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 £30 per share for a total consideration of £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 £25 permonthly 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 attractedwhat 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.
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