A close up of a magnifying glass rests on top of a bar graph that shows declining sales or performance over a quarterly basis. The image is photographed using a very shallow depth of field.

Curzon Energy PLC (LON:CZN) has extended the deadline to complete its deal with Sun Seven Stars Investment Group (SSSIG) until September.

The new deadline is September 1. Some £75,000 will be added to its one-year convertible loan note (which carries interest at 10% per year).

SSSIG has the right to extend the deadline further, through to December 1, by making additional payments.

“While the parties continue to work constructively towards a potential transaction, there can be no certainty that due diligence when complete will be compelling, nor to be able to predict the length of time required to reach definitive agreement or the likelihood of concluding a successful transaction,” Curzon said.

“The company will continue to update the markets on progress as appropriate.”

In June, Curzon raised £166,066 in a share placing. The funds were earmarked to support the company as it advances to the completion of the Sun Seven Stars transaction involving the London Critical Metals Market (LCMM).

“The scale of the transaction is expected to be significant, and as such carries with it a requirement for legal and financial support that we expect this raise to enable the company to procure,” Curzon chief executive Scott Kaintz said back in June.

“With sizeable opportunities come significant amounts of preparation and due diligence, and we are now in a strong position to drive forward this transaction, which if successfully completed, we believe would be transformational for Curzon,” he added.