Placing and Issue of Warrants

Gunsynd Plc

("Gunsynd" or the "Company")

Placing and Issue of Warrants

Gunsynd (AIM: GUN) is pleased to announce that it has raised gross proceeds of £250,000 through the issue of 200,000,000 new ordinary shares of 0.085 pence ("Placing Shares") each at a price of 0.125 pence per Placing Share (the "Placing Price") (the "Placing"). Placees will also receive one warrant for every two ordinary shares subscribed for, exercisable at 0.2 pence from the date of Admission (defined below) and expiring on the one-year anniversary of the date of Admission (the "Placing Warrants"). In aggregate, 100,000,000 Placing Warrants will be issued.

The net proceeds of the Placing will be used to provide the Company with additional funding for general working capital, making investments in line with its stated investing policy and progressing its activities particularly with respect to its recent Canadian acquisitions being the Bear Twit, Falcon and West Dismal projects.

Certain directors of the Company have subscribed for, in aggregate, 24,000,000 new ordinary shares at the Placing Price ("Director Participation"). Details of the Director Participation are set out below:

Related Party Transaction

The Director Participation in the Placing constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules by virtue of Donald Strang and Hamish Harris both being directors of the Company and therefore related parties (the "Transaction"). Peter Ruse, being the director of the Company independent of the Transaction considers, having consulted with Cairn Financial Advisers LLP, the Company's nominated adviser for the purposes of the AIM Rules, that the terms of the Transaction are fair and reasonable in so far as shareholders are concerned.

Admission of the New Ordinary Shares

Application will be made to the London Stock Exchange to admit the Placing Shares ("New Ordinary Shares") to trading on AIM ("Admission"). Admission of the new ordinary shares is expected to occur on or around 10 September 2024. The New Ordinary Shares will rank pari passu with the existing ordinary shares.

Total Voting Rights following Admission

For the purpose of the Disclosure and Transparency Rules, following Admission, the enlarged issued share capital of the Company will comprise 939,745,223 ordinary shares of 0.085p each. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events.  Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. 

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

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Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them