REG - Gunsynd PLC - Further Investment – First Tin PLC

GunsyndAnnouncement

08/04/2022 07:30

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RNS Number : 7752H  Gunsynd PLC  08 April 2022

Gunsynd plc

 

("Gunsynd" or the "Company")

 

Further Investment - First Tin PLC

 

Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that it has invested
£75,000 in the Initial Public offering of First Tin PLC (LSE:1SN) (formerly
Anglo Saxony Mining Limited) ("First Tin"), a tin development and exploration
company.

 

The First Tin investment was executed on the following terms:

·    subscription for 250,000 ordinary shares at 30 pence per share for a
total consideration of £75,000 from the Company's existing cash resources;

·    this investment is in addition to the previous investment announced
24 March 2021 whereby Gunsynd acquired 833,333 ordinary shares at 15 pence per
share for a total consideration of £125,000; Gunsynd will hold approximately
0.4% of First Tin on admission to trading on the London Stock Exchange
Standard Segment ("Admission");

·    following this capital raise First Tin will have 265,534,972 shares
in issue with a market cap of approximately £80m;

·    Gunsynd's investment is a part of a £20m capital raise supported by
institutional investors by way of a Placing and Subscription and UK retail
investors through the PrimaryBid mobile app; and

·    funds will be used for resource expansion drilling, feasibility/mine
development studies and land acquisition cost. First Tin's issued ordinary
share capital has today been admitted to trading on the London Stock Exchange
Standard Segment.

 

About First Tin PLC

On Admission, First Tin will own 100% of two advanced tin projects, one in
Germany and one in Australia, and is looking to rapidly move them into
production in order to be able to deliver a sustainable answer to the chronic
supply shortage currently faced by many industrial users of tin. Immediately
following Admission, the First Tin Board intends to commence the process by
which it will obtain a dual listing on the ASX in Australia and will also
apply to secure a secondary listing in Frankfurt.

 

Given First Tin has operations located in Germany and Australia, its board
considers that enabling direct access to the shares in those jurisdictions
will be beneficial to share price performance, liquidity and in further
expanding its shareholder base.

 

The long term vision of First Tin is to become a leading global tin producer
which will supply fully traceable and verifiable tin units into those global
industries which have a high requirement for tin.

These industries include the electric vehicle, renewable energy, energy
storage, mobile telephony and

semi-conductor sectors which are currently experiencing strong demand growth.

 

In the year ended 31 December 2020, First Tin had no turnover and had total
comprehensive income of £179,518.

 

Peter Ruse, a director of Gunsynd, commented: "Gunsynd is pleased to have the
opportunity to add to its existing investment by way of the First Tin's
Admission. First Tin has an exciting tin development and exploration strategy
via its assets in both Western Europe and now Australia. First Tin is
committed to the environmentally sensitive development of advanced hard rock
tin projects in conflict free, low political risk jurisdictions. We are very
excited by the active resource expansion programmes which will be carried out
on both projects following the IPO."

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
Company's ability to execute and implement future plans, and the occurrence of
unexpected events.  Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.

 

For further information please contact:

 

 Gunsynd plc

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

 Cairn Financial Advisers LLP

 James Caithie / Liam Murray   +44 (0) 20 7213 0880

 Peterhouse Capital Limited

 Lucy Williams                 +44 (0) 20 7469 0936

 

 

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