It sounds like a multi-aspect sensor (YAY!), which can throw off the megapickel count and the focal length "crop factor" by a little bit. This one sounds pretty specific, down to the diagram of where it fits between the size of the RX100 and the G1X mkII. So I'd bet it really is a 24-75 equivalent but not a a precise 2 times crop factor.
Sounds like a REALLY compelling little package, with that GH4 sensor, which is a great sensor. The only drawback for me is the lesser range at the long end. I consider 90mm to be a minimum for an effective portrait length. So topping out at 70mm really limits it's use as a SINGLE walk around camera. For me at least. That said, it's a better sensor than the 1" Sony (although only very much better in low light - that 1" really hits above its weight otherwise) and I'd bet a far better camera ergonomically. But it makes for a pretty direct competition with the RX100 mkIII, which is at 24-70 with similar lens speed. If you want pocketable, you'll go for the Sony, if you prefer a slightly larger camera with what I assume will be better handling, you'll go for the Panasonic. Presuming similar prices of course...
-Ray