Arkon Energy US Holdco LLC entered into a term sheet to acquire BM3EAC Corp. in a reverse merger transaction.

Arkon Energy US Holdco LLC entered into a term sheet to acquire BM3EAC Corp. (ENXTAM:BACE) in a reverse merger transaction on February 21, 2024. The consummation of this Potential Business Combination would result in the business becoming publicly listed on Europe's largest stock exchange.

The Potential Business Combination is subject to certain pre-conditions including the completion of satisfactory due diligence by each party, respective board approvals, completion of definitive agreements and the successful completion of a convertible debt capital raise process.