CloudBreak Discovery Corp. Closes Imperial X Transaction

Vancouver, British Columbia--(Newsfile Corp. - June 3, 2021) - CloudBreak Discovery Corp. ("CloudBreak" or the "Company") is pleased to announce that its transaction with Imperial X Plc ("Imperial X") (see the Company's press releases dated September 2, 2020, January 8, 2021, and February 17, 2021) has now closed. Under the transaction, CloudBreak amalgamated with Howson Ventures Inc. ("Howson"), Cabox Gold Corp. ("Cabox") and 1278953 B.C. Ltd. ("Numberco Sub") to form 1308402 B.C. Ltd. ("Amalco"), which is a subsidiary of Imperial X (the "Amalgamation"). In conjunction with closing, Imperial X also acquired certain assets in Anglo African Minerals Plc ("AAM") and changed its name to "Cloudbreak Discovery Plc".

As consideration under the proposed transaction, Imperial X issued an aggregate of approximately 149,568,471 Imperial X shares pro rata to the CloudBreak shareholders. Accordingly, each CloudBreak shareholder received approximately 4.6365 Imperial X shares in exchange for each CloudBreak share held. Following closing, as well as other ancillary transactions and financings conducted by Imperial X, former CloudBreak shareholders hold approximately 38.39% of the issued and outstanding shares of Imperial X.

For further information respecting the transaction, Amalco, or Imperial X, please contact:

David Robinson, sole director of 1208402 B.C. Ltd.

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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