Business
Sale of Corporate Debt and Corporate Update
Sale of Corporate Debt and Corporate Update.
About this update from Corpus Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8337C Curzon Energy PLC 13 February 2020 \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 \n13 February 2020\nCurzon Energy Plc\n(\"Curzon\" or the \"Company\")\nSale of Corporate Debt and Corporate Update\n \nCurzon Energy Plc (LON:CZN) the London Stock Exchange listed oil and gas development company, has been informed by YA Global Investments, LP (\"YA\"), of the sale of its outstanding debt due to YA, to C4 Energy Ltd (\"C4\") a UK incorporated private company. The current balance of the loan agreement is US$200,000 with approximately US$32,000 of accrued interest.\nSecured Loan Notes \nSeparately, the Company remains in discussions with the lenders of £200,000 of secured loan notes, as most recently announced on 18 October 2019. The Company expects to reach an agreement on a refinancing with the lenders of these notes in due course. \n \nCorporate Update\nFollowing a period of discussions between key stakeholders and investors in the business, the Directors have resolved to enlarge the focus of the Company to potentially include sectors outside of the energy sector.\nThe Directors have identified a number of attractive opportunities available for Curzon to potentially participate in and, following further evaluation, additional announcements will follow as appropriate. At this stage, there can be no assurance that these opportunities will lead to any transaction but the Directors remain committed to completing a transaction in the near term.\nIn light of these developments and overarching market conditions in the junior oil and gas space, the Company has ended discussions around a transaction with Pared Energy in Texas, as most recently announced on 27 September 2019.\n \nFor further information please contact:\n \n\n\n\nCurzon Energy Plc\n\n\n+44 (0) 20 7747 9980\n\n\n\n\nScott Kaintz\n\n\n\n\n\n\n\nwww.curzonenergy.com\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSP Angel Corporate Finance LLP\n\n\n+44 (0) 20 3470 0470\n\n\n\n\nRichard Hail\n\n\n\n\n\n\n\nStephen Wong\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOptiva Securities Limited\n\n\n+44 (0) 20 3137 1902\n\n\n\n\n\n\n\n\n\n\n\n \n\...