Business
Letter of Intent Executed on a Potential RTO
Letter of Intent Executed on a Potential RTO.
About this update from Corpus Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 5431G\n Curzon Energy PLC\n 18 March 2020\n \n \n \n \n Market Abuse Regulation (MAR) Disclosure\n \n \n Certain 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 \n \n \n \n \n 18 March 2020\n \n \n \n Curzon Energy Plc\n \n \n \n (\"Curzon\" or the \"Company\")\n \n \n \n Letter of Intent Executed on a Potential RTO \n \n \n \n \n \n Curzon Energy Plc (LON:CZN) the London Stock Exchange listed company, is pleased to announce that it has executed a letter of intent with the Sun Seven Stars Investment Group (\"SSSIG\") to potentially acquire a 100% interest in London Critical Metals Market (\"LCMM\"), the first unified global metals trading exchange for critical metals that have few or no direct investment or trading options elsewhere in the World. \n \n \n The Company will now enter an initial period of exclusivity with SSSIG during which each party will conduct due diligence on the other. The parties have agreed that during this period they will work towards the execution and delivery of a definitive purchase agreement contemplating a reverse takeover of Curzon by LCMM (\"RTO\"), including receipt of the required regulatory approvals from the FCA and its primary market functions. The due diligence period is expected to last approximately 1 month.\n \n \n For providing SSSIG with an initial period of exclusivity lasting through to 30 June 2020, SSSIG will lend the Company an initial amount of £125,000 in the form of a one-year loan note carrying an annual interest rate of 10% per annum, convertible at the price of any subsequent share issue in the contemplated RTO transaction.\n \n \n After 30 April 2020, further loan funds may be made available by SSSIG to the Company if the envisaged transaction continues to progress, or in order to extend the initial period of exclusivity beyond 30 June 2020. \n \n \n \n \n \n About London Critical Metals Market\n \n \n London Critical Metal Market (LCMM), is the first globally unified metals trading network focusing on critical metals and covering multiple metals. It utilizes AI, blockchain, cloud and big data technologies to integrate and synchronize the existing global metals buying a...