Cloudbreak Resources Ltd.
TSX VENTURE : CDB
FRANKFURT : C6K
PINK SHEETS : CUDBD

Cloudbreak Resources Ltd.

July 23, 2009 16:01 ET

Cloudbreak Announces Private Placement Financing of Up to $1,300,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 23, 2009) - Cloudbreak Resources Ltd. (the "Company") (TSX VENTURE:CDB)(PINK SHEETS:CUDBF)(FRANKFURT:C6K) announces that the Company wishes to proceed with a Non-Brokered Private Placement of up to 5,000,000 units (the "Units") at a purchase price of $0.065 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 $0.10 per share for a period of five years from closing.

The company also wishes to announce a non brokered private placement of up to 15,000,000 Flow Through Units at a purchase price of $0.065 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 $0.10 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 guidelines.

This transaction is subject to the approval of the TSX Venture Exchange.

ON BEHALF OF THE BOARD

Richard Macey, President & Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cloudbreak Resources Ltd.
    Rich Macey
    (604) 669-0401 or Toll free: (877) 669-0401
    or
    Cloudbreak Resources Ltd.
    Craig Naughty
    (604) 669-0401 or Toll free: (877) 669-0401
    (604) 669-0414
    www.cloudbreakresources.com