Business
Investment in Oyster Oil and Gas
Investment in Oyster Oil and Gas.
About this update from Gunsynd Plc
[{"type":"text","content":"\n \nRNS Number : 1488U Gunsynd PLC 13 January 2017 \n\nGunsynd plc (\"Gunsynd\" or the \"Company\")\nInvestment in Oyster Oil and Gas\n \nGunsynd 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 £125,000 by as part of a wider fundraising with existing investors of £250,000.\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 \nTerms of the investment:\n \nGunsynd is investing CAD 200,000 (approximately £125,000) 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.\n \nHamish Harris, the Company's Executive Chairman, commented:\n \n\"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\".\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 MSCSFIFFDFWSELF\n ","length":3863,"tagName":"div"}]