1308402 B.C Ltd.: CloudBreak Discovery Corp. Closes Imperial X Transaction
CloudBreak or the
Company ) is pleased to announce that its transaction with Imperial X Plc (
Imperial X ) (see the Company s press releases dated September 2, 2020, January 8, 2021, and February 17, 2021) has now closed. Under the transaction, CloudBreak amalgamated with Howson Ventures Inc. (
Howson ), Cabox Gold Corp. (
Numberco Sub ) to form 1308402 B.C. Ltd. (
Amalco ), which is a subsidiary of Imperial X (the
Amalgamation ). In conjunction with closing, Imperial X also acquired certain assets in Anglo African Minerals Plc (
AAM ) and changed its name to Cloudbreak Discovery Plc .
As consideration under the proposed transaction, Imperial X issued an aggregate of approximately 149,568,471 Imperial X shares pro rata to the CloudBreak shareholders. Accordingly, each CloudBreak shareholder received approximately 4.6365 Imperial X shares in exchange for each CloudBreak share held. Following
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