Gunsynd PLC Low6 Update (0268P)
February 15 2021 - 1:00AM
UK Regulatory
TIDMGUN
RNS Number : 0268P
Gunsynd PLC
15 February 2021
Gunsynd plc
("Gunsynd" or the "Company")
Low6 Update
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that it
has received a shareholder update from its investee company Low6
Limited ("Low6"), a UK based, influencer led, B2B pool betting
platform for franchises around the world. Low6 offers a white-label
pool betting platform for professional sports franchises.
In Q4 2020, Low6 closed a pre-IPO round, organised by Canaccord
Genuity. As announced on 14 December 2020, Gunsynd subscribed for
6,667 ordinary shares at a price of GBP30 per share for a total
consideration of GBP 200,010 .
Low6 advised in its shareholder update that it is proposing to
extend the pre-IPO round to allow a very well-respected figure in
the worldwide gaming industry to invest a significant sum in Low6
and join the Low6 advisory board from the IPO. Proceeds from the
extended pre-IPO round will be deployed to build user growth on the
various platforms.
Low6 stated in its shareholder update that it now has just short
of 80,000 users. Over 80% of these users are "Gen Z" and
Millennials, a target demographic of many gaming companies
worldwide. Low6 stated that its new user Cost per Acquisition (CPA)
is very low, below GBP25 per monthly active user across all
partners.
Low6 advises that three new influencer partners, Arsenal Fan TV,
The United Stand TV and True Geordie, have had an impact ahead of
its expectations. In January 2021, Low6 launched UFC Picks mobile
application in partnership with the Ultimate Fighting Championship
("UFC"), on time and on budget. The app for Rangers FC went live on
the 11 February 2021.
Low6 's IPO plans to list on the Australian Securities Exchange
("ASX") are on track, with a listing targeted for the first half of
2021.
Peter Ruse, Gunsynd PLC Director, commented: "Gunsynd is very
pleased to provide this update to our shareholders. The Low6
business has demonstrated strong monthly active user growth since
our investment in December 2020, launching its pool betting
software across a number of platforms within popular sporting
codes. We believe the cost per acquisition of users to the Low6
platform is considerably lower than the industry average and proves
the disruptive nature of this business. Furthermore, we are
delighted to learn that the business has attracted what it believes
to be a high calibre gaming investor to its shareholder register
and advisory board."
About Low6 Limited
Low6 Limited a next generation sports betting platform. Further
information can be found at https://low6.co.uk
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
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.
The Directors of Gunsynd accept responsibility for this
announcement.
For further information please contact:
Gunsynd plc
Hamish Harris / Peter Ruse +44 (0) 78 7958 4153
Cairn Financial Advisers LLP
James Caithie / Liam Murray +44 (0) 20 7213 0880
Peterhouse Capital Limited
Lucy Williams +44 (0) 20 7469 0936
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