AUC Mining (U) Limited entered into binding heads of agreement to acquire Citius Resources Plc (LSE: RES) for £1.3 billion in a reverse merger transaction.

AUC Mining (U) Limited entered into binding heads of agreement to acquire Citius Resources Plc (LSE: RES) for £1.3 billion in a reverse merger transaction on June 9, 2022. The consideration shall be satisfied through the issuance of 43.24 billion shares of Citius Resources plc. Transaction remains subject to due diligence and re-listing of the enlarged group on the Official List.