Oneiro Energy Set for Strategic Acquisition

Oneiro Energy PLC (GB:ONE) has released an update.

Oneiro Energy PLC, a company focusing on energy transition, has reached an agreement in principle to acquire the exploration arm of Switch Metals, which holds licences in Côte d’Ivoire for various battery and technology metals. The deal, considered a reverse takeover, will involve issuing new shares to Switch, with additional shares contingent on performance targets, and a working capital facility for development activities. The company’s shares have been temporarily suspended from trading as they prepare for the transaction, which is expected to close within the current financial year.

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