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Gunsynd Plc LSE:GUN London Ordinary Share GB00BMD6PM55 ORD 0.085P
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Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 -1.0 -1.1 - 5

Gunsynd PLC Investment in Charger Metals Limited

17/06/2021 11:55am

UK Regulatory (RNS & others)

Gunsynd (LSE:GUN)
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RNS Number : 2721C

Gunsynd PLC

17 June 2021

Gunsynd plc

("Gunsynd" or the "Company")

Investment in Charger Metals Limited


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:

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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(END) Dow Jones Newswires

June 17, 2021 06:55 ET (10:55 GMT)

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