Pursuant to a Heads of Terms reached 5 Oct â17, Sound announces this morning it has entered into a binding conditional sale and purchase agreement with Saffron Energy under which it is proposed that Saffron acquires Soundâs portfolio of Italian interests and permits. For the record, the text run in the DEA 5 Oct â17 sums up the story:  âSound has entered into non-binding conditional heads of terms with Saffron and Po Valley Energy under which it is proposed that Sound disposes of its Italian assets through the sale of Sound subsidiaries Appenine Energy and its holding company Sound Energy Holdings to Saffron in a share deal.  The disposal, along with the grant by Po Valley to Saffron of an option to acquire its share capital, will result in the combination of the assets of Sound, Saffron and Po Valley. This in turn will result in the creation of Coro Energy plc to run these holdingsâ. For the list of permits involved (16), please visit GEPS. Â  Â 
Saffron Energy has agreed to acquire the Italian assets of Sound Energy and Po Valley Operations.