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mCloud Provides Further Update on Repayment of Outstanding Unsecured Convertible Debentures
Thursday, July 7, 2022Company Profile | Follow Company
Vancouver, BC, July 7, 2022--(T-Net)--mCloud Technologies Corp. (Nasdaq: MCLD) (TSXV: MCLD), a provider of AI-powered asset management and Environmental, Social, and Governance ("ESG") solutions has provided a further update on the planned repayment of its outstanding unsecured convertible debentures due on June 30, 2022.
mCloud recently provided an update indicating it had filed an F-1 registration statement with the SEC on May 11 in connection with a previously announced preferred share offering. Since then, the Company has received and responded to additional brief comments from the SEC and updated its F-1 accordingly.
The Company has also communicated the proposed timing of completion of the preferred share offering.
mCloud says it plans to repay in full the outstanding principal and interest on the Debentures upon completion of the offering, which management expects to occur on or about July 14, 2022.
To receive payment, holders of Debentures must surrender the certificates evidencing their Debentures to TSX Trust Company, the Debenture agent, at the following address: TSX Trust Company, 1 Toronto Street, Suite 1200, Toronto, Ontario, M5C 2V6, Attention: Corporate Actions.
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 their performance.
With a worldwide presence and offices in San Francisco, Houston, 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 64,000 assets connected in thousands of locations worldwide, mCloud is changing the way energy assets are managed.
mCloud's common shares trade in the United States on the Nasdaq and in Canada on the TSX Venture Exchange under the symbol MCLD. mCloud's convertible debentures trade on the TSX Venture Exchange under the symbol MCLD.DB..Forward-Looking Information and Statements
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 and forward-looking statements contained herein may include statements regarding the anticipated closing of the offering, including the receipt of all necessary approvals for the completion of the offering, the Company's intended use of the net proceeds from the offering and the Company's anticipated listing of its common shares on The Nasdaq Capital Market. [ MORE ] |
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