CDL Cloudbreak Discovery Plc

22 May 2024

Cloudbreak Discovery Plc

('Cloudbreak', or 'the Company')

Cloudbreak Completes Issuance of Equity for Debt

Cloudbreak Discovery Plc, (LSE: CDL), the natural resource project generator, is pleased to announce that it has completed the issuance of equity in exchange for debt.

As announced on 11 July 2023, the Company issued Convertible Loan Notes, ("CLN's"), totalling £340,000. These CLN's now total £375,456.57 including accrued interest. The two of the four CLN holders are converting to equity at £0.005 per share, representing 66,608,220 Ordinary Shares of £0.001 in the Company ("Ordinary Shares").

The Company has also been supported by the Board and Management and at this time Andrew Male and Paul Gurney will also be converting part of their outstanding fees aggregating to £58,895 into equity at £0.005 per share, representing 11,779,111 Ordinary Shares.

Following the conversion, the direct and indirect holdings of Andrew Male and Paul Gurney will be as follows:

Crescita Capital LLP, who the Company owes £177,802.80 in shares under the terms of the equity drawdown agreement entered into on 16 February 2021 will be issued 35,560,560 Ordinary Shares at £0.005 per share.

Two Creditors of the Company have also converted their debt totalling £37,920 into equity at £0.005 per share, representing 7,584,000 Ordinary Shares.

Total shares being issued are therefore 121,531,891

 Ordinary Shares at £0.005 per share. This represents a total of £599,809.96 of debt that has been converted and all at a premium to the current share price.

Application is being made for the new Ordinary Shares to be admitted to trading on the Main Market of the London Stock Exchange which is expected to be on or around 24 May 2024. These shares rank pari passu with the existing ordinary shares of the Company. Following the issue of these shares, the Company's issued ordinary share capital shall consist of 729,210,696 ordinary shares. The figure of 729,210,696 represents the total voting rights in the Company and should be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's ("FCA") Disclosure Guidance & Transparency Rules.

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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.