REG - Curzon Energy plc - Exclusivity Extension

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RNS Number : 0501U  Curzon Energy PLC  30 November 2021

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.

Curzon Energy Plc

("Curzon" or the "Company")

 

Exclusivity Extension

30 November 2021

 

Curzon Energy Plc (LON:CZN), the London Stock Exchange listed company,
announces that under the terms of the LOI initially announced on 3 February
2021, Poseidon Enhanced Technologies ("PET") has informed the Company of a
further extension of the existing exclusivity period through 1 January 2022.

The parties continue to diligently work towards the execution and delivery of
a definitive purchase agreement, contemplating a reverse takeover of Curzon by
PET ("RTO"), which will be conditional upon receipt of the required regulatory
approvals from the FCA and its primary market functions, among other
matters.

A potential transaction, if completed, would constitute a reverse takeover
under the Listing Rules.  The Company will continue to update the market on
progress as appropriate.

About Poseidon Enhanced Technologies

Poseidon aims to provide the lowest-cost solution for the food and beverage
industry to achieve its goal of reducing the use of virgin PET*
and single-use plastics.  Poseidon's mission is to convert waste PET into
100% recycled feedstock for the global food-grade PET packaging and fibre
industries, utilising its patented environmentally-friendly chemical recycling
process.

Poseidon's proprietary chemical recycling technology is designed to process
all 'waste' PET plastic, including previously unrecyclable plastics such as
coloured bottles, trays, fibre and films, converting them directly into
Poseidon rBHET™, an interim feedstock for the global PET industry, thereby
completing a Circular Economy.  Poseidon is currently developing its
recycling technology at its facilities at Teesside, UK and is planning an
industrial scale roll-out which is expected to be facilitated by the listing
process and an associated capital raise.

 For further information please contact:

 Curzon Energy Plc                                   +44 (0) 20 7747 9980
 Scott Kaintz
 www.curzonenergy.com (http://www.curzonenergy.com)

 SP Angel Corporate Finance LLP                      +44 (0) 20 3470 0470

Broker

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