TIDMCRES

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 GBP0.005 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 GBP1,120,000 since incorporation including GBP560,000 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: +44 (0)1624 681 250 
                                         cp@pangaeaenergy.co.uk 
 Brandon Hill Capital Limited 
  Jonathan Evans (Corporate Finance)     Tel: +44 (0)20 3463 5000 
                                         jonathan.evans@brandonhillcapital.com 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

LISLZLLLFVLFBBV

(END) Dow Jones Newswires

August 25, 2021 02:00 ET (06:00 GMT)

Citius Resources (LSE:CRES)
Gráfica de Acción Histórica
De Nov 2021 a Dic 2021 Haga Click aquí para más Gráficas Citius Resources.
Citius Resources (LSE:CRES)
Gráfica de Acción Histórica
De Dic 2020 a Dic 2021 Haga Click aquí para más Gráficas Citius Resources.