22nd Mar 2024 15:51
(Alliance News) - Gunsynd PLC on Friday announced new investment into its partially owned subsidiary.
The London-based investment firm owns a 17% stake of UK beverage company Rogue Baron PLC.
Rogue's wholly owned US subsidiary, Shinju Spirits Inc, has received an investment of USD1.0 million from a US institutional investor.
The investment comprised of USD750,000 in cash, and USD250,000 worth of business enhancement services provided by the investor to support the sales growth of the company's signature brand, Shinju Japanese Whisky.
In return for the investment the investor will receive USD750,000 worth of preferred shares and USD250,000 in warrant to purchase common stock in Shinju Spirits.
Shares in Gunsynd were up 2.5% to 0.15 pence in London on Friday afternoon.
By Elijah Dale, Alliance News reporter
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