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Cloudbreak Discovery PLC - London-based natural resource project generator and royalty business - Raises £600,000 through placing 126.3 million shares at 0.474 pence, representing a 10% discount to its closing price on Wednesday. Says the funds were raised from one existing and two strategic institutional investors, with one of them an unnamed, US-based investment fund specialising in mining. Funds are earmarked to accelerate work at the Darlot West project, and for general working capital purposes. Adds that it does not have sufficient headroom to issue all the shares without producing a Financial Conduct Authority approved prospectus. Therefore, it is issuing 30.6 million new shares and borrowing 95.7 million shares from long-standing shareholder, Crestmont Invest Inc. Says it has entered into a stock lending agreement where it must deliver new shares to Crestmont that are equal to the loan shares by January 31 next year. ‘I am delighted by the support provided by the strategic new and long term shareholders of the company. This placing enables us to greatly accelerate the work programme planned at our recently announced increased acreage at Darlot West, and further, to crystallise some exciting opportunities the company has already negotiated exclusivity on. I look forward to updating shareholders in the coming weeks,’ says Managing Director Tom Evans. Current stock price: 0.60 pence, up 6.2% on Thursday afternoon in London 12-month change: doubled from 0.30p Copyright 2025 Alliance News Ltd. All Rights Reserved.
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