Admission and First Day of Dealings

RNS Number : 6703J

Citius Resources PLC

25 August 2021

 

25 August 2021

Citius Resources Plc

("Citius" or the "Company")

Admission to Trading and First Day of Dealings

Citius Resources Plc, an investment company seeking to acquire a company or project in precious and/or base metals, is pleased to announce the admission of its entire issued share capital, being 43,250,000 ordinary shares of £0.005 each ("Ordinary Shares"), to the Official List (by way of a Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities (the "Admission"). The Company has raised a total of £1,120,000 since incorporation including £560,000 through a placing of 14,000,000 Ordinary Shares at 4p ("IPO Placing") by Brandon Hill Capital, broker to the Company.

Cameron Pearce, Chief Executive Officer commented:

"The Board of Citius and its advisory team comprise a knowledgeable and experienced group of professionals with the relevant skills and expertise to successfully source, structure and complete acquisitions in the mining sector to deliver upon our strategy to return substantial value to investors. As such we are pleased to be listing upon the Official list of the main market and will provide the market with updates in due course, as we begin to review investment opportunities."

About Citius

Citius Resources Plc was incorporated in England and Wales on 15 April 2020 and was formed to undertake the acquisition of a target company or business (the "Acquisition").

Following completion of an Acquisition, the objective of the Company will be to operate the acquired business and implement an operating strategy with a view to generating value for its Shareholders through operational improvements as well as potentially through additional complementary acquisitions following the Acquisition. Following the Acquisition, the Company intends to seek re-admission of the enlarged group to listing on the Official List and trading on the London Stock Exchange or admission to another stock exchange.

The Company's efforts in identifying a prospective target company or business will not be limited to a particular industry or geographic region. However, given the experience of the Directors, the Company expects to focus on acquiring an exploration or production company or business in the precious and base metals sector with either all or a substantial portion of its operations in Europe, Africa, and the Middle East. 

When assessing a potential Acquisition, the Board will pay particular attention to the following overriding factors:

• the existence of production and/or potential production which will over time provide cash flow for the business;

• strong exploration potential in known precious and base metals producing areas;

• the quality of the management; and

• an established track record of developing precious and base metals assets.

Dealing Codes

ISIN	GB00BMGRFP88
SEDOL	BMGRFP8
TIDM	CRES

Prospectus

The Prospectus published by the Company's on 19 August 2021 in connection with Admission can be found at www.citiusresources.co.uk and will also be available at the FCA's Document Storage Mechanism at  National Storage Mechanism | FCA 

Contact details: Citius Resources Plc Cameron Pearce	Tel: [phone] [e-mail]
Brandon Hill Capital Limited Jonathan Evans (Corporate Finance)	Tel: [phone] [e-mail]

 

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