1-888-593-8995
Neither the CSE nor the TSXV has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this news release. Neither the CSE, the TSXV nor its Regulation Service Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.