SAN
FRANCISCO, May 12, 2023 /CNW/ - mCloud
Technologies Corp. (NASDAQ: MCLD) (TSXV: MCLD) ("mCloud" or the
"Company") a provider of cloud technology solutions optimizing the
performance, reliability and sustainability of energy-intensive
assets, is providing an update on the status of the filing of its
annual financial statements, accompanying management's discussion
and analysis, related CEO and CFO certifications and annual
information form for the financial year ended December 31, 2022 (collectively, the "Annual
Filings"). The Company is continuing to work diligently and
expeditiously to complete and file the Annual Filings as soon as
possible. As previously announced, the Company has been granted a
Management Cease Trade Order by the British Columbia Securities
Commission.
The Company intends to follow the provisions of the Alternative
Information Guidelines set out in National Policy 12-203 for so
long as the Annual Filings are outstanding, including the issuance
of bi-weekly default status reports in the form of news releases
similar to this release, all of which will be filed on SEDAR. The
Company confirms that there are no insolvency proceedings against
it as of the date of this press release. The Company also confirms
that there is no other material information concerning the affairs
of the Company that has not been generally disclosed as of the date
of this press release.
About mCloud Technologies Corp.
mCloud is unlocking the untapped potential of energy-intensive
assets with cloud-based solutions that curb energy waste, maximize
energy production, eliminate harmful emissions, and get the most
out of critical energy infrastructure. Through mCloud's portfolio
of AssetCare® solutions, mCloud enables asset owners and operators
in energy- and asset-intensive industries such as oil and gas,
wind, and commercial facilities to use cloud-based digital twins,
AI, and analytics to optimize asset performance, reliability, and
sustainability. mCloud has a worldwide presence with offices in
North America, Europe, the Middle
East, and Asia-Pacific.
mCloud's common shares trade in the
United States on Nasdaq and in Canada on the TSX Venture Exchange under the
symbol MCLD. Visit mcloudcorp.com to learn more.
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 contained herein includes information concerning the
filing of the Annual Filings.
By identifying such information and statements in this manner,
the Company is alerting the reader that such information and
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
information and statements.
A more complete discussion of the risks and uncertainties facing
the Company appears in the Company's Annual Information Form and
other continuous disclosure filings, which are available on SEDAR
at www.sedar.com and EDGAR at www.sec.gov. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking information and forward-looking statements, there
may be other factors that cause results not to be as anticipated,
estimated or intended.
In connection with the forward-looking information and
forward-looking statements contained in this press release, the
Company has made certain assumptions. Although the Company believes
that the assumptions and factors used in preparing, and the
expectations contained in, the forward-looking information and
statements are reasonable, undue reliance should not be placed on
such information and statements, and no assurance or guarantee can
be given that such forward-looking information and statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information and
statements. The forward-looking information and forward-looking
statements contained in this press release are made as of the date
of this press release, and the Company does not undertake to update
any forward-looking information and/or forward-looking statements
that are contained or referenced herein, except in accordance with
applicable securities laws. All subsequent written and oral
forward-looking information and statements attributable to the
Company or persons acting on its behalf is expressly qualified in
its entirety by this notice.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE mCloud Technologies Corp.