Curzon Energy poised for reboot via LCMM reverse takeover

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Curzon Energy poised for reboot via LCMM reverse takeover

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 lasting until 30 June, allowing a period of due diligence and potentially progression through to a definitive purchase agreement.

The LCMM aims to be the “first unified global metals trading exchange for critical metals that have few or no direct investment or trading options elsewhere in the world,” the company said.

“The board is enthusiastic about the opportunity presented by a potential combination with London Critical Metals Market, a new metals trading platform,” said Scott Kaintz, Curzon chief executive.

“If the combination goes ahead, it would see Curzon participating in the growth of a critical metals trading platform including global settlement and supply chain financing, transforming the future prospects of the Company for the benefit of shareholders.”

Proactiveinvestors.co.uk

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