Boris Johnson, the front-runner to replace Theresa May as U.K. prime minister, warned Conservative Party colleagues that they face "extinction" if they didn't deliver Brexit by the current deadline of Oct. 31.

"We are facing an existential crisis and will not be forgiven if we do not deliver," Johnson told a private meeting of Tory members of Parliament, according to his office. "There is a very real choice between getting Brexit done and the potential extinction of this great party."

He was speaking after the Conservatives set out an accelerated procedure for selecting a new leader that will see a prime minister in place by July 26. The party has raised the bar for MPs who wish to run for the job, and two dropped out Tuesday, narrowing the field slightly to 11.