Gunsynd PLC Further Investment in Oyster Oil and Gas (8880E)
May 11 2017 - 6:45AM
UK Regulatory
TIDMGUN
RNS Number : 8880E
Gunsynd PLC
11 May 2017
Gunsynd plc
("Gunsynd" or the "Company")
Further Investment in Oyster Oil and Gas
Gunsynd Plc (AIM: GUN, NEX: GUN) is pleased to announce that it
has entered into a subscription agreement with Oyster Oil & Gas
("Oyster"), a junior oil and gas E&P company quoted on the
Toronto Venture Exchange in Canada to invest CAD425,000
(approximately GBP247,000) as part of a wider fundraising
("Fundraising").
Highlights:
Oyster is listed on the TSV Venture Exchange (TSX-V: OY) and is
an international energy group focused on oil and gas exploration
and production activities in underexplored hydrocarbon basins.
Oyster currently operates 4 blocks in the Republic of Djibouti
(100% interest); 3 blocks are located onshore and 1 block offshore,
and also the sole interest holder in 1 onshore block in the
Republic of Madagascar.
Gunsynd already holds 2,000,000 shares in Oyster which it
acquired in January and March 2017 for a total consideration of
GBP290,000; following today's subscription, Gunsynd will hold
3,062,500 shares in Oyster.
Terms of the investment:
Gunsynd is investing CAD425,000 (approximately GBP247,000) at a
price of CAD0.40 for 1,062,500 shares in Oyster. The Company will
also receive one warrant for every two shares subscribed for, at a
strike price of CAD0.45 exercisable up to 18 months following
closing of the Fundraising.
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:
+44 (0) 20 7440 0640
Hamish Harris
Nominated Adviser/NEX Exchange Corporate Adviser
+44 (0) 20 7213 0880
Cairn Financial Advisers LLP
James Caithie / Liam Murray
Peterhouse Corporate Finance (Joint Broker)
+44 (0)20 7469 0930
Lucy Williams
This information is provided by RNS
The company news service from the London Stock Exchange
END
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