London Stock Exchange welcomes Imperial X Plc to the Main Market

Today, London Stock Exchange welcomes Imperial X (“Imperial X” or the “Company”) as it begins trading on the standard segment of the Main Market under the ticker “CDL”. The Company will be changing its name to Cloudbreak Discovery Plc in due course and will update the market on its progress. In conjunction with the listing, Imperial X undertook a placing to raise £2 million at a placing price of 3 pence per share and had a market cap of £11,686,954 on admission. 

Imperial X’s objective is to continue building a specialist, early-stage natural resource project generator and development business. The Company will continue to acquire, develop, and manage a diverse portfolio of mineral assets in the natural resource sectors with an early focus on battery and hi-tech metals. The broad nature of the corporate objective is to continue building a platform of material interests located across multiple jurisdictions with an agnostic approach to commodity selection and to partner these assets with experienced explorers and developers.

The Company, based in Vancouver, Canada, will leverage the board and management’s technical, operational and financial expertise to focus on the strategic development of assets in various stages of value accretion. 

Imperial X currently has a diverse portfolio of assets which include critical commodities such as silver, copper, titanium, iron, vanadium, bauxite and helium. Due to the nature of the business model and the experience of the Board and management team, Imperial X is not constrained to a single geographical location or set of assets, allowing it to cover a range of exciting markets. 

Kyler Hardy, Chief Executive Officer of Imperial X, said: ‘’Today marks an important milestone for Imperial X with our successful admission to the standard segment of the Main Market. We have built a company with a strong business model, accessing a wide array of projects and a low cost, high return exploration and value creation model.

“We are pleased to welcome new shareholders to the business and I look forward to the Company’s growth and development as we focus on our project portfolio and providing returns to new and existing shareholders.”

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
8.77
Listing/Admission to trading
03 Jun 2021
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