VANCOUVER, April 30, 2020 /CNW/ - mCloud
Technologies Corp. (TSX-V: MCLD, MCLD.DB) (OTCQB: MCLDF)
("mCloud" or the "Company"), a leading provider of asset management
solutions combining IoT, cloud computing, artificial intelligence
("AI") and analytics, today announced it has filed a prospectus
supplement (the "Supplement") to its short form base shelf
prospectus dated April 28, 2020 for
Nunavut and to the amended and
restated short form base shelf prospectus of the Company dated
April 28, 2020 (collectively, the
"Base Shelf Prospectus") in connection with its previously
announced C$13.3 million private
placement of special warrants (the "Special Warrants"), as
announced on December 17, 2019,
January 14, 2020 and January 27, 2020. Each Special Warrant shall be
automatically exercised (without payment of any further
consideration) into 1.1 units of the Company ("Units"), with each
Unit consisting of one common share of the Company and one-half of
one common share purchase warrant, with each whole common share
purchase warrant exercisable to acquire one common share of the
Company at a price of $5.40 per
common share until January 14, 2025,
subject to adjustment in certain events.
The Supplement was filed with the securities regulatory
authorities in the Provinces and Territories of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, Prince
Edward Island, Newfoundland
and Labrador and Nunavut. (collectively, the "Securities
Commissions"). Copies of the Base Shelf Prospectus and the
Supplement are available under the Company's profile on SEDAR at
www.sedar.com.
The securities have not been, and will not be, registered under
the United States Securities Act of 1933, as amended (the "1933
Act"), or any U.S. state securities laws, and may not be offered or
sold in the United States without
registration under the 1933 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 securities in the United States, nor shall there be any sale
of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
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 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 48,000 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.
SOURCE Universal mCloud Corp.