Cloudbreak Announces Financing


Cloudbreak Resources is planning to proceed with a non-brokered private placement of up to five million units at a purchase price of 6.5 cents per unit for proceeds of up to $325,000. Each unit shall consist of one non-flow-through common share and one warrant with each warrant entitling the holder to purchase one common shares at a price of 10 cents per share for a period of five years from closing. The company also wishes to announce a non-brokered private placement of up to 15 million flow-through units at a purchase price of 6.5 cents per flow-through unit for proceeds of up to $975,000. Each flow through unit shall consist of one common share issued on a flow-through basis and one warrant entitling the holder to purchase one common share at a price of 10 cents per share for a period of two years from closing. The funds from the sale of units will be used for general working capital and for further development of the company’s Canadian properties. The funds from the sale of flow through units will be used for the company’s exploration activities on its Canadian mineral properties. Finders fees will be payable within the TSX Venture Exchange guidelines. This transaction is subject to the approval of the TSX-V.

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