Angold Resources Ltd Update

RNS Number : 6015J

Gunsynd PLC

23 December 2020

 

Gunsynd plc

("Gunsynd" or the "Company")

Completion of Acquisition and TSXV listing date - Angold Resources Ltd

Further to the announcements of 30 September and 1 October 2020, Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that Angold Resources Ltd. (formerly, ZTR Acquisition Corp.) ("Angold") has completed the acquisition (the "Transaction") of Federal Gold Corp. ("Federal Gold"). The common shares of Angold are expected to begin trading on the TSX Venture Exchange ("TSXV") on 31 December 2020 under the ticker symbol TSXV: AAU.

As announced on 30 September 2020, Gunsynd invested C$100,000 (approximately £58,000) into Angold, conditional on completion of a fundraising and reverse takeover ("RTO") of Federal Gold. As a result of the Transaction described above and completion of the connected financing to raise gross proceeds of C$8,000,000, Gunsynd will hold 712,500 ordinary shares in Angold (comprising 250,000 shares from the fundraising and the 462,500 existing shares held by Gunsynd) representing approximately 0.85% of the enlarged share capital of Angold.

About Angold Resources Ltd.

Angold is an exploration and development company targeting large-scale mineral systems in the proven districts of the Ontario, Maricunga and Nevada. Angold owns a 100% interest in the South-Bay Uchi, Dorado and Cordillera projects, and certain claims that append the optioned Iron Butte project.

Peter Ruse, a director of Gunsynd, commented: "We are pleased to announce this update for the completion of the Angold/Federal Gold RTO and the official listing date on the TSXV. The listing will mark a meaningful step for Angold Resources as its looks to develop its two core projects situated in the two very mining friendly jurisdictions of Chile  and Nevada, USA"

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 / Mark Rogers	[phone]
Peterhouse Capital Limited Lucy Williams	[phone]

 

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