Business
Acquisition of Additional Canadian Uranium project
Acquisition of Additional Canadian Uranium project.
About this update from Gunsynd Plc
[{"type":"text","content":"\n\nGunsynd Plc\n(\"Gunsynd\" or the \"Company\")\nAcquisition of Additional Canadian Uranium project\nGunsynd (AIM: GUN), an investing company, is pleased to announce that it has entered into a farm-in agreement (the \"Agreement\") in relation to certain licences over prospective acreage in Canada (the \"Transaction\"). \nGunsynd has acquired a 100% legal and beneficial interest in the West Dismal uranium project in Nunavut Canada (the \"Project\") for consideration of £35,000 which will be satisfied by:\n · Issue of 13,333,333 new ordinary shares at a price of 0.15 pence per share for a total consideration of £20,000 to Pinwheel Resources Ltd (\"Pinwheel Resources\").\n· £15,000 in cash to Pinwheel Resources\n· The Project will be held on trust for Gunsynd until transfer to a special purpose vehicle or termination of the Agreement.\n· Pinwheel Resources to be appointed as initial operator of the Project\nGunsynd has agreed to grant to Pinwheel Resources a 1.5% net smelter royalty (\"NSR\"), payable over the license/permits in the Project as well as the existing Falcon and Bear Twit projects announced 11 July 2024 (together the \"Projects\"), comprising the gross proceeds of the sale of ores, concentrates, metals, minerals and mineral by-product that are produced or extracted at the Projects.\n\n\n\n\nClaim Number\n\n\nClaim Status\n\n\nIssue Date\n\n\nAnniversary Date\n\n\nArea (Ha)\n\n\nNumber of Units\n\n\n\n\n104822\n\n\nACTIVE\n\n\n13/07/2024\n\n\n13/07/2026\n\n\n1,396\n\n\n90\n\n\n\n\n104849\n\n\nACTIVE\n\n\n22/07/2024\n\n\n22/07/2026\n\n\n682\n\n\n44\n\n\n\n\n104827\n\n\nACTIVE\n\n\n13/07/2024\n\n\n13/07/2026\n\n\n667\n\n\n43\n\n\n\n\n \nAdmission of New Ordinary Shares\nApplication will be made to the London Stock Exchange for the admission of 13,333,333 new ordinary shares to trading on AIM (\"Admission\"). Admission is expected to occur on or around 23 August 2024. The new ordinary shares will rank pari passu with the existing ordinary shares.\n \nTotal Voting Rights\nFor the purposes of the Disclosure and Transparency Rules, following Admission, the Company's issued share capital will comprise 739,745,223 ordinary shares of 0.085p each. This figure may be used by shareholders as the denominator for calculations to determine if they are r...