Cloudbreak Discovery PLC Agreement with Lonestar Lithium Inc.

RNS Number : 5007E

Cloudbreak Discovery PLC

27 February 2024

 

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).

 

- Ends -

 

For additional information please contact:

 

Cloudbreak Discovery PLC	Tel: [phone]
	Andrew Male, Interim CEO	[e-mail]
Novum Securities	Tel: [phone]
(Financial Adviser)	David Coffman / George Duxberry
Oberon Capital	Tel: [phone] / [phone]
(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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

AGRBLGDDLDDDGSL