Additional Investment - Low6

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 £65,000) 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 £30 per share for a total consideration of 200,010 .  

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	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray	[phone]
Peterhouse Capital Limited Lucy Williams	[phone]

 

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