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CZN - Curzon Energy News Story

0.775p 0.0  0.0%

Last Trade - 10/11/20

Sector
Energy
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 1803

Curzon Energy plc - Loan Facility

Thu 4th July, 2019 2:00pm
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 £200,000 ("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 £0.02, 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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