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Mustang Energy PLC and Bushveld Minerals Limited agreed to extend the notice period for Mustang to issue notice in respect of a backstop, relating to its investment in VRFB Holdings Limited. This extension, regarding the backstop announced on 19 January 2022, facilitates negotiations and documentation with holders of US$8,000,000 Convertible Loan Notes and sets the new deadline for close of business on 17 March 2022.
| Date | 11 Mar 2022 |
| Time | 09:14:07 |
| Category | Miscellaneous |
| ID | 5008E |
Friday 11 March 2022
Mustang Energy PLC
VRFB-H Investment - Extension of Notice Period
Mustang Energy PLC (the "Mustang" or "Company"), the special purpose acquisition company, provides the following update on its investment in VRFB Holdings Limited ("VRFB-H").
To allow for finalisation of negotiations and documentation between Bushveld Minerals Limited ("Bushveld"), Mustang and the holders of US$8,000,000 Convertible Loan Notes ("CLNs") Bushveld and Mustang have agreed on an extension of the notice period for Mustang to issue notice in respect of the backstop as announced on 19 January 2022, until close of business on Thursday, 17 March 2022.
The Company will provide further updates in due course.
ENQUIRIES
For further information, please visit www.mustangplc.com, follow us on Twitter @Mustang_Plc, or contact:
Mustang Energy PLC
Dean Gallegos, Managing Director
dg@mustangplc.com
+61 416 220 007