Curzon Energy PLC extends SSIG loan to August
Due diligence work continues for the proposed reverse takeover of Poseidon Enhanced Technologies
() has extended an outstanding loan with Sun Seven Stars Investment Group until 30 August 2021.
The loan amounts to £260,000 and has an interest rate of 10%.
The company, meanwhile, noted that it continues to conduct mutual due diligence with Poseidon Enhanced Technologies (PET), ahead of an anticipated reverse takeover.
Earlier this month, Curzon noted the extension of its exclusivity period for the PET transaction until April 1.
The company previously unveiled a new deal which would see the AIM-quoted entity become a producer of low-cost recycled plastics for the food and beverage industry.
Poseidon has developed a proprietary chemical recycling technology at its facilities on Teesside, in northeast England.
Read More: Curzon Energy PLC extends SSIG loan to August