Mustang Energy Gets Extension For VRFB-H Purchase

Mustang Energy PLC – London-based special purpose acquisition company – Receives extension to buy 27% stake in VRFB Holdings Ltd.

New deadline for USD10.5 million purchase is October 28.

“The parties to the investment agreement, including [Mustang Energy], have agreed to extend the maturity date until October 28, 2022 to allow for the finalisation of a prospectus and review process of that prospectus by the Financial Conduct Authority in connection with readmission, a process that has commenced,” Mustang Energy explains.

VRFB is a 50% shareholder in Enerox Holding Ltd, which is a special purpose vehicle that owns Enerox GmbH, an Austrian vanadium redox flow battery manufacturer.

Current stock price: 30.60 pence, suspended

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