New Investment - Low 6 Limited

RNS Number : 4555I

Gunsynd PLC

14 December 2020

 

Gunsynd plc

("Gunsynd" or the "Company")

 New Investment - Low 6 Limited

Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that it has invested £ 200,010 in Low 6 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.

This investment in Low6 was made on the following terms:

· subscription for 6,667 ordinary shares at a price of £30 per share for a total consideration of £ 200,010 ; and

· this investment is a part of a £1.5m funding round.

The board of Gunsynd believes there is significant demand for a sports betting product which is built and designed to match the excitement of watching sports and which is also engaging and simple to use.  Low6 provides a white-labelled mobile platform to its partners which enables them to offer a pooled sports betting experience to their app users and allows users to bet with each other. 

Under its B2B model, Low6 partners with a sports team/franchise, such as a UK football club.  The model reduces customer acquisition costs and strengthens brand and customer loyalty, which enhances customer retention.  Low6 can either embed its platform within its partners' apps or build the app for its partners.  The board of Gunsynd believes the Low6 partnership model is also highly scalable.

Low6 has a number of significant partnerships including Yinzcam Inc. which has 90+ million installs of its mobile sports and events apps world-wide and currently serves 190+ professional teams, leagues, events and venues in the US, Canada, Spain and Australia.

Low6 has raised over £8 million to date and expects to raise additional funds through a pre-IPO funding round with a view to completing an IPO at some stage throughout 2021.

An entity in which Peter Ruse, a Director of Gunsynd, has an interest, has subscribed for 916 shares for consideration of £27,500 at a price of £30 per share as part of the same funding round.

Hamish Harris, Gunsynd Plc Director, commented: "Gunsynd is very pleased to participate in this capital raising into Low 6 Limited. The investment offers exposure to what we believe to be an exciting sector of pooled sports betting where Low6 participants can wager against each other rather than a bookmaker.  We believe Low6 is unique in that it partners with the sports team/franchises on a B2B model, reducing player/user acquisition costs, strengthening brand and customer loyalty, thereby reducing marketing costs and enhancing player retention."

About Low6 Limited

Low6 Limited a next generation sports betting platform. Further information can be found at https://low6.co.uk

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

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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