Curzon Energy PLC Loan Facility (5451E)
04 Luglio 2019 - 3:00PM
UK Regulatory
TIDMCZN
RNS Number : 5451E
Curzon Energy PLC
04 July 2019
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.
4 July 2019
Curzon Energy Plc
("Curzon" or the "Company")
Loan Facility
Curzon Energy plc (LON:CZN) the London Stock Exchange listed oil
and gas development company, pursuing a targeted strategy of
upstream North American natural gas appraisal and development
assets, announces that it has agreed to issue secured loan notes of
up to GBP200,000 ("Loan Notes") to high net worth investors.
The Loan Notes yield 13% per annum, are due for repayment on 1
October 2019, carry a 5% redemption fee and are secured on the
Company's interest in the Coos Bay coal bed methane project.
Further, the Company will issue to these investors warrants over
1,000,000 shares in the capital of the Company, exercisable at a
price of GBP0.02, for a period of 18 months.
The proceeds of the Loan Notes will be applied to working
capital and to finalizing negotiations and documentation associated
with Pared Energy, LLC ("Pared Energy") and the Texas Gas Project,
as previously announced on 29 March 2019, 20 December 2018 and 21
November 2018.
Scott Kaintz, Chief Executive Officer, comments:
"This facility assists the Company in bringing to fruition
several months of work in laying the foundations for participation
in the Texas Gas Project with Pared Energy. We look forward to
making further announcements on these matters in due course."
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
Richard Redmayne
Optiva Securities Limited +44 (0) 20 3137 1902
Christian Dennis
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contact rns@lseg.com or visit www.rns.com.
END
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