Last checked at 27 Feb 2024 07:00
27 February 2024
Cloudbreak Discovery Plc
('Cloudbreak', or 'the Company')
Agreement with Lonestar Lithium Inc.
Cloudbreak Discovery Plc, (LSE: CDL), the natural resource project generator, is pleased to announce that it has signed an Exploration Agreement for the acquisition of its proprietary database of lithium targets in the State of Texas.
Smackover Resources LLC, ("Smackover"), a wholly owned subsidiary of Lonestar Lithium Inc., ("Lonestar"), has purchased the proprietary database with regional modelling and data compilation across eastern Texas from Cloudbreak. The terms of the transaction include;
· 2.0m shares in Lonestar
· USD$25,000 each time a Qualifying Transaction property is generated from the database.
· 0.5% Royalty produced lithium on each Qualifying Transaction property
· Agreement is for 3 years from Effective Date
Andrew Male, Director, Interim CEO, states: "This Exploration Agreement is a good example of the type of transactions Cloudbreak has completed in the past and will continue to do with a sector of its asset base. It took considerable time and effort to compile this database and being able to sell this on to Lonestar demonstrates the possible valuation accretion by doing this type of business."
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).
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For additional information please contact:
Cloudbreak Discovery PLC | Tel: +44 792 6 397675 | |
Andrew Male, Interim CEO | am@cloudbreakdiscovery.com | |
Novum Securities | Tel: +44 7399 9400 | |
(Financial Adviser) | David Coffman / George Duxberry | |
Oberon Capital | Tel: +44 20 3179 5355 / +44 20 3179 5315 | |
(Broker) | 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.