|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.6000 - 2.7200|
|52 Week Range||2.4998 - 4.9200|
|Beta (5Y Monthly)||1.55|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Each Unit will be comprised of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will be exercisable to acquire one common share (a "Warrant Share") for a period of two years following the closing of the Offering at an exercise price of $4.75 per Warrant Share, subject to adjustment in certain events.
The acquisition of kanepi, which will be made through a newly incorporated subsidiary of mCloud, will supplement mCloud’s customer base and accelerate the expansion of AssetCare™ to new asset classes. Founders and Managing Directors Tim Haywood and Shane Attwell have led kanepi since its inception in 2014. The core technologies from kanepi are ready to be integrated into mCloud’s AssetCare™ cloud platform.
Included in this agreement is cooperation with nybl to deliver a joint solution that will connect and optimize an initial 2,000 oil wells in North America and Kuwait . Through the arrangement, mCloud will have the exclusive licensing rights to nybl's lift.ai™ technology in North America , where these capabilities will become part of the Company's AssetCare solution suite for Connected Industry.
Each Unit will consist of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"), with each Warrant being exercisable to acquire one common share of the Company (a "Warrant Share") at an exercise price of C$5.40 per Warrant Share for a term of five years following the closing of the Offering. "We are proud to have attracted the attention of investors all over the world as we continue our journey toward being listed on the NASDAQ this year," said Chantal Schutz , mCloud Executive Vice President and Chief Financial Officer.
In the news release, mCloud Reports Audited Full Year 2019 and Q1 2020 Financial Results, issued 26-May-2020 by mCloud Technologies Corp. over CNW, we are advised by the company that the webcast link in the Combined Full Year 2019, Q4 2019, and Q1 2020 Conference Call section was leading to an incorrect page. "Our strong top-line revenues and consistent margins made 2019 a solid year of growth for mCloud," said Russ McMeekin , mCloud President and CEO.
A conference call to discuss the financial results for both the fourth quarter 2019 and first quarter 2020 will be held on May 26, 2020 , at 5:30 p.m. ET . The conference call will include prepared remarks, including a virtual presentation and an outlook for the remainder of 2020, from Russ McMeekin , Chief Executive Officer, and Chantal Schutz , Chief Financial Officer. To access the conference call by telephone, dial 647-427-7450 or 1-888-231-8191.
This growth builds on the Company's announcement on March 24, 2020 that mCloud had connected over 41,000 at year-end 2019. As with all AssetCare building solutions, mCloud will use these and other technologies to help retail and restaurant facility managers become more energy efficient and sustainable, backed by a global team of retail building experts and 24/7 live operations support.
Once a receipt is issued for the Prospectus, the Prospectus will allow the Company to offer from time to time, over a 25-month period, common shares, preferred shares, debt securities, subscription receipts, warrants and units with an aggregate value of up to $200 million . Should the Company offer any securities, it will make a prospectus supplement available that will include the specific terms of the securities being offered.
mCloud Connects 41,000 Assets in 2019 Including C$8 Million in Remote AssetCare™ Oil and Gas Subscriptions
mCloud Evaluates Alternatives with BuildingIQ Resulting from Material Misrepresentations Found During Due Diligence
The Amended Filings are required by the British Columbia Securities Commission ("BCSC") in support of the regulatory process for the Company's filing of a short form prospectus on November 15, 2019 .
In the news release, mCloud Announces Tuck-In Acquisition of AI Visual Inspection Technology from AirFusion, issued 10-Feb-2020 by mCloud Technologies Corp. over CNW, we are advised by the company that the first paragraph, first sentence should read "February 7, 2020" rather than "February 5, 2020" as originally issued inadvertently. Acquisition brings AssetCare™ to major wind operators and OEMs in continental Europe , with plans to extend AI-powered wind turbine blade inspection to customers globally, including China and North America , in Q1 2020.
The aggregate gross proceeds under the Offering, inclusive of the Additional Tranche, is $13,331,500 . The terms of the Special Warrants are disclosed in the January 14, 2020 press release of the Company. The securities issued in connection with the Additional Tranche will be subject to a four month hold period from the date of closing unless a qualifying prospectus is filed and deemed effective within that time.
Through the added capabilities provided by CSA, the Company also announced today that it plans to complete its first 3D Digital Twin engagements with customers in three regions before the end of Q2 2020. "The demand for our 3D Digital Twin capabilities has been strong and swift," said Costantino Lanza , mCloud's Chief Growth and Revenue Officer.
Each Special Warrant will be convertible into one unit of the Company (each, a "Unit") without payment of any additional consideration upon certain conditions being met. Each Unit will consist of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"), with each Warrant being exercisable to acquire one common share of the Company (a "Warrant Share") at an exercise price of C$5.40 per Warrant Share for a term of five years following the closing of the Offering (the "Closing").
This includes, but is not limited to, the execution of a definitive agency agreement with the agents in respect of the Offering, Raymond James Ltd. and Paradigm Capital Inc., and receipt of regulatory approvals, including approval of the TSX Venture Exchange. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the 1933 Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States , nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Pursuant to the proposed Offering, the Company will issue special warrants ("Special Warrants") of the Company at a price of C$4.00 per Special Warrant. Each Special Warrant will be convertible into one unit of the Company (each, a "Unit") without payment of any additional consideration upon certain conditions being met.