CALGARY, AB, Nov. 25, 2021 /PRNewswire/ - mCloud
Technologies Corp. (TSXV: MCLD) (NASDAQ: MCLD) ("mCloud" or the
"Company"), a leading provider of AI-powered asset management and
Environmental, Social, and Governance ("ESG") solutions, announced
today it is amending its credit facility with ATB Financial
The ATB credit facility is a C$5,000,000 margined, demand operating loan
facility. This facility is available to pay out in full all
indebtedness and liability owing to another financial institution,
and thereafter, for the general corporate purposes of the Company.
As part of the amendment, ATB is providing an additional
C$5,000,000 via an accordion, subject
to lender consent.
In consideration of ATB making available to mCloud additional
advances under the credit facility, and subject to the approval of
the TSX Venture Exchange, mCloud will grant to ATB non-transferable
warrants to acquire up to 183,486 common shares at an exercise
price of C$5.45 per share for a term
not exceeding the earlier of three years and the term of the
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
With a worldwide presence and offices in San Francisco, 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 62,000 assets connected in thousands of locations worldwide,
mCloud is changing the way energy assets are managed.
mCloud's common shares trade in Canada on the TSX Venture Exchange and in
the United States on the Nasdaq
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.
SOURCE mCloud Technologies Corp.