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Zenith Energy ( (GB:ZEN) ) has provided an announcement.
Zenith Energy is spinning out its Italian uranium exploration portfolio, held via Futuro Energetico Italiano, into newly formed Reveille Resources Limited, a UK-based vehicle that plans to list on the Aquis Growth Market. Reveille, founded by Ajax Resources CEO Ippolito Ingo Cattaneo and Zenith CEO Andrea Cattaneo, will target undervalued historical mineral deposits across Europe, with the Lombardy uranium assets as its flagship.
Zenith and Ajax will each invest £200,000 for 25% stakes in Reveille, while Zenith will also be reimbursed £350,000 in Reveille shares for past project costs, positioning it as the company’s largest shareholder. The move gives Zenith shareholders ongoing exposure to Italy’s largest known uranium resource base, underpinned by legacy underground infrastructure and a more supportive Italian and European policy backdrop for nuclear energy and critical raw materials.
More about Zenith Energy
Zenith Energy Ltd. is an independent, revenue-generating energy company with production, exploration and development assets in North Africa, the U.S. and Europe. The company is listed in London, Oslo and on Sweden’s Spotlight market, and focuses on developing proven producing energy assets alongside low-risk exploration tied to existing production.
Average Trading Volume: 1,570,517
Technical Sentiment Signal: Buy
Current Market Cap: £45.44M
See more data about ZEN stock on TipRanks’ Stock Analysis page.