Further re Barb Gold Project, Issue of Equity
Gunsynd PLC has entered a farm-in agreement regarding the Barb Gold Project, and will make a CAD$190,000 cash payment (approximately £102,000) to recover costs previously incurred. The company has also issued 13,039,813 new ordinary shares at 0.1029 pence per share to the vendor. Additionally, options over 100,000,000 new ordinary shares were granted at an exercise price of 0.12 pence, vesting immediately and expiring in three years, representing approximately 6.72 per cent of the company's issued share capital. Application has been made for admission of the 13,039,813 vendor shares to trading on AIM, expected around September 2, 2025, bringing the total issued share capital to 1,500,285,035 ordinary shares of 0.085p each.
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Gunsynd (AIM: GUN) announces that further to its announcement of 23 June 2025, the Company has entered into a farm-in agreement with 10148942 MB LTD (trading as Critical Discoveries) ("the Vendor" or the "Operator") (the "Agreement") with respect to the Barb Gold Project. The terms of the Agreement are the same as the legally binding Term Sheet announced on 23 June 2025.
The Company is in discussions with the Operator with respect to an upcoming work programme and permitting. The Company will update the market with respect to this in due course.
Initial Cash and Equity Payment
Gunsynd will shortly make a payment to the Vendor of CAD$190,000 (approx. £102,000) in cash in order to recover costs previously incurred by the Vendor in relation to acquisition and sunk costs on exploration activities.
Gunsynd has also issued 13,039,813 new ordinary shares at a price of 0.1029 pence per share ("Vendor Shares") to the Vendor in line with the first tranche payment due to the Vendor under the Agreement.
Grant of Options
Options ("the Options") over a total of 100,000,000 new ordinary shares in the capital of the Company ("Ordinary Shares") were awarded on 26 August 2025 at an exercise price of 0.12 pence (being a premium of 24 per cent. over the mid closing price on 22 August 2025). The Options vest immediately and will expire in 3 years from the date of grant.
The Options represent approximately 6.72 per cent. of the Company's current issued ordinary share capital. They have been issued to two Directors of the Company, Hamish Harris and Donald Strang (100,000,000 in total).
The table below sets out the Directors' interest in the Company following this grant of Options:
| Hamish Harris | Donald Strang | |
|---|---|---|
| Interest in ordinary shares | 19,494,809 | 65,000,000 |
| Interest in warrants | 4,166,666 | 12,500,000 |
| Interest in existing options | 0 | 0 |
| New Options granted | 50,000,000 | 50,000,000 |
Admission
Application will be made to the London Stock Exchange for the admission of the 13,039,813 Vendor Shares to trading on AIM ("Admission"). Admission is expected to occur on or around 2 September 2025. The new ordinary shares will rank pari passu with the existing ordinary shares.
Total Voting Rights
For the purposes of the Disclosure and Transparency Rules, following Admission, the Company's issued share capital will comprise 1,500,285,035 ordinary shares of 0.085p each. This figure may be used by shareholders as the denominator for calculations to 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.
| 1 | Details of the persons discharging managerial responsibilities / person closely associated | |
| a) | Name | A) Donald Strang B) Hamish Harris |
| 2 | Reason for the notification | |
| a) | Position/Status | A) Director of the Company B) Director of the Company |
| b) | Initial notification/ Amendment | Initial notification |
| a) | Name | Gunsynd plc |
| b) | LEI | 21380068N2D57QUG1L78 |
| a) | Description of the financial instrument, type of instrument Identification code | Options over new ordinary shares of 0.085 pence each GB00BMD6PM55 |
| b) | Nature of the transaction | Options over new ordinary shares |
| c) | Price(s) and volume(s) | Price(s) Volume(s) A) 0.12 pence 50,000,000 B) 0.12 pence 50,000,000 |
| d) | Aggregated information - Aggregated volume - Price | N/A N/A |
| e) | Date of transaction | 26 August 2025 |
| f) | Place of transaction | London Stock Exchange |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.