/THIS NEWS RELEASE IS INTENDED FOR
DISTRIBUTION IN CANADA ONLY AND IS
NOT AUTHORIZED FOR DISTRIBUTION TO UNITED
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VANCOUVER, Oct. 18, 2018 /CNW/ - Universal mCloud Corp.
(TSX-V: MCLD) (OTCQB: MCLDF) ("mCloud" or the "Company"), a leading
provider of Artificial Intelligence and Analytics ("AI&A") and
IoT-connected asset care technology, is pleased to provide an
update further to its press release on October 15, 2018 announcing the closing of its
non-brokered private placement (the "Offering").
Under the Offering, the Company issued a total of 12,956,339
units (each, a "Unit") at a price of $0.35 per Unit for aggregate gross proceeds of
$4,534,719. The Offering is subject
to the final approval of the TSX Venture Exchange.
In addition, the Company issued a further 142,450 common shares
as compensation to certain finders who, in lieu of cash finder's
fees, subscribed for common shares of the Company at $0.35 per share.
The securities issued under the Offering are subject to a
four-month hold period in accordance with applicable securities
legislation.
This news release does not constitute an offer to sell, or a
solicitation of an offer to buy, any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
About Universal mCloud Corp.
Universal mCloud is headquartered in Vancouver, BC with technology and operations
centers in San Francisco, CA and
Bristol, PA. mCloud is an
Artificial Intelligence and Analytics, IoT connected asset care
cloud solution company utilizing connected IoT devices, AI, deep
energy analytics, secure mobile and 3D technologies that rally all
asset stakeholders around an Asset-Circle-of-Care™, providing
complete real-time and historical data coupled with guidance and
advice based on deep analytics and diagnostics resulting in optimal
performance and care of critical equipment. It's all about the
asset. The powerful and secure AssetCare™ environment is accessible
everywhere, 24/7 through standard mobile devices, ruggedized
headsets, and web browsers. For more information, visit
www.mCloudCorp.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.
SOURCE Universal-mCloud Corp