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Zenith Energy Advancing Spin-out of Italian Uranium Exploration Business

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Zenith Energy (ZENA.OL, ZEN.L) said Thursday the spin-out of its Italian uranium exploration business into a European-focused investment company, Reveille Resources, is progressing.

The energy company noted that its unit Canoel Italia transferred exploration license applications for two uranium deposits in Lombardy, Italy, to a special purpose vehicle, Futuro Energetico Italiano, set up to hold and develop the licenses.

Zenith Energy has formalized plans to spin out Futuro Energetico Italiano to Reveille and apply for listing on the Acquis Growth Market in London.

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