Cloudbreak Discovery Settles Debt with Equity

Cloudbreak Discovery PLC (GB:CDL) has released an update.

Cloudbreak Discovery PLC has successfully completed an equity issuance to settle debts totaling £599,809.96, issuing 121,531,891 new shares at £0.005 each. The conversion includes debts from board members and creditors, enhancing shareholder value as the conversion rate is at a premium to the current share price. The newly issued shares are expected to be tradable on the London Stock Exchange around May 24, 2024.

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