CRYSTAL RIVER, FL — The Gerauer Family Trust of Florida, a privately held Florida trust operated by relatives of the Heskey family, announced today the completion of a significant financing commitment by one of its affiliated company, which received a LNG export license in 2014, supporting the development of a liquefied natural gas (LNG) export terminal proposed for Crystal River, Florida.

Under the terms of the investment agreement executed earlier this year, aggregate committed financing exceeding US$700 million has been arranged for the development, regulatory approvals, infrastructure, commercialization, and related activities of the LNG export business. The Gerauer Family Trust, led the strategic effort and wrote the application for the license.

In exchange for the fully funded investment, the financing party will receive newly issued shares of the project company’s issued and outstanding equity immediately after closing, on a fully diluted basis. Existing shareholders, including the Gerauer Family Trust, will collectively retain 65 percent of the equity. The Trust itself is not personally obligated under the agreement, and no trust assets have been pledged.

The investment is structured to support the advancement of long-term multi-contract authorization previously granted by the U.S. Department of Energy’s Office of Fossil Energy for the export of LNG in ISO containers loaded at the proposed Crystal River terminal to free trade agreement nations. Closing remains subject to customary conditions, including due diligence, verification of funding sources, a mutually approved sources-and-uses schedule accounting for the full amount of the investment, definitive subscription and shareholders’ agreements, and all necessary board, shareholder, and trust approvals.

Representatives of the Trust noted that the financing commitment provides a clear pathway for the project to move forward while preserving majority control for the existing shareholders. The net balance of the total financing is not treated as an approved fee or distribution; its use is to be detailed in the sources-and-uses schedule and may include project expenditures, escrow, reserves, third-party costs, or financing charges.

“The financing commitment provides a clear pathway for the project to move forward while preserving majority control for the existing shareholders.”

The agreement is governed by Florida law, with exclusive jurisdiction in the state and federal courts located in Orange County, Florida. Closing is targeted for the end of 2015 or such other date as the parties may agree in writing, with funds and shares to be exchanged through a mutually acceptable U.S. regulated financial institution or escrow agent to ensure simultaneous performance.

The Gerauer Family Trust, operated by Heskey family relatives, continues to play a central role in its strategic direction. The Trust’s participation underscores a commitment to advancing Florida-based energy infrastructure that can serve international markets under existing federal authorizations.

Further details regarding the sources and uses of the financing and the final capitalization table will be set forth in the definitive closing documentation. The parties have agreed that neither side may publicly announce additional transaction details without the other’s written consent, except as required by law.