Gunsynd PLC Additional Investment - Low6 (4280Q)
February 26 2021 - 2:00AM
UK Regulatory
TIDMGUN
RNS Number : 4280Q
Gunsynd PLC
26 February 2021
Gunsynd plc
("Gunsynd" or the "Company")
Additional Investment - Low6
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce has
made an additional investment into its investee company Low6
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.
Gunsynd has participated in this financing round investing
A$117,000 (approximately GBP65,000) via a convertible loan note
("CLN").
In Q4 2020, Low6 closed a pre-IPO round, organised by Canaccord
Genuity. As announced on 14 December 2020, Gunsynd subscribed for
6,667 ordinary shares at a price of GBP30 per share for a total
consideration of GBP200,010 .
Low6 will use the proceeds from this fundraising to continue to
implement its growth strategy, for general working capital and for
preparation costs for its forthcoming IPO,, with a listing targeted
for the first half of 2021.
Peter Ruse, Gunsynd P lc Director, commented: "Gunsynd is
delighted to increase its investment in Low6 via the extended
pre-IPO capital raising. We believe Low6 is now well-funded to
accelerate all of its growth aspirations across numerous B2B
partnered apps and standalone apps. This segment of the market
continues to attract us, as we are seeing the continued
deregulation of sports betting across a number states in the USA
offering a strong market backdrop."
About Low6 Limited
Low6 Limited a next generation sports betting platform. Further
information can be found at https://low6.co.uk
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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