Gunsynd PLC Low6 announces Agreement for RTO of 735 BC
February 02 2022 - 5:29AM
RNS Non-Regulatory
TIDMGUN
Gunsynd PLC
02 February 2022
2 February 2022
Gunsynd plc
("Gunsynd" or the "Company")
Low6 announces Agreement for RTO of 735 BC
Gunsynd is pleased to provide an update on its investment in
Low6 Limited ("Low6"), which has developed a next-generation sports
betting platform.
Low6 has announced that it has entered into a binding letter
agreement (the "Agreement") with 1319735 B.C. Ltd. ("735 BC"). The
Agreement sets forth, in general terms, the basic terms and
conditions upon which Low6 and 735 BC will combine business
operations resulting in a reverse takeover (the "RTO") of 735 BC by
Low6 and its shareholders.
Pursuant to the terms of the Agreement, it is intended that Low6
and 735 BC will enter into a business combination by way of an
arrangement, amalgamation, share exchange or other similar
structure (the "Transaction") which will result in Low6 becoming a
wholly owned subsidiary of 735 BC or otherwise combining its
corporate existence with that of 735 BC. The issuer resulting from
the Transaction (the "Resulting Issuer") will carry on the current
business of Low6.
Prior to the completion of the Transaction, the parties will
complete a private placement (the "Concurrent Financing"). Low6 and
735 BC intend to apply to list the common shares of the Resulting
Issuer on the TSX Venture Exchange (the "TSXV"). There can be no
assurance that the common shares of the Resulting Issuer will begin
trading as contemplated, or at all, and neither Low6 nor 735 BC
make any representations that trading will occur.
Completion of the Transaction and the Concurrent Financing is
subject to a number of conditions, including but not limited to,
receiving all required shareholder, regulatory, and other
approvals. There can be no assurance that the Transaction or the
Concurrent Financing will be completed as proposed or at all.
For further information please contact:
Gunsynd plc
Hamish Harris/ Peter Ruse +44 (0) 78 7958 4153
Peterhouse Capital Limited
Lucy Williams +44 (0) 20 7469 0936
This communication is a "Reach" announcement. Reach is a
non-regulatory news service. By using this service an issuer is
confirming that the information contained in this announcement is
of a non-regulatory nature. Information required to be notified
under the AIM Rules for Companies, Market Abuse Regulation or other
regulation would be disseminated as an RNS regulatory announcement
and not on RNS Reach.
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRASSFFSEEESEEE
(END) Dow Jones Newswires
February 02, 2022 05:29 ET (10:29 GMT)
Gunsynd (LSE:GUN)
Historical Stock Chart
From May 2024 to Jun 2024
Gunsynd (LSE:GUN)
Historical Stock Chart
From Jun 2023 to Jun 2024