/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
Each Unit shall consist of one common share (each a "Common Share") and one-half of one common share purchase warrant of the Company (each a "Warrant"). Each Warrant shall be exercisable to acquire one common share of the Company for a period of 24 months from closing of the transaction at an exercise price of
The Company has granted the Underwriters an option (the "Over-Allotment Option") to purchase up to an additional 2,142,900 Units at a price of
The Units will be offered by way of a short form prospectus to be filed in all provinces of
The Company will use best efforts to obtain the necessary approvals to list the Common Shares, Warrants and the Common Shares issuable upon exercise of the Warrants on the
CloudMD intends to use the proceeds of the Offering for potential M&A activities to support the Company's strategic growth plans and general corporate purposes.
About
CloudMD is digitizing the delivery of healthcare by providing patients access to all points of their care from their phone, tablet or desktop computer. The Company offers SAAS based health technology solutions to medical clinics across
ON BEHALF OF THE BOARD OF DIRECTORS
"Dr.
Chief Executive Officer
Forward Looking Statements
This news release contains forward-looking statements that are based on CloudMD's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to its business plans. Although CloudMD believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and CloudMD undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE
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