Low6 announces Agreement for RTO of 735 BC

RNS Number : 4683A

Gunsynd PLC

02 February 2022

 

2 February 2022 

Gunsynd plc

("Gunsynd" or the "Company")

Low6 announces Agreement for RTO of 735 BC

Gunsynd is pleased to provide an update on its investment in Low6 Limited ("Low6"), which has developed a next-generation sports betting platform.

Low6 has announced that it has entered into a binding letter agreement (the "Agreement") with 1319735 B.C. Ltd. ("735 BC"). The Agreement sets forth, in general terms, the basic terms and conditions upon which Low6 and 735 BC will combine business operations resulting in a reverse takeover (the "RTO") of 735 BC by Low6 and its shareholders.

Pursuant to the terms of the Agreement, it is intended that Low6 and 735 BC will enter into a business combination by way of an arrangement, amalgamation, share exchange or other similar structure (the "Transaction") which will result in Low6 becoming a wholly owned subsidiary of 735 BC or otherwise combining its corporate existence with that of 735 BC. The issuer resulting from the Transaction (the "Resulting Issuer") will carry on the current business of Low6.

Prior to the completion of the Transaction, the parties will complete a private placement (the "Concurrent Financing"). Low6 and 735 BC intend to apply to list the common shares of the Resulting Issuer on the TSX Venture Exchange (the "TSXV"). There can be no assurance that the common shares of the Resulting Issuer will begin trading as contemplated, or at all, and neither Low6 nor 735 BC make any representations that trading will occur.

Completion of the Transaction and the Concurrent Financing is subject to a number of conditions, including but not limited to, receiving all required shareholder, regulatory, and other approvals. There can be no assurance that the Transaction or the Concurrent Financing will be completed as proposed or at all.

For further information please contact:

Gunsynd plc Hamish Harris/ Peter Ruse	[phone]
Peterhouse Capital Limited Lucy Williams	[phone]

This communication is a "Reach" announcement. Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained in this announcement is of a non-regulatory nature. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on RNS Reach.

 

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