Company had been on a near year-long search for an investor
Corre Energy, which is developing large scale storage solutions for renewable energy in Europe, has seen its share price plunge more than 85% over the past year.
The company has not given details on the funding solutions. It follows a near year-long search for a major investor. The company’s share price slid in the meantime as the company ran through cash and had to resort to emergency loans from existing investors. “The board also believes it is more appropriate and practical to undergo any further changes required to its operating model outside the constraints of market announcement obligations and confidentiality constraints.”
This facility is expected to be provided by PJ Jenkins, a London-based platform used by private companies for trading their shares.
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