RNS23 Dec 2020 08:45
Gunsynd plc
("Gunsynd" or the "Company")
Completion of Acquisition and TSXV listing date - Angold Resources Ltd
Further to the announcements of 30 September and 1 October 2020, Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that Angold Resources Ltd. (formerly, ZTR Acquisition Corp.) ("Angold") has completed the acquisition (the "Transaction") of Federal Gold Corp. ("Federal Gold"). The common shares of Angold are expected to begin trading on the TSX Venture Exchange ("TSXV") on 31 December 2020 under the ticker symbol TSXV: AAU.
As announced on 30 September 2020, Gunsynd invested C$100,000 (approximately £58,000) into Angold, conditional on completion of a fundraising and reverse takeover ("RTO") of Federal Gold. As a result of the Transaction described above and completion of the connected financing to raise gross proceeds of C$8,000,000, Gunsynd will hold 712,500 ordinary shares in Angold (comprising 250,000 shares from the fundraising and the 462,500 existing shares held by Gunsynd) representing approximately 0.85% of the enlarged share capital of Angold.
About Angold Resources Ltd.
Angold is an exploration and development company targeting large-scale mineral systems in the proven districts of the Ontario, Maricunga and Nevada. Angold owns a 100% interest in the South-Bay Uchi, Dorado and Cordillera projects, and certain claims that append the optioned Iron Butte project.
Peter Ruse, a director of Gunsynd, commented: "We are pleased to announce this update for the completion of the Angold/Federal Gold RTO and the official listing date on the TSXV. The listing will mark a meaningful step for Angold Resources as its looks to develop its two core projects situated in the two very mining friendly jurisdictions of Chile and Nevada, USA"