09:25:53 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



mCloud Technologies Corp (3)
Symbol MCLD
Shares Issued 16,229,036
Close 2023-02-03 C$ 1.46
Market Cap C$ 23,694,393
Recent Sedar Documents

mCloud Technologies still working on offerings

2023-02-03 17:09 ET - News Release

An anonymous director reports

MCLOUD PROVIDES UPDATE ON FINANCING ACTIVITIES

mCloud Technologies Corp. has provided an update on its financing activities.

On Dec. 28, 2022, mCloud announced it had closed an initial $10.5-million (U.S.) public offering of 9.0 per cent Series A cumulative perpetual preferred shares and warrants. The company reaffirmed today it intends to continue closing additional proceeds under its Form F-1 registration statement with the U.S. Securities and Exchange Commission (SEC), which became effective on Dec. 22, 2022.

On Dec. 6, 2022, mCloud announced it had commenced the closing process of initial proceeds from a non-brokered offering of common shares of the company, originally announced on Nov. 1, 2022. mCloud continues to make progress with the offering. Given the complex requirements to close these proceeds, the company now expects to complete this offering around the end of February.

The company plans to use the net proceeds from the offering to retire certain debts and provide working capital to support initiatives such as the accelerated deployment of the company's sustainability and decarbonization capabilities on Google Cloud, and expansion in key strategic markets including Saudi Arabia.

Completion of the offering remains subject to receipt of all required approvals, including the final approval of the TSX Venture Exchange. The securities issued under the offering will be subject to a four-month hold period from the date of issuance in accordance with applicable securities legislation.

About mCloud Technologies Corp.

mCloud is unlocking the untapped potential of energy-intensive assets with cloud-based solutions that curb energy waste, maximize energy production, eliminate harmful emissions and get the most out of critical energy infrastructure. Through mCloud's portfolio of AssetCare solutions, mCloud enables asset owners and operators in energy- and asset-intensive industries such as oil and gas, wind, and commercial facilities to use cloud-based digital twins, artificial intelligence and analytics to optimize asset performance, reliability and sustainability. mCloud has a worldwide presence with offices in North America, Europe, the Middle East and Asia-Pacific. mCloud's common shares trade in the United States on Nasdaq and in Canada on the TSX Venture Exchange under the symbol MCLD.

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