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Pires Investment PLC - London-based technology-focused investment company - Notes alongside Gunsynd PLC that investee Low6 Ltd has entered into binding letter agreement for a reverse takeover of 1319735 BC Ltd. Low6 will become a wholly-owned subsidiary of 735 BC or will combine its corporate existence with the company, via a share exchange, arrangement, amalgamation or other similar structure. The parties will complete a private placement on the TSX Venture Exchange prior to this. Follows Monday's announcement of Low6's USD5 million pre-initial public offering funding round.
Pires Director Nicholas Lee said: "Along with this Low6 development and last week's announcements regarding Pluto Digital and Smarttech247, a number of Pires' investments now have clear paths to listings in the short term."
Pires current stock price: 7.69 pence, up 11% on Wednesday
12-month change: down 31%
Gunsynd current stock price: 0.95 pence, up 5.7% on Wednesday
12-month change: down 49%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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