Gunsynd PLC Investment in Charger Metals Limited (2721C)
June 17 2021 - 6:55AM
UK Regulatory
TIDMGUN
RNS Number : 2721C
Gunsynd PLC
17 June 2021
Gunsynd plc
("Gunsynd" or the "Company")
Investment in Charger Metals Limited
and
Partial Disposal of Shares in Empress Royalty Corp
Gunsynd Plc (AIM: GUN, AQSE: GUN) announces that it has invested
A$400,000 (approximately GBP218,000) in Charger Metals Limited
("Charger"), an Australian Base metals and Lithium exploration
company, as part of its Initial Public Offering (IPO) listing onto
the Australian Securities Exchange (ASX).
Charger recently lodged a prospectus with the Australian
Securities and Investments Commission (ASIC) for an Initial Public
Offering (IPO) to list its entire issued share capital on the ASX
and to raise a minimum of A$6 million, with the listing targeted
for Q3 2021. A further update will be made in due course.
Gunsynd has received confirmation of acceptance from the Lead
Manager of the Charger IPO for Gunsynd's subscription via a firm
IPO subscription agreement of 2,000,000 ordinary shares at A$0.20
for the total sum of A$400,000.
This investment follows the Company's initial investment in
Charger in November 2020 via a seed capital raising whereby Gunsynd
acquired 1,600,000 ordinary shares at A$0.05 for the total sum of
A$80,000 (approximately GBP43,000) ("Seed Shares"). Of the Seed
Shares, 1,200,000 shares will be subject to an escrow period of 24
months following the IPO.
Subject to raising A$6 million and the IPO taking place, Charger
will have 50,400,001 shares in issue. Gunsynd will hold 3,600,000
shares in Charger representing approximately 7.14% of the company
issued share capital.
Further to the announcement of 23 April 2021, Gunsynd advises
that it has partially disposed of a further 386,000 shares in
Empress Royalty Corp ("Empress") for approximately CAD$158,000
(approximately GBPGBP93,000). Following this disposal, Gunsynd
continues to hold 214,000 shares in Empress.
About Charger Metals Limited
Charger Metals is a Western Australian ("WA") focused Base
metals (Ni,Cu,Co-PGE) and Lithium exploration company. It currently
holds the rights to three highly prospective projects in WA and the
Northern Territory in Australia. Charger has secured options to
acquire 85% of the Coates North and 70% interest in the adjacent
Coates Ni-Cu-Co-PGE Prospect (WA), 70% interest in the Lake Johnson
Lithium and Gold Project (WA) and 70% interest in the Bynoe Lithium
and Gold Project (NT).
For further information please visit the website:
https://chargermetals.com.au
Peter Ruse, Gunsynd PLC Director, commented: "Gunsynd is pleased
to inform shareholders of its investment in Charger Metals, an
exciting new exploration company with a suite of well-located
assets targeting base metals and Lithium orebodies. We look forward
to updating shareholders on the progress of the ASX IPO
listing."
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
For further information please contact:
Gunsynd plc
Hamish Harris/ Peter Ruse +44 (0) 78 7958 4153
Cairn Financial Advisers LLP
James Caithie / Liam Murray / Mark Rogers +44 (0) 20 7213 0880
Peterhouse Capital Limited
Lucy Williams +44 (0) 20 7469 0936
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