Gunsynd (GUN) has raised gross proceeds of £450,000 via a placing of 333,333,333 shares at 0.12p and a subscription of 41,666,666 shares.
Participants in the Fundraise will also receive one warrant for every two shares, exercisable at 0.2p.
The proceeds will be used to provide Gunsynd with additional funding for general working capital, and to allow it to progress its activities and make investments in line with its stated investing policy, in particular with respect to its recent Canadian acquisitions comprising the Bear Twit, Falcon Greylark and Barb projects.
Directors Donnie Strang and Hamish Harris invested £30,000 and £10,000 respectively in the fundraising.
In order to provide qualified Gunsynd shareholders and other qualified investors with an opportunity to participate on the same basis as the placing, the company has granted broker Peterhouse a broker option over 100,000,000 shares.
Full take up of the broker option shares would raise a further £120,000.
View from Vox
It’s been a busy year so far for Gunsynd, with much deal-making activity as well as work on the ground in Canada from those projects already in its investment portfolio. Signs are that the mining sector is heating up at last, and so raising new funds will enable the company to keep the momentum going and capitalise on the newly arrived positive sentiment in the sector.