Equity Placing and Transaction Update

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 June 2020

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

Equity Placing and Transaction Update

Curzon Energy plc (LON:CZN) the London Stock Exchange listed oil and gas company, announces the completion of an equity fundraising of £166,066 at a price of £0.01 per New Ordinary Share and provides an update on the status of negotiations with the Sun Seven Stars Investment Group.

Highlights

·    Fundraising of £166,066 priced at approximately the 14-day volume weighted average price ("VWAP") of the Company's shares  

·    Use of proceeds to provide funding to advance and complete negotiations with Sun Seven Stars Investment Group ("SSSIG") on a transaction involving London Critical Metals Market ("LCMM")

·    Due diligence continues to progress with next step to complete definitive documentation on a transaction  

Scott Kaintz, Chief Executive Officer comments:

"We are very pleased to have completed this important placing securing the funding required to advance our ongoing diligence process with Sun Seven Stars Investment Group.  The scale of the transaction is expected to be significant, and as such carries with it a requirement for legal and financial support that we expect this raise to enable the Company to procure. 

With sizeable opportunities come significant amounts of preparation and due diligence, and we are now in a strong position to drive forward this transaction, which if successfully completed, we believe would be transformational for Curzon.  We look forward to continuing to update the markets in due course."   

Update on Sun Seven Stars Investment Group Negotiations

Curzon continues to progress negotiations with SSSIG regarding completion of definitive documentation regarding a potential reverse takeover of Curzon as previously announced on 18 March 2020.  Due diligence activities on Curzon by LCMM have nearly been completed and the Company continues to review and assess materials provided by LCMM on the structure and trading history of the target entities. 

About London Critical Metals Market

LCMM is committed to facilitating the various needs of the Commodities Industrial Internet by leveraging Artificial Intelligence, Blockchain, Cloud and Big Data in its Industrial Internet platform, LCMM connects industry verticals, transforms existing businesses and empowers industry leaders via a complete financial services value chain. The initial focus is on the metals industry, with additional opportunities in other industries such as energy and natural gas, agriculture, and building materials. LCMM is positioned to become the premiere financial services platform for the Commodities Industrial Internet.

Placing Details

Curzon Energy has raised £166,066 by way of a placing of 16,606,594 new ordinary shares of £0.0001 each ("Placing Shares") to institutional investors at a price of £0.01 per share, plus 17,606,594 twenty-four month warrants, exercisable into ordinary shares at a price of £0.015 per ordinary share for a period of twenty-four months ("June 2022 Warrants")(together the "Placing").

Total Voting Rights (TVR)

The Placing is conditional on admission of the Placing Shares to trading on the London Stock Exchange ("Admission").

Application will be made to the London Stock Exchange for Admission of the Placing Shares, which will rank pari passu with the Company's existing issued Ordinary Shares. Dealings are expected to commence at 8.00 a.m. on or around 10 June 2020.

Following the issue of the Placing Shares, the issued share capital of the Company will consist of 99,639,565 ordinary shares of £0.0001 each with voting rights.

The above figure of 99,639,565 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Disclosure and Transparency Rules.

Note:  Market soundings, as defined in the Market Abuse Regulation ("MAR"), were taken in respect of the Placing with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement and has been disclosed as soon as possible in accordance with paragraph 7 of article 17 of MAR. Therefore, those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities.