Business
Further Investment in Oyster Oil and Gas
Further Investment in Oyster Oil and Gas.
About this update from Gunsynd Plc
[{"type":"text","content":"\n \nRNS Number : 8880E Gunsynd PLC 11 May 2017 \n\nGunsynd plc \n(\"Gunsynd\" or the \"Company\")\nFurther Investment in Oyster Oil and Gas\n \nGunsynd Plc (AIM: GUN, NEX: GUN) is pleased to announce that it has entered into 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 CAD425,000 (approximately £247,000) as part of a wider fundraising (\"Fundraising\").\n \nHighlights:\n \nOyster 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.\n \nGunsynd already holds 2,000,000 shares in Oyster which it acquired in January and March 2017 for a total consideration of £290,000; following today's subscription, Gunsynd will hold 3,062,500 shares in Oyster. \n \nTerms of the investment:\n \nGunsynd is investing CAD425,000 (approximately £247,000) at a price of CAD0.40 for 1,062,500 shares in Oyster. The Company will also receive one warrant for every two shares subscribed for, at a strike price of CAD0.45 exercisable up to 18 months following closing of the Fundraising.\n \nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.\n \nThe directors of Gunsynd accept responsibility for this announcement.\n \nFor further information please contact:\n \nGunsynd plc:\n+44 (0) 20 7440 0640\nHamish Harris\n \nNominated Adviser/NEX Exchange Corporate Adviser\n \n+44 (0) 20 7213 0880 \nCairn Financial Advisers LLP \nJames Caithie / Liam Murray \n \nPeterhouse Corporate Finance (Joint Broker) \n+44 (0)20 7469 0930 \nLucy Williams\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCUASRRBOAVAAR\n ","length":3700,"tagName":"div"}]