CZN Curzon Energy Plc

TIDMCZN

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 GBP216,553 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 GBP263,265 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                 +44 (0) 20 7747 9980 
 Scott Kaintz 
 www.curzonenergy.com 
 
 SP Angel Corporate Finance LLP    +44 (0) 20 3470 0470 
 Richard Hail 
 
 Optiva Securities Limited         +44 (0) 20 3137 1902 
 
 

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May 01, 2020 12:18 ET (16:18 GMT)

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