CHAL.L Regulatory News (CHAL)

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Challenger Acquisitions Limited

('Challenger' or the 'Company')

Supreme Court approval for Plan of Arrangement

Challenger Acquisitions Limited (LSE: CHAL) is pleased to announce that on 14 July 2021 the Supreme Court of British Columbia approved the Plan of Arrangement in respect of the acquisition of Cindrigo Energy Limited ('Cindrigo') by Challenger that was presented to and approved by shareholders of Cindrigo on 29th June 2021. Subject to the satisfaction of the last outstanding condition to the Plan of Arrangement, the Company anticipates that the reverse takeover of Cindrigo by Challenger will complete before the end of July 2021.

Cindrigo is a group that is pursuing renewable energy projects built on broad Swedish expertise and experience in the waste to energy and biomass energy sector (see www.cindrigo.com). For further details of the Plan of Arrangement please refer to the Company's announcement dated 17 June 2021.

Lars Guldstrand, Challenger's Chief Executive said, "Following shareholder approval at the EGM last month, today's approval by the Supreme Court of British Columbia represents another major step taken towards completing the acquisition of Cindrigo Energy Limited by the end of July 2021."

**ENDS**

For more information visit www.challengeracquisitions.com or enquire to: