mCloud Announces Proposed Unsecured Loan from Strategic Investors

mCloud Technologies Corp. (Nasdaq: MCLD) (TSX-V: MCLD), (“mCloud” or the “Company”) a leading provider of AI-powered asset management and Environmental, Social, and Governance (“ESG”) solutions announced it proposes to enter into arrangements to receive unsecured non-convertible loans from a group of arm’s length strategic investors (the “Lenders”), pursuant to which mCloud will borrow approximately US$2 million, or such larger amount as may be agreed by the parties (the “Loan”). The Loan will bear interest of 15% per annum and the maturity date of the Loan will be the date that is 8 months following the date that the Lenders provide the Loan to the Company.

Subject to the approval of the TSX Venture Exchange (the “TSXV”), the Company will issue up to an aggregate of 2,127,660 share purchase warrants to the Lenders as inducement for the Loans (the “Loan Bonus Warrants”). Each Loan Bonus Warrant will entitle the holder to purchase one common share of the Company at an exercise price of US$0.94 until the date that is five years following the date that the Company issues the Loan Bonus Warrants to the Lenders. Any securities issued in connection with the Loan will be subject to a statutory four month hold period.

The proceeds of the Loan will be used to support the Company’s ongoing growth initiatives and for general working capital purposes.

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, 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 67,000 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. For more information, visit

Alex Sanchez

Alex Sanchez has an MBA degree specializing in finance. He has extensive knowledge in finance and his deep passion for writing and analysis is well-known for its precision and plenitude. Alex loves reading, classical music, chess, and dogs. He continues to inspire through blogging and writing, focusing on the Business category.

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Contact number: 508-462-7042