REG - Cloudbreak Discovery - Agreement with Lonestar Lithium Inc.

Cloudbreak DiscoveryAnnouncement

27/02/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240227:nRSa5007Ea&default-theme=true

RNS Number : 5007E  Cloudbreak Discovery PLC  27 February 2024

27 February 2024

 

Cloudbreak Discovery Plc

('Cloudbreak', or 'the Company')

 

Agreement with Lonestar Lithium Inc.

Cloudbreak Discovery Plc, (LSE: CDL), the natural resource project generator,
is pleased to announce that it has signed an Exploration Agreement for the
acquisition of its proprietary database of lithium targets in the State of
Texas.

Smackover Resources LLC, ("Smackover"), a wholly owned subsidiary of Lonestar
Lithium Inc., ("Lonestar"), has purchased the proprietary database with
regional modelling and data compilation across eastern Texas from Cloudbreak.
The terms of the transaction include;

·      2.0m shares in Lonestar

·      USD$25,000 each time a Qualifying Transaction property is
generated from the database.

·      0.5% Royalty produced lithium on each Qualifying Transaction
property

·      Agreement is for 3 years from Effective Date

Andrew Male, Director, Interim CEO, states: "This Exploration Agreement is a
good example of the type of transactions Cloudbreak has completed in the past
and will continue to do with a sector of its asset base. It took considerable
time and effort to compile this database and being able to sell this on to
Lonestar demonstrates the possible valuation accretion by doing this type of
business."

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

- Ends -

 

For additional information please contact:

 

 Cloudbreak Discovery PLC  Tel: +44 792 6 397675
                           Andrew Male, Interim CEO         am@cloudbreakdiscovery.com

 Novum Securities          Tel: +44 7399 9400
 (Financial Adviser)       David Coffman / George Duxberry

 Oberon Capital            Tel: +44 20 3179 5355 /

                           +44 20 3179 5315
 (Broker)                  Nick Lovering / Adam Pollock

 

 

About Cloudbreak Discovery PLC

Cloudbreak Discovery PLC is a leading natural resource project generator and
royalty business. Cloudbreak is focused on energy royalty acquisitions with
the aim of bringing near-term cashflow and driving shareholder value. Its
primary operating jurisdiction is the United States, but the Company also
deploys its project generation model in the international energy sector to
acquire minority interests in projects of merit.

 

Through its wholly owned but independently operated subsidiary, Cloudbreak
Exploration Inc., the Company will develop its array of mineral assets, whilst
continuing to generate new projects with a particular focus on commodities key
to the energy transition.

 

Cloudbreak's generative model across the energy and mineral sector enables a
multi-asset approach to investing and exploration. Diversification within the
natural resource sector and amongst resource classes is key to withstanding
the cycles of investing.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGRBLGDDLDDDGSL