Deferred shares for the Kolosori Nickel Project

14 October 2022

Gunsynd plc

("Gunsynd" or the "Company")

Deferred shares awarded for the Kolosori Nickel Project

Gunsynd Plc (AIM: GUN, AQSE: GUN) notes the announcement by its investee company Pacific Nickel Mines Limited (ASX: PNM) ("Pacific Nickel"), which has allotted 15,625,000 shares at an issue price of AUD $0.08 as deferred consideration shares for the acquisition of an 80% interest in the Kolosori Nickel Project, as approved by shareholders at a General Meeting held on 9 April 2021.  As per the share purchase agreement announced on 14 May 2021, Gunsynd has received 1,137,984 shares which are subject to a lock-in for a period of 12 months from the date of issue.

Following the issuance of the 1,137,984 deferred consideration shares, Gunsynd will hold 3,083,741 shares of Pacific Nickel representing approximately 1.1% of Pacific Nickel's current issued share capital.

T he Directors of Gunsynd accept responsibility for this announcement.  

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