Change of Adviser

RNS Number : 5427Z

Citius Resources PLC

25 January 2022

 

25 January 2022

Citius Resources Plc

("Citius" or the "Company")

Appointment of Broker

Citius Resources Plc (LSE: CRES), an investment company seeking to acquire a company or project in precious and/or base metals is pleased to announce the appointment of Tavira Securities Limited ("Tavira") as broker to the Company. Tavira has recruited senior personnel from former broker, Brandon Hill Capital Limited.

Cameron Pearce, Chief Executive Officer commented:

"I am delighted to announce the appointment of Tavira Securities as Citius' broker and the continuation of the relationship with those individuals who were instrumental in funding and listing the Company last year.

Following the recent updates to the Listing Rules by the FCA concerning investment companies, we now have clarity to pursue our investment strategy in the full knowledge that the Company can complete an acquisition and re-list on the standard list for a period of 18 months from 3 December 2021. We have been busy reviewing and filtering numerous projects and opportunities and will to provide a further update in due course."

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.

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

 

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