Curzon Energy PLC - London-headquartered, US-focused natural gas investor - Extends period of exclusivity with Sun Seven Stars Investment Group over reverse take over. In March, Curzon 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 saw the pair enter a period of exclusivity to June 30 to complete the deal.
On Wednesday, the company said the period of exclusivity has been extended until September 1 through the payment of GBP75,000 to be added to the existing one-year loan note carrying an annual interest rate of 10% per annum and convertible at the price of any subsequent share issue in the transaction. It added that Sun Seven Stars has the option to further extend the exclusivity period through to December 1 by making additional payments.
An extension was previously agreed in July.
Current stock price: 0.80 pence
Year-to-date change: down 5.9%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Curzon Energy (CZN)