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Cash shell Electric Guitar PLC on Friday said it had agreed in principle to acquire Dunbar Energy Inc as part of a reverse takeover. Nevada, US-incorporated Dunbar was established to meet energy demand from the digital infrastructure sector. It has signed non-binding heads of terms for a 90-day exclusivity period with London-based Electric Guitar. According to the cash shell company: ‘Dunbar aims to convert coal mine methane and stranded gas in oil and gas wells into power for modular ’compute’ sites for data centres.’ It holds mining assets in the US state of Kentucky, and has interests in Louisiana wells. As of Friday, Dunbar is in exclusivity to acquire a proposed data centre site in Pennsylvania with working wells. Electric Guitar added that Dunbar has ‘a strong pipeline’ of opportunities under negotiation. Electric Guitar will issues new shares for the proposed takeover consideration, but provided no further financial details. The firm reported plans to pursue a cash shell strategy back in March 2025, and sought financing via subscription placings. Shares in Electric Guitar were suspended back in June, when the company noted it would need to complete a reverse takeover by December 25 to avoid cancellation from AIM. The reverse takeover deal is subject to approval from Electric Guitar shareholders and readmission to the market. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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