Loan Facilities Refinanced

RNS Number : 7277L

Curzon Energy PLC

01 May 2020

 

Market Abuse Regulation (MAR) Disclosure

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.

1 May 2020

Curzon Energy Plc
("Curzon" or the "Company")

Loan Facilities Refinanced

Curzon Energy plc (LON:CZN) the London Stock Exchange listed company, announces that it has agreed to refinance its outstanding secured loan notes ("Secured Notes") of £216,553 and its unsecured loan notes ("Unsecured Notes") of US$200,000.

Secured Loan Notes

As previously announced on 13 February 2020, the Company has further agreed with the Secured Note lenders to capitalize the amounts due to date into a new principal amount of £263,265 as of 1 April 2020.  The interest rate is to remain the same at 13% per annum.  The maturity date of the Secured Loan notes has been extended and is now the sooner of the completion of a reverse takeover, or 1 October 2020. 

Unsecured Loan Notes

As previously announced on 13 February 2020, the Company has agreed with the Unsecured Note lenders to refinance by extending the existing balance to 1 October 2020.  The interest rate is to remain the same at 15% per annum, and the total outstanding principal and interest is approximately US$238,918.   

Corporate Update

The Company continues to the advance the due diligence process with the Sun Seven Stars Investment Group ("SSIG") regarding the potential acquisition of a 100% interest in London Critical Metals Market ("LCMM").  Good progress has been made to date and the Company will make further updates as appropriate. 

For further information please contact:
Curzon Energy Plc	[phone]
Scott Kaintz
www.curzonenergy.com
SP Angel Corporate Finance LLP	[phone]
Richard Hail
Optiva Securities Limited	[phone]

 

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