CloudBreak Discovery Corp. Completes Merger with Ridge Royalty Corp.

Vancouver, British Columbia--(Newsfile Corp. - May 19, 2020) - CloudBreak Discovery Corp. ("CloudBreak" or the "Company") is pleased to announce that it has completed its previously announced merger transaction with Ridge Royalty Corp. ("Ridge"), pursuant to which Ridge amalgamated with CloudBreak's wholly-owned subsidiary (the "Transaction"). Under the Transaction, CloudBreak issued an aggregate of 26,485,071 CloudBreak Class A common shares pro rata to the Ridge shareholders. CloudBreak now has 31,638,849 shares issued and outstanding.

In conjunction with closing the Transaction, Dorian Banks resigned as a director and CFO of the Company, Samuel (Kyler) Hardy has joined CloudBreak's board of directors, and David Robinson was appointed as CloudBreak's Chief Financial Officer.

Samuel "Kyler" Hardy is a natural resources focused entrepreneur. He has been involved in the sector for over 16 years with both private and public businesses. During his career he has gained a wide array of natural resource specific experience including diamond driller, project manager, exploration service contractor, business consultant, public company management and private equity investor. He has built businesses from early stage start-ups to advanced operating companies in mining, energy, and service providers to the sector. He was a founder and former CEO of a large geosciences and logistics management business specializing in grassroots to brownfields exploration and development. Mr. Hardy has raised capital, led M&A transactions, and developed strategic partnerships in excess of $2 billion in aggregate value globally. He is currently CEO of the Cronin Group, a natural resource focused merchant bank, a director of Hexa Resources Ltd. and Imperial Helium Ltd., the CEO of Temas Resources Corp. and the Chairman of Graycliff Resources Ltd.

David Robinson is a CPA and CA with over 10 years of accounting and capital markets experience. Mr. Robinson provided audit, tax and consulting services to private and public companies for a number of years at MNP LLP before moving to the TELUS Pension Fund as a senior analyst where he gained significant exposure to equity portfolio management and commercial lending. He is currently the CFO for the Cronin Group, Imperial Helium Ltd. and Temas Resources Corp.

About CloudBreak Resources Corp.

CloudBreak Discovery Corp. is focused on creating shareholder value through acquisition and monetization of prospective and underexplored mineral properties both domestically and internationally. The Company acquires undervalued assets both pre discovery and post discovery then works with 3^rd party explorers and developers to advance the assets and build shareholder value.

On Behalf of the Board of Directors

Robert Meister
Chief Executive Officer
(604) 351-6647

Forward-Looking Information

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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