(Alliance News) - Curzon Energy PLC said Wednesday it has signed a letter of intent for a reverse take over of London Critical Metals Market, buying the metals trading exchange from Sun Seven Stars Investment Group.
The deal would constitute a reverse takeover of Curzon by LCMM. Curzon has entered a period of exclusivity with SSSIG to June 30 to complete the deal. During that time SSIG will provide Curzon with a GBP125,000 loan. The exclusive period may be extended and additional loans provided, Curzon said.
London Critical Metals Market uses artificial intelligence and blockchain technology to provide a metals trading network focused on critical metals that have few or no direct investment or trading options elsewhere, Curzon said.
Curzon shares ended down 14% at 0.48 pence in London on Wednesday.
By Tom Waite; thomaslwaite@alliancenews.com
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Curzon Energy (CZN)