Imperial X Plc (LON:IMPP) said it plans to list on the main market of the London Stock Exchange next month and is proposing to raise up to £1.5mln, via a placing, to support further acquisitions in the natural resource sector.
Imperial X will change its name to Cloudbreak Discovery PLC on admission, cancel trading of its shares on the Aquis Stock Exchange, and plans to build a specialist, early-stage natural resource project generator and development business.
“The company will be a listed project generator and royalty company specialising in sourcing and developing early stage or overlooked assets in the global natural resources sector,” said chief executive Kyler Hardy. “With our opportunistic business model to leverage and deploy our IP, our choice of projects is not constrained by geography or commodity which means our business has exposure to a diverse range of commodities and project stages.”
On its admission, Imperial X will hold equity positions and royalties in a variety of projects in the natural resources sector across multiple jurisdictions, primarily in the Americas and Africa, and have exposure to critical commodities including, gold, silver, copper, titanium, iron, vanadium, bauxite and helium.
Proceeds of the funding will be used to develop the company’s existing portfolio of assets and interests, acquire additions, and to provide working capital.