Letter of Intent Executed on a Potential RTO

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.

18 March 2020

Curzon Energy Plc
("Curzon" or the "Company")

Letter of Intent Executed on a Potential RTO

Curzon Energy Plc (LON:CZN) the London Stock Exchange listed company, is pleased to announce that it has executed a letter of intent with the Sun Seven Stars Investment Group ("SSSIG") to potentially acquire a 100% interest in London Critical Metals Market ("LCMM"), the first unified global metals trading exchange  for critical metals that have few or no direct investment or trading options elsewhere in the World.

The Company will now enter an initial period of exclusivity with SSSIG during which each party will conduct due diligence on the other.  The parties have agreed that during this period they will work towards the execution and delivery of a definitive purchase agreement contemplating a reverse takeover of Curzon by LCMM ("RTO"), including receipt of the required regulatory approvals from the FCA and its primary market functions.  The due diligence period is expected to last approximately 1 month.

For providing SSSIG with an initial period of exclusivity lasting through to 30 June 2020, SSSIG will lend the Company an initial amount of £125,000 in the form of a one-year loan note carrying an annual interest rate of 10% per annum, convertible at the price of any subsequent share issue in the contemplated RTO transaction.

After 30 April 2020, further loan funds may be made available by SSSIG to the Company if the envisaged transaction continues to progress, or in order to extend the initial period of exclusivity beyond 30 June 2020. 

About London Critical Metals Market

London Critical Metal Market (LCMM), is the first globally unified metals trading network focusing on critical metals and covering multiple metals. It utilizes AI, blockchain, cloud and big data technologies to integrate and synchronize the existing global metals buying and selling infrastructure and offers "one venue for listing and global trading" trading service for physical delivery and custody on all metals (including but not limited to nonferrous/precious/critical metals). Moreover, LCMM cooperates with partners to offer financial derivatives products & trading services. These products and services focus on critical metals and multilevel financial services such as supply chain financing and global settlement. LCMM facilitates borderless clearance and settlement via both fiat and digital currencies, linking RMB with other fiat currencies through digital stable coins including DCEP and USDT. By combining global settlement, supply chain financing capabilities and providing dynamic pricing indicators, LCMM creates a unique global metal trading price index system for all partner types throughout the value chain including mine owners, traders, and end-product manufacturers.

Scott Kaintz, Chief Executive Officer of Curzon, commented:

"The Board is enthusiastic about the opportunity presented by a potential combination with London Critical Metals Market, a new metals trading platform. If the combination goes ahead, it would see Curzon participating in the growth of a critical metals trading platform including global settlement and supply chain financing, transforming the future prospects of the Company for the benefit of shareholders.

"We look forward to updating the market as we make progress on this potential combination."

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