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mCloud Technologies closes $4 million non-brokered offering

The Vancouver-based technology company issued 1,095,890 units at a revised price of C$3.65 per unit

mCloud Technologies Corp -
Proceeds from the offering will go towards general corporate purposes and working capital

mCloud Technologies Corp (CVE:MCLD) (OTCQB:MCLDF) announced Friday it has closed a C$4 million non-brokered offering of nearly 1.1 million units.

The Vancouver-based technology company issued 1,095,890 units at a revised price of C$3.65 per unit, with each unit consisting of one share and one-half of one warrant exercisable at C$4.75 for a five-year term.

Proceeds from the offering will go towards general corporate purposes and working capital.

READ: mCloud Technologies closes C$11.5 million oversubscribed financing to help close kanepi Group acquisition

mCloud recently closed a C$11.5 million financing to help fund its acquisition of Australian visualization and analytics software company kanepi Group Pty Ltd.

kanepi operates a development centre in Singapore, and its footprint in the southern hemisphere will supplement mCloud’s existing customer base and enhance its AssetCare cloud platform.

Following the closing of the offering, mCloud will have 24,819,545 shares outstanding.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: mCloud Technologies Corp

Price: 2.98 CAD

TSX-V:MCLD
Market: TSX-V
Market Cap: $73.96 m
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