Reabold Resources PLC (AIM:RBD) and LNEnergy have verbally extended the deadline date for their First Option and Shareholder Option until 11 June 2023.
The formal extension agreement is in the process of being signed, the company said in a statement.
Reabold is acquiring an initial 3.1% interest in LNEnergy for £ 250,000 with options to take its stake to 25% with a total investment of £3.8mln.
LNEnergy’s primary asset is an option over a 90% interest in the Colle Santo gas field, onshore Italy.