REG - Gunsynd PLC - Further investment in Charger Metals NL

GunsyndAnnouncement

20/09/2022 07:00

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RNS Number : 9421Z  Gunsynd PLC  20 September 2022

20 September 2022

Gunsynd plc

 

("Gunsynd" or the "Company")

 

Further investment in Charger Metals NL

 

 

Gunsynd Plc (AIM: GUN, AQSE: GUN) announces that it has invested a further
AUD$175,000 (approximately £100,000) into one of its investee companies,
Charger Metals NL ("Charger") (ASX: CHR), an ASX listed Australian lithium and
base metals exploration company.

 

The Gunsynd investment is part of a capital raise of AUD$5.5 million announced
on 19 September 2022 by Charger (consisting of 11 million shares at AUD 50
cents per share) ("Capital Raise") supported by existing and new investors.
Gunsynd has signed a placement commitment letter for 350,000 shares at AUD 50
cents per share for a total consideration of AUD$175,000, from the Company's
existing cash resources.

 

Charger proposes to use funds from the Capital Raise (after administration
costs) predominantly on exploration activities including drilling to advance
the Company's Bynoe and Lake Johnston Lithium Projects.

 

Following the Capital Raise, Gunsynd will hold 3,175,000 ordinary shares in
Charger representing approximately 5.12% of Charger's issued share capital.

 

For the year ended 30 June 2021, Charger had turnover of AUD$ nil and made a
loss of AUD$379,859.

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014.

 

The Directors of Gunsynd accept responsibility for 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   +44 (0) 20 7213 0880

 Peterhouse Capital Limited

 Lucy Williams                 +44 (0) 20 7469 0936

 

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