Gunsynd buys into Solomon Islands nickel company

4th Dec 2019 16:08

(Sharecast News) - Gunsynd has purchased a 7.67% stake in Kolosori Nickel for £45,000, it announced on Wednesday, which owns 80% of the nickel prospecting licence PL05/19 over the Kolosori Prospect in Isabel Province of the Solomon Islands.
The AIM-traded firm said it was also granted a 90 day option to purchase another 22.33% of Kolosori Nickel for £135,000.

"Under the purchase and option agreement, Gunsynd will hold certain rights such as board representation, appointed as representative in connection with any listing and offtake agreement, rights to manage the assets and pre-emptive rights on all new share issues," the Gunsynd board said in its statement.

"The parties to the purchase and option agreement will also use best endeavours to enter into an agreement between all holders of the licence."

At 1442 GMT, shares in Gunsynd were down 4.17% at 0.012p.