Lionheart, Keo Sign Letter of Intent for Business Combination
MT Newswires Live
Jul 21
Lionheart (CUB), a blank check firm, has struck a non-binding letter of intent with Keo Capital for the business combination with its unit, KEO Energy, according to a news release Monday.
The merger would result in a Nasdaq listing of KEO Energy, which has an indicative pre-money enterprise value of $400 million, the statement said. They plan to finalize an agreement by Aug. 17.
KEO Energy's principal asset is an indirect stake in a joint venture holding interests in the PetroUrdaneta Project in the Bolivarian Republic of Venezuela, it said.
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