SAN
FRANCISCO, June 27, 2022 /CNW/ - mCloud
Technologies Corp. (Nasdaq: MCLD) (TSX-V: MCLD), ("mCloud"
or the "Company") a leading provider of AI-powered asset management
and Environmental, Social, and Governance ("ESG") solutions today
provided an update on the planned repayment of its outstanding
unsecured convertible debentures due on June
30 , 2022 (the "Debentures").
mCloud filed an F-1 registration statement with
the SEC on May 11 in connection with
its previously announced preferred share offering. The Company has
received and responded to comments toward the anticipated clearing
of the registration statement and anticipates completing the
offering following the registration statement becoming effective,
with proceeds largely from existing and additional strategic
investors. The Company intends to use a portion of the proceeds of
the offering to repay in full the outstanding principal and accrued
interest under the Debentures.
To receive payment, holders of Debentures must
surrender the certificates evidencing their Debentures to TMX Trust
Company, the Debenture agent, at the following address: TSX Trust
Company, 1 Toronto Street, Suite 1200, Toronto, Ontario, M5C 2V6, Attention:
Corporate Actions.
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, Houston, Vancouver, Calgary, London, Perth, Singapore, 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 64,000 assets connected in thousands of locations worldwide,
mCloud is changing the way energy assets are managed.
mCloud's common shares trade in the United States on the Nasdaq and in
Canada on the TSX Venture Exchange
under the symbol MCLD. 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.
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SOURCE mCloud Technologies