Engagement of Corporate Development Services

RNS Number : 0595A

Cloudbreak Discovery PLC

31 January 2022

 

31 January 2022

Cloudbreak Discovery Plc
("Cloudbreak" or the "Company")

 

Cloudbreak Engages Group for Corporate Development Services

Cloudbreak Discovery Plc ("Cloudbreak") (LSE: CDL) is pleased to announce that it has entered into an agreement with OIG Overseas Investment Group Ltd. ("OIG"), for corporate development services which will include, financing and financial consulting, market intelligence, marketing of assets and projects, strategic partnerships and project generation, as well as investor awareness.

The agreement will be for an initial period of one year for which Cloudbreak will issue 58,000,000 ordinary shares (the "Shares") to OIG and certain associates.

Application will be made for the Shares to be admitted to trading, which is expected to be on or around 3^rd of February 2022.

Kyler Hardy, President and CEO of Cloudbreak, stated, "We are delighted to be able to engage and partner with OIG for the next year. The decision to be issued shares in Cloudbreak in return for services demonstrates the confidence they have in our ability to grow and deliver shareholder value. The team brings extensive knowledge of corporate development and market awareness, which will be invaluable to Cloudbreak as we enter an exciting phase in our journey. I look forward to updating the market as we continue to execute our project generator model."

The Shares will rank pari passu with the existing ordinary shares of the Company. Following the issue of the Shares, the Company's issued share capital will comprise of 448,065,060 ordinary shares. This figure of 448,065,060 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and 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).

-ENDS-

For additional information please contact:

Cloudbreak Discovery PLC	Tel: [phone]
	Kyler Hardy, CEO	[e-mail]
Novum Securities (Financial Adviser)	Tel: [phone]
	David Coffman / Lucy Bowden Colin Rowbury
Shard Capital Partners (Broker)	Tel: [phone] Damon Heath / Isabella Pierre
Blytheweigh (Financial PR/IR-London)	Tel: [phone]	[e-mail]
	Tim Blythe
	Megan Ray
Stellium Services (Investor Relations)	Tel: [phone]	[e-mail]
www.StelliumServices.com	Andrew Wilson
	Claire Bowden

About Cloudbreak Discovery PLC

Cloudbreak Discovery PLC, is a leading natural resource project generator, working across a wide array of mineral assets that are being developed and managed by an experienced team with a proven track record. Value accretion within the projects being developed by Cloudbreak's generative model enables a multi-asset approach to investing. Diversification within the mining sector and amongst resource classes is key to withstanding the cycles of natural resource investing.

 

END

 

 

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