4th Jun 2020 18:32
(Alliance News) - Curzon Energy PLC on Thursday said it raised GBP166,066 by way of a share placing, as the US-based natural gas projects developer negotiates a potential reverse takeover.
The company is placing of 16.6 million shares at 0.01 pence each, representing a 37% discount to the 1.6 pence closing price on Wednesday. The stock closed down 13% at 1.40p on Thursday.
Chief Executive Scott Kaintz said the funding was required to advance the negotiations with Sun Seven Stars Investment Group regarding the transaction with London Critical Metals Market and a potential reverse takeover.
Earlier in 2020, Curzon Energy signed a letter of intent for a reverse takeover of London Critical Metals Market, buying the metals trading exchange from Sun Seven Stars Investment Group.
By Arvind Bhunjun; [email protected]
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