REG - Cloudbreak Discovery - Placing of £600,000

Cloudbreak DiscoveryAnnouncement

28/08/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250828:nRSb9518Wa&default-theme=true

RNS Number : 9518W  Cloudbreak Discovery PLC  28 August 2025

28 August 2025

Cloudbreak Discovery Plc

('Cloudbreak', or 'the Company')

 

Placing to raise £600,000

 

 

Cloudbreak Discovery Plc (LSE: CDL), a London Stock Exchange Main Market
listed company, is pleased to announce that it has raised £600,000 (gross)
at 0.475 pence per share, representing a 10% discount to the closing price on
27 August 2025, from one existing and two new strategic institutional
investors including a US based investment fund specialising in mining.

 

Tom Evans, Cloudbreak's MD, commented: "I am delighted by the support provided
by the  strategic new and long term shareholders of the Company.  This
placing enables us to greatly accelerate the work programme planned at our
recently announced increased acreage at Darlot West, and further, to
crystallise some exciting opportunities the Company has already negotiated
exclusivity on.  I look forward to updating shareholders in the coming
weeks   "

 

Details of the £600,000 placing:

 

The Company has raised gross proceeds of £600,000 via a placing of
126,315,790 ordinary shares ("Placing Shares") at a placing price of 0.475
pence per share, from one existing and two new institutional investors.  The
funds raised will be used to accelerate the work program on the Darlot West
Project and for general working capital.

 

The Company does not currently have sufficient headroom to enable the
admission of all the Placing Shares without the production of an FCA approved
prospectus ("Prospectus").  It is therefore issuing 30,615,127 new ordinary
shares ("New Shares") and is borrowing 95,700,663 ordinary shares ("Loan
Shares ") from Crestmont Invest Inc ("Crestmont"), an existing long-standing
shareholder of the Company,

 

The Company and Crestmont have entered into a stock lending agreement dated 27
August 2025 (the "Stock Lending Agreement") under which the Company is
required to deliver new ordinary shares ("the Replacement Shares") equal to
the number of Loan Shares to Crestmont by no later than 31 January 2026. The
Company is working with its advisers to prepare a Prospectus following which
the Replacement Shares will be issued and application will be made for them to
be admitted to the Official List (Equity Shares (transition) category) and to
trading on the Main Market of the London Stock Exchange

 

For the avoidance of doubt, the loan of the Loan Shares to the Company
involves no cash consideration being paid to Crestmont and no interest is
payable under the Stock Lending Agreement.

 

Application is being made for the New Shares to be admitted to the Official
List (Equity Shares (transition) category) and to trading on the Main Market
of the London Stock Exchange, which is expected to be on or around 5 September
2025. These shares will rank pari passu with the existing ordinary shares of
the Company.

 

Following the issue of the New Shares, the Company's issued ordinary share
capital shall consist of 1,403,690,759 Ordinary Shares. The figure of
1,403,690,758[ will represent the new total voting rights in the Company and
should be used by shareholders as the denominator for the calculation by which
they can determine if they are required to notify their interest in, or a
change to their interest in, the Company under the Financial Conduct
Authority's ("FCA") Disclosure Guidance & Transparency Rules.

 

The loan of the Loan Shares by Crestmont represents a Material Related Party
transaction.  The directors of the Company have approved the transaction as
being fair and reasonable from the perspective of Cloudbreak and its
shareholders.

 

 

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).

 

 

 

For additional information please contact:

 

 Cloudbreak Discovery PLC              Peter Huljich, Chairman           Tel: +44 207 887 6139

                                       Tom Evans, Managing Director      Tel: +44 7851 703440
 Novum Securities (Financial Adviser)  David Coffman / Anastassiya Eley  Tel: +44 7399 9400

 

 

 

 

 

 

About Cloudbreak Discovery PLC

 

Cloudbreak Discovery PLC is a leading natural resource explorer and project
generator. Cloudbreak is focused on mineral exploration and energy
opportunities with the aim of bringing near-term cashflow and driving
shareholder value.

 

Through its wholly owned but independently operated subsidiaries, the Company
will develop its array of mineral assets, whilst continuing to generate new
projects with a particular focus on commodities with high intrinsic value.

 

Cloudbreak's generative model across the mineral sector enables a multi-asset
approach to investing. in the commodity cycle.

 

- Ends -

 

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  IOEEAEPXALFSEAA