Universal mCloud to Expand AssetCare™ to Improve HVAC Performance at Cinemark Theatres

2018-11-28T16:58:20+00:00September 6th, 2018|Press Release|
  • mCloud increases number of connected assets with Cinemark by 60%
  • Assetcare™ deployed at 24 Cinemark Locations

VANCOUVERSept. 6, 2018 /CNW/ – Universal mCloud Corp. (TSX-V: MCLD) (OTCQB: MCLDF) (“mCloud” or the “Company”), a leading provider of Artificial Intelligence and Analytics (“AI&A”) and IoT-connected asset care technology, is pleased to announce that Cinemark, a leader in the motion picture exhibition industry and a strategic mCloud customer, is adding nine new locations and more than 230 rooftop HVAC units in Illinois to be managed by AssetCareTM. Earlier in 2018, mCloud enrolled nearly 400 of Cinemark’s HVAC units onto the AssetCareTM platform in Southern California.

mCloud and Cinemark have partnered to implement AssetCareTM with support from a ComEd utility incentive program, which ensures accurate measurement of baseline performance and verification of energy savings.  AssetCareTM starts with an assessment of each HVAC unit to identify energy savings measures and evaluate retrofit opportunities. mCloud will equip mechanical service partners with diagnostic tools and software to inspect Cinemark’s HVAC units, including refrigeration cycle performance.
“Cinemark is dedicated to consistently delivering an exceptional guest experience, including a comfortable temperature within our theaters, which relies upon the efficiency and effectiveness of our HVAC systems,” stated Art Justice, Cinemark’s VP of Energy & Sustainability. “We are greatly looking forward to working with mCloud to further enhance our HVAC functionality, generate incremental energy savings, and advance our environmental sustainability.”

Dave Weinerth, mCloud’s President of Smart Buildings added, “Cinemark leads the industry with exceptional energy management and we are excited to partner with a company whose goals and objectives align with our vision and trajectory.  We are extremely pleased to extend AssetCareTM to more than 600 total Cinemark HVAC units across the U.S., broadening our total impact on the performance of more than 20,000 total assets expected by year end.”

ABOUT UNIVERSAL MCLOUD CORP.

Universal mCloud is headquartered in Vancouver, BC with technology and operations centers in San Francisco, CA and Bristol, PA. mCloud is an Artificial Intelligence and Analytics, IoT connected asset care cloud solution company utilizing connected IoT devices, AI, deep energy analytics, secure mobile and 3D technologies that rally all asset stakeholders around an Asset-Circle-of-Care™, providing complete real-time and historical data coupled with guidance and advice based on deep analytics and diagnostics resulting in optimal performance and care of critical equipment. It’s all about the asset. The powerful and secure AssetCare™ environment is accessible everywhere, 24/7 through standard mobile devices, ruggedized headsets, and web browsers. For more information, visit www.mCloudCorp.com

ABOUT CINEMARK HOLDINGS, INC.:

Cinemark is a leading domestic and international motion picture exhibitor, operating 539 theatres with 5,998 screens in 41 U.S. states, BrazilArgentina and 13 other Latin American countries as of June 30, 2018. For more information go to investors.cinemark.com.

Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information contained herein includes, but is not limited to, prospective financial results and business prospects of the Company and the completion of proposed transactions with CSA and Flow Capital.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements.

An investment in securities of the Company is speculative and subject to a number of risks including, without limitation, the risks discussed under the heading “Risk Factors” on pages 29 to 46 of the Company’s filing statement dated October 5, 2017. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

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 Universal-mCloud Corp

For further information: Madelin Daviau, NATIONAL | Equicom, T: 416-848-9833, mdaviau@national; Russ McMeekin, Chief Executive Officer, Universal mCloud Corp., T: 415-635-3500