Gunsynd PLC Angold Resources Ltd Update (6015J)
December 23 2020 - 2:00AM
UK Regulatory
TIDMGUN
RNS Number : 6015J
Gunsynd PLC
23 December 2020
Gunsynd plc
("Gunsynd" or the "Company")
Completion of Acquisition and TSXV listing date - Angold
Resources Ltd
Further to the announcements of 30 September and 1 October 2020,
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that
Angold Resources Ltd. (formerly, ZTR Acquisition Corp.) ("Angold")
has completed the acquisition (the "Transaction") of Federal Gold
Corp. ("Federal Gold"). The common shares of Angold are expected to
begin trading on the TSX Venture Exchange ("TSXV") on 31 December
2020 under the ticker symbol TSXV: AAU.
As announced on 30 September 2020, Gunsynd invested C$100,000
(approximately GBP58,000) into Angold, conditional on completion of
a fundraising and reverse takeover ("RTO") of Federal Gold. As a
result of the Transaction described above and completion of the
connected financing to raise gross proceeds of C$8,000,000, Gunsynd
will hold 712,500 ordinary shares in Angold (comprising 250,000
shares from the fundraising and the 462,500 existing shares held by
Gunsynd) representing approximately 0.85% of the enlarged share
capital of Angold.
About Angold Resources Ltd.
Angold is an exploration and development company targeting
large-scale mineral systems in the proven districts of the Ontario,
Maricunga and Nevada. Angold owns a 100% interest in the South-Bay
Uchi, Dorado and Cordillera projects, and certain claims that
append the optioned Iron Butte project.
Peter Ruse, a director of Gunsynd, commented: "We are pleased to
announce this update for the completion of the Angold/Federal Gold
RTO and the official listing date on the TSXV. The listing will
mark a meaningful step for Angold Resources as its looks to develop
its two core projects situated in the two very mining friendly
jurisdictions of Chile and Nevada, USA"
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
/ Mark Rogers +44 (0) 20 7213 0880
Peterhouse Capital Limited
Lucy Williams +44 (0) 20 7469 0936
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END
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