KEYFACT Energy
Reabold announces that, further to its announcement of 4 May 2022, Corallian Energy continues negotiations with the potential purchaser for the acquisition of its entire issued share capital.
As part of the Potential Sale process, Reabold had entered into a conditional sale and purchase agreement ("SPA") to acquire Corallian's working interest in all the non-Victory licences within the Corallian portfolio (the "Acquisition"). The SPA gave the right to both Corallian and Reabold to terminate the SPA if the Potential Sale had not completed by 31 August 2022. Given negotiations with regard to the Potential Sale remain ongoing, neither Reabold nor Corallian intend to terminate the SPA.
KeyFacts Energy: Reabold Resources UK country profile