Further investment in Charger Metals NL

RNS Number : 9421Z

Gunsynd PLC

20 September 2022

 

20 September 2022

Gunsynd plc

("Gunsynd" or the "Company")

Further investment in Charger Metals NL

Gunsynd Plc (AIM: GUN, AQSE: GUN) announces that it has invested a further AUD$175,000 (approximately £100,000) into one of its investee companies, Charger Metals NL ("Charger") (ASX: CHR), an ASX listed Australian lithium and base metals exploration company.

The Gunsynd investment is part of a capital raise of AUD$5.5 million announced on 19 September 2022 by Charger (consisting of 11 million shares at AUD 50 cents per share) ("Capital Raise") supported by existing and new investors. Gunsynd has signed a placement commitment letter for 350,000 shares at AUD 50 cents per share for a total consideration of AUD$175,000, from the Company's existing cash resources.

Charger proposes to use funds from the Capital Raise (after administration costs) predominantly on exploration activities including drilling to advance the Company's Bynoe and Lake Johnston Lithium Projects.

Following the Capital Raise, Gunsynd will hold 3,175,000 ordinary shares in Charger representing approximately 5.12% of Charger's issued share capital.

For the year ended 30 June 2021, Charger had turnover of AUD$ nil and made a loss of AUD$379,859.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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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