REG - Cloudbreak Discovery - Sale of US Oil Assets and £300,000 Placing

Cloudbreak DiscoveryAnnouncement

22/08/2025 07:00

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RNS Number : 3409W  Cloudbreak Discovery PLC  22 August 2025

22 August 2025

Cloudbreak Discovery Plc

('Cloudbreak', or 'the Company')

 

Sale of US Oil Assets and £300,000 Placing

 

 

Cloudbreak Discovery Plc (LSE: CDL), a London Stock Exchange Main Market
listed company, is pleased to announce that, further to the announcement of
27 May 2025, it has now concluded negotiations to sell its US assets and has
executed final contracts in relation to the sale of these assets to G2 Energy
Corp. ("G2") on its Masten Unit Energy Project in Texas.

 

The Company will receive £50,000 on signing and an additional £50,000 over
the next 5 months, and as of now will no longer be exposed to any current or
future liabilities with respect to these US assets, as well as removing an
immediate £75,000 outstanding liability from the Company's books.

 

In addition, the Company has raised £300,000 (gross) at 0.25 pence per share
from a new strategic institutional investor.

 

Tom Evans, Cloudbreak's MD, commented: "The sale of these assets and the new
funds raised will allow the Company to focus on its very exciting gold
exploration activities in Western Australia at its new Darlot West gold
project, where we recently announced some excellent gold grades from its
initial exploration programme. Western Australia is a Tier-1 gold exploration
jurisdiction, and we are focused as a Board to leverage off our exciting
Darlot West assets to grow a portfolio of significant gold related projects in
the state.

 

This sale of the US asset brings in cash and removes any future liabilities
from the balance sheet.  New funds in sterling from asset sales and
financings is an important leverage tool for Australian gold exploration, as
the British pound buys over 2 Australian dollars in today's money and that can
fund a lot of on-ground exploration.  We want to use the fact we are a London
listed company operating in sterling to really make an impact in Western
Australia.  This gives us a good competitive edge when competing for assets
there and spending money on the ground.

 

As mentioned in a recent announcement, we are pursuing more highly prospective
gold ground in Western Australia and we will be using these funds to help
accelerate our growth. Cloudbreak aims to be a significant gold explorer and
developer in Western Australia, where we can quickly leverage off the
Chairman's extensive experience there."

 

 

Details of the £300,000 placing:

 

The Company has raised gross proceeds of GBP 300,000 ("Placing Funds") via a
placing of 120 million new ordinary shares ("Placing Shares") at a placing
price of 0.25 pence per share, from a single institutional investor.  The
funds raised will be used for to accelerate the enhancement of the Company's
asset portfolio and for general working capital.

 

Application is being made for the Placing 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 28
August 2025. These shares will rank pari passu with the existing ordinary
shares of the Company.

 

 

Following the issue of these Placing Shares, the Company's issued Ordinary
Share capital shall consist of 1,373,075,632 Ordinary Shares. The figure of
1,373,075,632 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.

 

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 -

 

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