Gunsynd PLC New Investment - Low 6 Limited (4555I)
December 14 2020 - 2:00AM
UK Regulatory
TIDMGUN
RNS Number : 4555I
Gunsynd PLC
14 December 2020
Gunsynd plc
("Gunsynd" or the "Company")
New Investment - Low 6 Limited
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that it
has invested GBP 200,010 in Low 6 Limited ("Low6"), a UK-based,
influencer-led, B2B pool betting platform for franchises around the
world. Low6 offers a white-label pool betting platform for
professional sports franchises.
This investment in Low6 was made on the following terms:
-- subscription for 6,667 ordinary shares at a price of GBP30
per share for a total consideration of GBP 200,010 ; and
-- this investment is a part of a GBP1.5m funding round.
The board of Gunsynd believes there is significant demand for a
sports betting product which is built and designed to match the
excitement of watching sports and which is also engaging and simple
to use. Low6 provides a white-labelled mobile platform to its
partners which enables them to offer a pooled sports betting
experience to their app users and allows users to bet with each
other.
Under its B2B model, Low6 partners with a sports team/franchise,
such as a UK football club. The model reduces customer acquisition
costs and strengthens brand and customer loyalty, which enhances
customer retention. Low6 can either embed its platform within its
partners' apps or build the app for its partners. The board of
Gunsynd believes the Low6 partnership model is also highly
scalable.
Low6 has a number of significant partnerships including Yinzcam
Inc. which has 90+ million installs of its mobile sports and events
apps world-wide and currently serves 190+ professional teams,
leagues, events and venues in the US, Canada, Spain and
Australia.
Low6 has raised over GBP8 million to date and expects to raise
additional funds through a pre-IPO funding round with a view to
completing an IPO at some stage throughout 2021.
An entity in which Peter Ruse, a Director of Gunsynd, has an
interest, has subscribed for 916 shares for consideration of
GBP27,500 at a price of GBP30 per share as part of the same funding
round.
Hamish Harris, Gunsynd Plc Director, commented: "Gunsynd is very
pleased to participate in this capital raising into Low 6 Limited.
The investment offers exposure to what we believe to be an exciting
sector of pooled sports betting where Low6 participants can wager
against each other rather than a bookmaker. We believe Low6 is
unique in that it partners with the sports team/franchises on a B2B
model, reducing player/user acquisition costs, strengthening brand
and customer loyalty, thereby reducing marketing costs and
enhancing player retention."
About Low6 Limited
Low6 Limited a next generation sports betting platform. Further
information can be found at https://low6.co.uk
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
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.
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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END
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