HomeInternationalImperial X, now Cloudbreak Discovery, seeks equity raise of £1.5 million

Imperial X, now Cloudbreak Discovery, seeks equity raise of £1.5 million

Imperial X has confirmed its intention to apply for admission of its ordinary shares to trading on the Standard Segment of the Official List and to trading on the London Stock Exchange’s Main Market for listed securities of the London Stock Exchange.

Trading of the Company’s Ordinary Shares on AQSE will be cancelled simultaneously with Admission.

It is also proposed that on Admission to the Official List, the Company will change its name to Cloudbreak Discovery.

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Imperial X’s objective is to use the equity and royalty positions acquired upon Admission to create a solid foundation from which to build a specialist, early-stage natural resource project generator and development business.

The Company seeks to continue to acquire, develop, and manage a diverse portfolio of mineral assets in the natural resource sector.

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Concurrently with Admission, and subject to receipt of all necessary regulatory approvals, the Company is proposing to raise up to £1.5 million by way of placing of new Ordinary Shares to support further prospect acquisitions.

Kyler Hardy, CEO of Imperial X, comments:

“We are delighted to be moving to the Standard List of the London market, offering an exciting investment opportunity within the natural resources sector. 

“The change of name to Cloudbreak Discovery enables us to move forward as a reinvigorated company with a portfolio of interests in a number of exciting assets and companies.

“The Company will be a listed project generator and royalty company specialising in sourcing and developing early stage or overlooked assets in the global natural resources sector.

“With our opportunistic business model to leverage and deploy our IP, our choice of projects is not constrained by geography or commodity which means our business has exposure to a diverse range of commodities and project stages.

“Our experience across the Board and management team provides potential investors with the confidence that our model can deliver a low-cost high, return exploration opportunities by utilising partner balance sheets and technical teams.

“We are looking forward to growing what is already a promising business, all with the aim of providing shareholders with significant returns.”