REG - Gunsynd PLC - Placing and Issue of Warrants

GunsyndAnnouncement

03/09/2024 07:00

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RNS Number : 6160C  Gunsynd PLC  03 September 2024

Gunsynd Plc

("Gunsynd" or the "Company")

Placing and Issue of Warrants

Gunsynd (AIM: GUN) is pleased to announce that it has raised gross proceeds of
£250,000 through the issue of 200,000,000 new ordinary shares of 0.085 pence
("Placing Shares") each at a price of 0.125 pence per Placing Share (the
"Placing Price") (the "Placing"). Placees will also receive one warrant for
every two ordinary shares subscribed for, exercisable at 0.2 pence from the
date of Admission (defined below) and expiring on the one-year anniversary of
the date of Admission (the "Placing Warrants"). In aggregate, 100,000,000
Placing Warrants will be issued.

The net proceeds of the Placing will be used to provide the Company with
additional funding for general working capital, making investments in line
with its stated investing policy and progressing its activities particularly
with respect to its recent Canadian acquisitions being the Bear Twit, Falcon
and West Dismal projects.

Certain directors of the Company have subscribed for, in aggregate, 24,000,000
new ordinary shares at the Placing Price ("Director Participation"). Details
of the Director Participation are set out below:

 Name           Amount    No. of Ordinary Shares to be issued  No. of Placing Warrants to be issued  Resulting                                       Resulting % shareholding following Director Participation

                                                                                                     shareholding following Director Participation
 Donald Strang  £20,000   16,000,000                           8,000,000                             34,820,211                                      3.71%
 Hamish Harris  £10,000   8,000,000                            4,000,000                             11,161,476                                      1.19%

 Total          £30,000   24,000,000                           12,000,000                            45,981,687                                      4.90%

Related Party Transaction

The Director Participation in the Placing constitutes a related party
transaction for the purposes of Rule 13 of the AIM Rules by virtue of Donald
Strang and Hamish Harris both being directors of the Company and therefore
related parties (the "Transaction"). Peter Ruse, being the director of the
Company independent of the Transaction considers, having consulted with Cairn
Financial Advisers LLP, the Company's nominated adviser for the purposes of
the AIM Rules, that the terms of the Transaction are fair and reasonable in so
far as shareholders are concerned.

Admission of the New Ordinary Shares

Application will be made to the London Stock Exchange to admit the Placing
Shares ("New Ordinary Shares") to trading on AIM ("Admission"). Admission of
the new ordinary shares is expected to occur on or around 10 September 2024.
The New Ordinary Shares will rank pari passu with the existing ordinary
shares.

Total Voting Rights following Admission

For the purpose of the Disclosure and Transparency Rules, following Admission,
the enlarged issued share capital of the Company will comprise 939,745,223
ordinary shares of 0.085p each. The above figure may be used by shareholders
as the denominator for the calculations by which they will determine if they
are required to notify their interest in, or a change to their interest in,
the Company, under the Disclosure and Transparency Rules.

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.

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                                   +44 (0) 78 7958 4153

 Hamish Harris/ Peter Ruse

 Cairn Financial Advisers LLP                  +44 20 7213 0880

 James Caithie / Liam Murray / James Western

 Peterhouse Capital Limited                    +44 20 7469 0936

 Lucy Williams

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 1   Details of the persons discharging managerial responsibilities / person
     closely associated

 a)  Name                                    Donald Strang

 2   Reason for the notification

 a)  Position/Status                         Executive Director

 b)  Initial notification/ Amendment         Initial notification

 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor

 a)  Name                                    Gunsynd plc

 b)  LEI                                     21380068N2D57QUG1L78

 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted

 a)  Description of the financial

     instrument, type of

     instrument                              Ordinary shares of 0.085 pence each

     Identification code

                                             GB00BMD6PM55

 b)  Nature of the transaction               Purchase of ordinary shares as part of the Placing

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                             0.125p    16,000,000

 
 d)  Aggregated information

     -      Aggregated volume

     -      Price

 e)  Date of transaction                     3 September 2024

 f)  Place of transaction                    London Stock Exchange

 

d)

Aggregated information

 

-      Aggregated volume

 

-      Price

 

 

 

 

 

e)

Date of transaction

 

3 September 2024

f)

Place of transaction

 

London Stock Exchange

 

 1   Details of the persons discharging managerial responsibilities / person
     closely associated

 a)  Name                                    Hamish Harris

 2   Reason for the notification

 a)  Position/Status                         Executive Chairman

 b)  Initial notification/ Amendment         Initial notification

 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor

 a)  Name                                    Gunsynd plc

 b)  LEI                                     21380068N2D57QUG1L78

 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted

 a)  Description of the financial

     instrument, type of

     instrument                              Ordinary shares of 0.085 pence each

     Identification code

                                             GB00BMD6PM55

 b)  Nature of the transaction               Purchase of ordinary shares as part of the Placing

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                             0.125p    8,000,000

 
 d)  Aggregated information

     -      Aggregated volume

     -      Price

 e)  Date of transaction                     3 September 2024

 f)  Place of transaction                    London Stock Exchange

 

d)

Aggregated information

 

-      Aggregated volume

 

-      Price

 

 

 

 

 

e)

Date of transaction

 

3 September 2024

f)

Place of transaction

 

London Stock Exchange

 

 1   Details of the persons discharging managerial responsibilities / person
     closely associated

 a)  Name                                    Donald Strang

 2   Reason for the notification

 a)  Position/Status                         Executive Director

 b)  Initial notification/ Amendment         Initial notification

 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor

 a)  Name                                    Gunsynd plc

 b)  LEI                                     21380068N2D57QUG1L78

 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted

 a)  Description of the financial

     instrument, type of

     instrument                              Warrants over new ordinary shares of 0.085 pence each

     Identification code                     GB00BMD6PM55

 b)  Nature of the transaction               Issue of 1 warrant for every 2 shares subscribed for in the Placing

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                             0.125p    8,000,000

 
 d)  Aggregated information

     -      Aggregated volume

     -      Price

 e)  Date of transaction                     3 September 2024

 f)  Place of transaction                    London Stock Exchange

 

d)

Aggregated information

 

-      Aggregated volume

 

-      Price

 

 

 

 

 

e)

Date of transaction

 

3 September 2024

f)

Place of transaction

 

London Stock Exchange

 

 1   Details of the persons discharging managerial responsibilities / person
     closely associated

 a)  Name                                    Hamish Harris

 2   Reason for the notification

 a)  Position/Status                         Executive Chairman

 b)  Initial notification/ Amendment         Initial notification

 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor

 a)  Name                                    Gunsynd plc

 b)  LEI                                     21380068N2D57QUG1L78

 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted

 a)  Description of the financial

     instrument, type of

     instrument                              Warrants over new ordinary shares of 0.085 pence each

     Identification code

                                             GB00BMD6PM55

 b)  Nature of the transaction               Issue of 1 warrant for every 2 shares subscribed for in the Placing

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                             0.2 p     4,000,000

 
 d)  Aggregated information

     -      Aggregated volume

     -      Price

 e)  Date of transaction                     3 September 2024

 f)  Place of transaction                    London Stock Exchange

 

d)

Aggregated information

 

-      Aggregated volume

 

-      Price

 

 

 

 

 

e)

Date of transaction

 

3 September 2024

f)

Place of transaction

 

London Stock Exchange

 

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