Curzon Energy still in talks over possible transaction

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Curzon Energy PLC (LON:CZN) has been a seeking new opportunity since a debt transaction in February triggered a restructuring.

In mid-March, the company announced the signing of a letter of intent (LOI) which envisages the 100% acquisition of the London Critical Metals Market (LCMM).

The LOI with Sun Seven Stars Investment Group (SSSIG) has established a period of exclusivity allowing a period of due diligence and potentially progression through to a definitive purchase agreement.

In November,  Curzon told investors that the transaction exclusivity period with Sun Seven Stars Investment Group (SSSIG) has expired.

The company said, however, that it remains in discussions regarding a potential new extension to the exclusivity period.

The talks are with a view to advancing a transaction, the terms for which have yet to be agreed.

In the statement, the company noted: “While the parties continue to work constructively towards renewing exclusivity and a potential transaction, there can be no certainty around the length of time required to reach definitive agreement or the likelihood of concluding a successful transaction. The company will continue to update the markets on progress as appropriate.”

 

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