Universal mCloud Provides Update on Its Recently Completed Non-Brokered Private Placement

2018-11-28T17:10:43+00:00October 18th, 2018|Press Release|

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVEROct. 18, 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 provide an update further to its press release on October 15, 2018 announcing the closing of its non-brokered private placement (the “Offering”).

Under the Offering, the Company issued a total of 12,956,339 units (each, a “Unit”) at a price of $0.35 per Unit for aggregate gross proceeds of $4,534,719. The Offering is subject to the final approval of the TSX Venture Exchange.

In addition, the Company issued a further 142,450 common shares as compensation to certain finders who, in lieu of cash finder’s fees, subscribed for common shares of the Company at $0.35 per share.

The securities issued under the Offering are subject to a four-month hold period in accordance with applicable securities legislation.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United Statesor to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

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.ca; Russ McMeekin, Chief Executive Officer, Universal mCloud Corp., T: 415-635-3500