ACP Energy PLC (GB:ACPE) has released an update.
ACP Energy PLC has indicated that its previously planned deal with Vinccler C.A. is now deemed very unlikely due to political instability in Latin America and the loss of a key funding partner. The company is now pursuing a new agreement with a Singaporean firm to acquire a royalty interest in a natural resources asset, which, if successful, would amount to a reverse takeover and require shareholder approval, additional fundraising, and re-listing on the AIM market of the London Stock Exchange.
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