Curzon Energy PLC - company which invests in US based natural gas projects - Says Poseidon Enhanced Technologies has secured a further extension of the existing exclusivity period through August 1. Back in February, Curzon entered an initial period of exclusivity with Poseidon - which aims to convert waste virgin polyethylene terephthalate produced from crude oil and plastic into recycled feedstock for the packaging and fibre industries - in which both companies will conduct due diligence on each other.
Curzon Energy on Friday notes a period during which each party is conducting due diligence on the other continues. The parties continue to work towards the execution and delivery of a definitive purchase agreement, contemplating a reverse takeover of Curzon by Poseidon.
Current stock price: 0.78 pence
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Curzon Energy (CZN)