RCS - Gunsynd PLC - Low6 announces Agreement for RTO of 735 BC

GunsyndAnnouncement

02/02/2022 10:30

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RNS Number : 4683A  Gunsynd PLC  02 February 2022

2 February 2022

Gunsynd plc

("Gunsynd" or the "Company")

Low6 announces Agreement for RTO of 735 BC

Gunsynd is pleased to provide an update on its investment in Low6 Limited
("Low6"), which has developed a next-generation sports betting platform.

Low6 has announced that it has entered into a binding letter agreement (the
"Agreement") with 1319735 B.C. Ltd. ("735 BC"). The Agreement sets forth, in
general terms, the basic terms and conditions upon which Low6 and 735 BC will
combine business operations resulting in a reverse takeover (the "RTO") of 735
BC by Low6 and its shareholders.

 

Pursuant to the terms of the Agreement, it is intended that Low6 and 735 BC
will enter into a business combination by way of an arrangement, amalgamation,
share exchange or other similar structure (the "Transaction") which will
result in Low6 becoming a wholly owned subsidiary of 735 BC or otherwise
combining its corporate existence with that of 735 BC. The issuer resulting
from the Transaction (the "Resulting Issuer") will carry on the current
business of Low6.

 

Prior to the completion of the Transaction, the parties will complete a
private placement (the "Concurrent Financing"). Low6 and 735 BC intend to
apply to list the common shares of the Resulting Issuer on the TSX Venture
Exchange (the "TSXV"). There can be no assurance that the common shares of the
Resulting Issuer will begin trading as contemplated, or at all, and neither
Low6 nor 735 BC make any representations that trading will occur.

 

Completion of the Transaction and the Concurrent Financing is subject to a
number of conditions, including but not limited to, receiving all required
shareholder, regulatory, and other approvals. There can be no assurance that
the Transaction or the Concurrent Financing will be completed as proposed or
at all.

 

 

For further information please contact:

 

 Gunsynd plc

 Hamish Harris/ Peter Ruse   +44 (0) 78 7958 4153

 Peterhouse Capital Limited

 Lucy Williams               +44 (0) 20 7469 0936

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