VANCOUVER, BC, Sept. 8, 2020 /CNW/ - mCloud Technologies
Corp. (TSXV: MCLD) (OTCQB: MCLDF) ("mCloud" or the
"Company"), a leading provider of asset management solutions
combining IoT, cloud computing, and artificial intelligence ("AI"),
today announced that it has entered into an agreement with RCA
Financial Partners, Inc. ("RCA"), whereby RCA will provide investor
relations services to the Company, with Wayne Andrews of RCA acting as the authorized
individual on behalf of the Company.
Mr. Andrews has extensive experience in financial services and
investor relations having spent over 19 years writing and
overseeing equity research for institutional investors, the last 13
of which were with Raymond James
& Associates, where he was Managing Director, Energy Equity
Research. He subsequently spent another 6 years with NYSE listed
InterOil Corp. ("InterOil"), where he was Vice President, Capital
Markets and Investor Relations.
As a key member of InterOil's management team, Mr. Andrews
participated in the company's listing on the New York Stock
Exchange and led its capital markets activities, during which time
InterOil's market capitalization increased from US$350 million to a high of over US$5 billion before divesting interest to Total
SA, and ultimately being acquired by Exxon Mobil Corporation.
"Mr. Andrews will play a key role in building on the excellent
relationships we have developed in Canada alongside the TSX Venture Exchange, and
our growth in the USA on our path
to a listing on the NASDAQ," said Russ
McMeekin, mCloud President and CEO. "Through the extensive
experience and network with AssetCare™ end user customers that Mr.
Andrews brings, mCloud will gain increased exposure to
institutional and family office investors in Europe and Asia
Pacific."
The consulting agreement is terminable by either party after
August 31, 2021 on 30 days' notice.
RCA, based in St. Petersburg,
Florida, is arm's length to the Company and has experience
with providing investor relations services to public companies. The
services to be provided to the Company by RCA include investor
outreach activities, assistance in corporate communications, and
capital markets advisory services. The Company will pay to RCA a
monthly fee of US$12,000 in cash and
will issue RCA 150,000 common share purchase options pursuant to
the Company's equity incentive plan, with one third of the options
vesting each year from the date of the grant at an exercise price
of C$3.65 per common share.
RCA, its directors and officers, and the authorized individuals
at RCA acting on behalf of the Company, hold less than 1% of the
issued and outstanding common shares of the Company in the
aggregate and do not own any other securities of the Company or any
right to securities of the Company. The engagement is subject to
TSX Venture Exchange approval.
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 in five distinct segments: commercial
buildings, renewable energy, healthcare, heavy industry, and
connected workers. 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 twelve 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 51,000 assets connected in thousands of
locations worldwide, mCloud is changing the way energy assets are
managed.
mCloud's common shares trade on the TSX Venture Exchange under
the symbol MCLD and on the OTCQB under the symbol MCLDF. mCloud's
convertible debentures trade on the TSX Venture Exchange under the
symbol MCLD.DB. For more information, visit www.mcloudcorp.com.
About RCA Financial Partners Inc.
RCA Financial Partners is a Consulting and Advisory Firm to data
resource innovators at the critical inflection point where proven
technology requires prudent financing for success. We help our
clients connect with well informed investors.
SOURCE mCloud Technologies Corp.