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Cloudbreak Discovery Plc confirmed the completion of Settlement Agreements with certain former directors and management. These agreements, previously announced on 15 November 2023, concluded in full on 28 December 2023.
| Date | 28 Dec 2023 |
| Time | 07:00:01 |
| Category | Acquisitions and alliances |
| ID | 9809X |
28 December 2023
Cloudbreak Discovery Plc
('Cloudbreak', or 'the Company')
Settlement Agreements Completion
Cloudbreak Discovery Plc, (LSE: CDL), a natural resources project generator in the mining and energy sectors is pleased to confirm that the agreements with certain former directors and management ("the Settlement Agreements) previously announced in the Company Update of 15 November 2023 have now concluded in full.
The Settlement Agreements were implemented following the review of the Company's investments, assets, operations and legacy matters, carried out by the current directors.
Cloudbreak will provide a comprehensive update on its current portfolio and its strategic outlook early in the new year.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
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For additional information please contact:
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Cloudbreak Discovery PLC |
Tel: +44 792 6 397675 |
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Andrew Male, Interim CEO |
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Novum Securities |
Tel: +44 7399 9400 |
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(Financial Adviser) |
David Coffman / George Duxberry |
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Oberon Capital |
Tel: +44 20 3179 5355 / +44 20 3179 5315 |
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(Broker) |
Nick Lovering / Adam Pollock |
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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.