RE: I'm out...............I dunno Duff...this play is just getting started, you should be loading up on the discount prices and holding for a while longer.The company has good exposure in the mining press which should produce some returns in the future. Note the holding period.
GL
Closing of First Tranche of Private Placement --->@NEWS RELEASE
CLOUDBREAK RESOURCES LTD. ("CDB-V;CUDBF-0")
- Closing of First Tranche of Private Placement
Cloudbreak Resources Ltd. (the "Company") is pleased to announce the
closing of the first tranche of its private placement (the "Private
Placement") announced in its news releases dated July 23, 2009 and July 29,
2009. Pursuant to the Private Placement, the Company issued 3,030,000 units
(the "Units") at a price of $0.065 per Unit for gross proceeds of $196,950
and 5,750,000 flow-through units (the "Flow-Through Units") at a price of
$0.065 per Flow-Through Unit for gross proceeds of $373,750.
Each Unit is comprised of one non flow-through Common share and one
warrant (a "NFT Warrant"). Each NFT Warrant will entitle the holder to
purchase one additional Common share of the Company for a period of five
years from the date of issuance at a price of $0.10 per share.
Each Flow-Through Unit is comprised of one Common share issued on a
"flow through" basis and one warrant (a "FT Warrant"). Each FT Warrant will
entitle the holder to purchase one additional Common share of the Company
for a period of two years from the date of issuance at a price of $0.10 per
share.
Finder's fees (the "Finder's Fee") consisting of 535,000 Flow-Through
Broker warrants (the "FT Broker Warrants")and 285,000 Non Flow-Through
Broker Warrants (the "NFT Broker Warrants") and $53,300 in cash were paid
in accordance with the policies of the TSX Venture Exchange. Each FT Broker
Warrant will entitle the holder to purchase one Share of the Company for a
period of two years from the date of issuance at a price of $0.10 per
Share. Each NFT Broker Warrant will entitle the holder to purchase one
Share of the Company for a period of five years from the date of issuance
at a price of $0.10 per Share.
All securities issued pursuant to the private placement are subject to a
hold period expiring on December 22, 2009.
ON BEHALF OF THE BOARD
"Richard Macey"
President & Director
For further information contact Rich Macey or Craig Naughty, or visit the
website at www.cloudbreakresources.com
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.
TEL: (604) 669-0401 Cloudbreak Resources Ltd.
FAX: (604) 669-0414
Capitalization Report for Cloudbreak Resources Ltd
Shares Issued: 92497635
Shares Escrow: 0
TSX Venture closing price for Cloudbreak Resour
Date: 2009/08/21
Closing Price: 0.070
TEL: (877) 669-0401
____________________________________________________________
(c)2009 Market News Publishing Inc. All rights reserved.
Toronto:(416)366-8881 Vancouver:(604)689-1101 Fax:(604)689-1106
0923500013TS10923500842-06480220090824