Yahoo Finance Cloudbreak Discovery Plc - Cloudbreak Completes Convertible Loan Notes
11 July 2023
Cloudbreak Discovery Plc
(`Cloudbreak', or `the Company')
Cloudbreak Completes Convertible Loan Notes
Cloudbreak Discovery Plc, (LSE: CDL), a natural resource project generator, is pleased to announce that it has issued a Convertible Loan Note, ("CLN").
The terms of the CLN are as follows;
Gross Proceeds: £340,000
Maturity Date: 31 January 2024
Interest Rate: 12% per annum
Conversion Terms: The Lenders may convert at any time following the publication of an FCA approved Prospectus by the Company at a conversion rate of the lesser of 5-day VWAP or £0.005
Paul Gurney, Non-Executive Director of the Company participated in the CLN.
- Ends -
For additional information please contact:
Cloudbreak Discovery PLC | Tel: +44 792 6 397675 | |
Andrew Male, Interim CEO | ||
Novum Securities (Financial Adviser) | Tel: +44 7399 9400 | |
David Coffman / George Duxberry | ||
Oberon Capital (Broker) | Tel: +44 20 3179 5355 / +44 20 3179 5315 | |
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.
