Solomon Islands Investment

RNS Number : 5695V

Gunsynd PLC

04 December 2019

 

Gunsynd plc

("Gunsynd" or the "Company")

Solomon Islands Investment

Gunsynd Plc (AIM: GUN, NEX: GUN) announces it has purchased for £45,000 a 7.67% stake in Kolosori Nickel Limited which owns 80% of the nickel prospecting licence PL05/19 over Kolosori Prospect, Isabel Province ("Licence") in the Solomon Islands.   Gunsynd has also been granted a 90 day option to purchase another 22.33% of Kolosori Nickel Limited for £135,000.

Under the purchase and option agreement ("Purchase and Option Agreement") Gunsynd will hold certain rights such as board representation, appointed as representative in connection with any listing and / or offtake agreement, rights to manage the assets and pre-emptive rights on all new share issues.

The parties to the Purchase and Option Agreement will also use best endeavours to enter into an agreement between all holders of the Licence.

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	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray	[phone]
Peterhouse Corporate Finance Lucy Williams

 

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