Imperial X to list on London Stock Exchange, change name to Cloudbreak Discovery

Imperial X to list on London Stock Exchange, change name to Cloudbreak Discovery 1

LONDON: Imperial X Plc 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.

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 Plc.

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.

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. The Company expects that Admission will become effective in April 2021.

Kyler Hardy, CEO of Imperial X, commented, “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.”

The Company intends to develop its portfolio of assets and interests with a focus on the technical merits and inherent value of the assets on a case-by-case basis. The broad nature of the corporate objective will therefore be to incorporate material interests located across multiple jurisdictions.

To increase the likelihood of acquiring and developing valuable assets and also mitigate risks, the Company will utilise expertise held by the Board, management and consultants to focus on strategic development of assets in various stages of value beneficiation, which in turn will allow for the monetisation of assets through the deployment of technical, operational and financial expertise.

Imperial X plc, which will change its name to Cloudbreak Discoveries Plc on Admission, is looking to become a leading natural resource prospect generator, working across a wide array of projects that are being developed and managed by an experienced team with a proven track record.

Value accretion within the projects being developed by the new ‘Cloudbreak’ generator model enables a multi asset approach to investing. Diversification within the mining sector and amongst resource classes is key to withstanding the cycles of resource investing.

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