VANCOUVER, Dec. 4, 2019 /CNW/ - mCloud Technologies
Corp. (TSX-V: MCLD) (OTCQB: MCLDF) ("mCloud" or the
"Company"), a leading provider of asset management solutions
combining IoT, cloud computing, artificial intelligence
("AI") and analytics, announced that it has received the
approval of the TSX Venture Exchange ("TSXV") for the
listing of $23,507,500 worth of
convertible debentures of the Company (the "Debentures") on
the TSXV as a supplemental listing. The Debentures were issued
pursuant to a debenture offering of the Company completed in
tranches on June 21, 2019,
June 28, 2019 and July 10, 2019 and mature on June 30, 2022. The Debentures are expected to
commence trading on the TSXV under the symbol "MCLD.DB.A" at the
open of the market on Thursday December 5,
2019.
Each Debenture is convertible into units of the Company (each, a
"Unit") at the conversion price of $0.50 per Unit. Each Unit consists of one common
share of the Company and one common share purchase warrant of the
Company. The Debentures are governed by a debenture indenture
between the Company and AST Trust Company (Canada) dated November
14, 2019.
About mCloud Technologies Corp.
mCloud is creating a more efficient future with the use of AI
and analytics, curbing energy waste, maximizing energy production,
and getting the most out of critical energy infrastructure. Through
mCloud's AI-powered AssetCare™ platform, mCloud offers complete
asset management solutions to three distinct segments: smart
facilities, power generation, and process industries including oil
and gas. IoT sensors bring data from connected assets into the
cloud, where AI and analytics are applied to maximize their
performance. Headquartered in Vancouver,
Canada with offices in 12 locations worldwide, the mCloud
family includes an ecosystem of operating subsidiaries that deliver
high-performance IoT, AI, 3D, and mobile capabilities to customers,
all integrated into AssetCare. With over 100 blue-chip customers
and more than 35,000 assets connected in thousands of locations
worldwide, mCloud is changing the way energy assets are managed.
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 mCloud Technologies Corp.