/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
CALGARY, AB, Aug. 31, 2021 /CNW/ - mCloud Technologies
Corp. (TSXV: MCLD) (OTCQB: MCLDF) ("mCloud" or the
"Company"), a leading provider of AI-powered asset management and
Environmental, Social, and Governance ("ESG") solutions today
announced the complete program for mCloud Connect 2021, the
Company's annual customer event taking place on September 14, 2021.
mCloud Connect 2021 will be held as a livestreamed virtual
event, bringing together industry, high-tech, and finance leaders
from around the world to address the digital revolution that new
technologies are enabling in operating critical infrastructure in a
post COVID-19 world.
Event highlights include:
- Opening Keynote from Lucas Joppa, Microsoft's Chief
Environmental Officer: Joppa will share his views on
"Engineering a Climate-Stable Future."
- What's New with AssetCare: At the event, mCloud will
share new capabilities and technology updates across the entire
AssetCare™️ family of solutions.
- Interactive panels: Attendees will be invited to
participate in discussions with industry leaders and the mCloud
team in areas including the role of AI in ESG strategy, the
digitalization of oil and gas, cloud security, and the future of
connected work.
- Closing Keynote from Chris
Hadfield, Canadian astronaut and commander of the
International Space Station: Referred to as "the most famous
astronaut since Neil Armstrong,"
Hadfield will join mCloud Connect to share his unique perspective
on the future.
Sessions will include executives from some of the most
influential companies in the arena of digital transformation
including Shell, NOVA Chemicals, AltaGas, TransAlta, RealWear, and
more.
Leading host, moderator, and facilitator Mark Jeffries will be the emcee for this year's
mCloud Connect. Jeffries has interviewed hundreds of thought
leaders, luminaries, and A-List celebrities and hosted some of the
world's most notable events and conferences in high-tech.
Registration for mCloud Connect is free. For more information
and to register for the event, visit the event Web site at
www.mcloudconnect.com.
Completion of Debenture Conversion
The Company is also pleased to announce that it has completed
the conversion of more than 99.2% of the outstanding principal
amount of its 8% convertible unsecured subordinated debentures as
previously announced on July 12, 2021
(the "Debentures"). Pursuant to the terms of the conversion
agreements entered into between the Company and holders of the
converted Debentures, the Company issued an aggregate of 6,323,360
common shares ("Common Shares") and 6,323,360 Common Share purchase
warrants ("Warrants") in consideration for the extinguishment of
USD$8,809,000 principal and
USD$302,730 interest owing under the
Debentures (the "Indebtedness). Each Warrant is exercisable for one
Common Share at an exercise price of USD$2.29 per Common Share at any time within 36
months following the issuance date. The Common Shares and Warrants
were issued effective August 13,
2021.
Additional details regarding the conversion of the Debentures
are contained in the Company's July 12,
2021 press release. Following the conversion of the
Indebtedness, $75,000 principal
amount of the Debentures remains outstanding.
The securities referenced herein have not been, and will not be,
registered under the U.S. Securities Act, or any U.S. state
securities laws, and may not be offered or sold in the United States without registration under
the U.S. Securities Act and all applicable state securities laws or
compliance with the requirements of an applicable exemption
therefrom. This news release shall not constitute an offer to sell
or the solicitation of an offer to buy any such securities in
the United States, nor shall there
be any sale of any such securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful.
About mCloud Technologies Corp.
mCloud is unlocking the untapped potential of energy intensive
assets with 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 for 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.
With a worldwide presence and offices in San Francisco, Vancouver, Calgary, London, Perth, and Beijing, 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
62,000 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.
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.