Gunsynd PLC Investment in Oyster Oil and Gas (1488U)
13 January 2017 - 10:46PM
UK Regulatory
TIDMGUN
RNS Number : 1488U
Gunsynd PLC
13 January 2017
Gunsynd plc ("Gunsynd" or the "Company")
Investment in Oyster Oil and Gas
Gunsynd Plc (AIM: GUN, NEX: GUN) is pleased to announce that it
has signed a subscription agreement with Oyster Oil & Gas
("Oyster"), a junior oil and gas E&P company quoted on the
Toronto Venture Exchange in Canada to invest GBP125,000 by as part
of a wider fundraising with existing investors of GBP250,000.
Highlights:
Oyster is listed on the TSV Venture Exchange (TSX-V: OY) and is
an international energy group focused on oil and gas exploration
and production activities in underexplored hydrocarbon basins.
Oyster currently operates 4 blocks in the Republic of Djibouti
(100% interest); 3 blocks are located onshore and 1 block offshore,
and also the sole interest holder in 1 onshore block in the
Republic of Madagascar.
Terms of the investment:
Gunsynd is investing CAD 200,000 (approximately GBP125,000) at a
price of CAD 0.20 (compared with closing price of 0.24 on 11
January) for 1,000,000 shares in Oyster. The Company will also
receive a warrant over an equivalent number of shares at a strike
price of CAD 0.27 exercisable up to 20 January 2018.
Hamish Harris, the Company's Executive Chairman, commented:
"This initial investment into Oyster offers the Company the
opportunity to participate in a large, multi-billion barrel
prospective resource at what we believe to be a compelling
valuation and complements our portfolio of near term oil production
companies".
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:
+44 (0) 20 7440 0640
Hamish Harris
Nominated Adviser/NEX Exchange Corporate Adviser
+44 (0) 20 7213 0880
Cairn Financial Advisers LLP
James Caithie / Liam Murray
Peterhouse Corporate Finance (Joint Broker)
+44 (0)20 7469 0930
Lucy Williams
This information is provided by RNS
The company news service from the London Stock Exchange
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January 13, 2017 06:46 ET (11:46 GMT)