mCloud Provides Further Update on Repayment of Outstanding Unsecured Convertible Debentures

mCloud Technologies Corp. a leading provider of AI-powered asset management and Environmental, Social, and Governance (“ESG”) solutions provided a further update on the planned repayment of its outstanding unsecured convertible debentures due on June 30, 2022 (the “Debentures”).

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On June 27, 2022, mCloud 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 also communicated the proposed timing of completion of the preferred share offering. mCloud 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.

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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.

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