REG - Citius Resources PLC - Change of Adviser

Citius ResourcesAnnouncement

25/01/2022 07:05

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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: +44 (0)1624 681 250

                                      cp@pangaeaenergy.co.uk
 Tavira Securities Limited

 Jonathan Evans (Corporate Finance)   Tel: +44 (0)20 7330 1833

                                      jonathan.evans@tavirasecurities.com

 

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