Business
Equity Placing and Loan Note Financing
Equity Placing and Loan Note Financing.
About this update from Corpus Resources Plc
[{"type":"text","content":"\n \nRNS Number : 5201R Curzon Energy PLC 01 March 2019 \n\nMarket Abuse Regulation (MAR) Disclosure\nCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \nCurzon Energy Plc\n(\"Curzon\" or the \"Company\")\nEquity Placing and Loan Note Financing\n1 March 2019\nCurzon Energy plc (LON:CZN) the London Stock Exchange listed oil and gas development company, pursuing a targeted strategy of upstream North American natural gas appraisal and development assets, announces the completion of an equity fundraising of £95,000 at £0.0158 per New Ordinary Share and provides details on a loan note financing.\nHighlights\n· Fundraising of £95,000, at a 21.5% premium to the closing mid-market share price on 28 February 2019\n· Participation and support from existing shareholders and directors \n· Foundation for advancement of US natural gas development strategy in place\n· Use of proceeds to progress the MOU with Pared Energy on a multi-TCF onshore natural gas project in Texas (\"Texas Gas Project\") to Heads of Terms (\"HOT\"), as well as providing short-term working capital\nScott Kaintz, Chief Executive Officer, comments:\n\"We are very pleased to have completed this important Placing at a premium to the current share price and secured additional financing from our largest shareholder following several months where our focus lay largely on cost reductions and corporate streamlining. \nSupport from both existing shareholders and directors in the Placing demonstrates the backing behind our initiative on an attractive multi-TCF onshore natural gas project in Texas with Pared Energy. We remain focussed on obtaining a meaningful interest in the Texas Gas Project as a priority, and also in progressing a farm-out or other external funding and development opportunities in relation to our heritage asset at Coos Bay. \nThis fundraising and the proposed HOT marks the beginning of the next phase of Curzon's development and we look forward to updating the market on its progression in due course.\"\n \n \nPlacing and Loan Note Financing\nCurzon Energy has raised £95,000 by way of a placing ...