Gunsynd PLC New Investment - DiscovOre plc (8459W)
April 28 2021 - 2:24AM
UK Regulatory
TIDMGUN
RNS Number : 8459W
Gunsynd PLC
28 April 2021
Gunsynd plc
("Gunsynd" or the "Company")
New Investment - DiscovOre plc
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that it
has invested GBP200,000 in DiscovOre plc, an Aquis Growth Market
quoted investing company ("DiscovOre", AQSE "ORE").
This investment was made on the following terms:
- Subscription for 10,000,000 ordinary shares at a price of 2p
per share for a total consideration of GBP200,000;
- This investment is a part of a GBP3.5m funding round.
DiscovOre intends to call a general meeting to approve a new
investment strategy, in the medical psychedelic industry. The
primary focus of this proposed new investment strategy will be to
invest into businesses or assets involved in the development of
potential treatments for mental health issues which include, but
are not limited to:
1) Drug-resistant depression;
2) Anxiety;
3) Addiction; and
4) Post-Traumatic Stress Disorder.
Subject to shareholder approval of its new investment strategy,
DiscovOre intends to use funds raised to invest in a new disruptive
healthcare sector in the psychedelic medicine space and related
businesses in this sector. It intends to invest in fully regulated
and approved psychedelic medicines that its directors believe are
fast becoming accepted as treatments not least in the area of
mental health.
Almost a billion people suffer from mental health problems
worldwide, according to the World Health Organisation. Studies have
shown that psychedelics may be able to treat disorders such as
depression, anxiety, substance addiction, and obsessive compulsive
disorders. Canaccord estimates the market for psychedelic-inspired
treatments at up to $100BN.
Mental ill health is the single largest cause of disability in
the UK, contributing up to 22.8% of the total burden, compared to
15.9% for cancer and 16.2% for cardiovascular disease. The wider
economic costs of mental illness in England have been estimated at
GBP105.2 billion each year. This includes direct costs of services,
lost productivity at work and reduced quality of life. The NHS in
England planned to spend GBP12.2 billion on mental health in
2018/19.
Hamish Harris, director Gunsynd plc, commented "The board of
Gunsynd is pleased to be able to invest in this area as mental
health is increasingly getting the attention it deserves. We have
looked at many investments in life sciences as part of our
investment policy and have until now not invested in this area.
This investment, however, fits in with our policy of picking
emerging trends in the market particularly where we consider there
could be a first mover advantage combined with the possibility of
helping to alleviate a significant societal issue."
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation.
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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