IN BRIEF: Cloudbreak Discovery to inject USD1.5 million in Iron Forge

Cloudbreak Discovery PLC - Vancouver, Canada-based natural resource project generator - Enters agreement with Iron Forge Holdings III Ltd, under which Cloudbreak will provide USD1.5 million in development capital to Iron Forge for the Butte Strawn energy project in Irion County, Texas.

Capital will be deployed as a convertible debenture which can be converted into a 6.0% overriding royalty interest.

In return, Iron Forge will grant Cloudbreak 6.0 million warrants with a CAD0.35 strike price and three-year term from financial close.

Current stock price: 1.81 pence

12-month change: down 27%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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