TORONTO, June 04, 2020 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV:DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the "Company" or "CloudMD"), a telemedicine company seeking to revolutionize the delivery of healthcare to patients, is pleased to announce that, effective at market open today, it has commenced trading its common shares on the TSX Venture Exchange (the "TSXV").
The Company will continue to trade under its symbol "DOC". The CUSIP 18912C102 and ISIN CA18912C1023 will remain the same.
The Company's common shares have been delisted from the Canadian Securities Exchange. Shareholders of the Company are not required to take any action with respect to their shareholdings in connection with the Company's listing on the TSXV.
Further to the Company's news release of June 2, 2020, the Company issued 10,678,900 warrants (the "Warrants") on the Canadian Securities Exchange.
Each Warrant is 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 $1.00 per Warrant.
The Warrants will continue to be listed on the Canadian Securities Exchange under CUSIP 18912C136 until further notice.
About CloudMD Software & Services
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 Canada and has developed proprietary technology that delivers quality healthcare through the combination of connected primary care clinics, telemedicine, and artificial intelligence (AI). CloudMD currently provides service to a combined ecosystem of 376 clinics, over 3000 licensed practitioners and almost 3 million patient charts across its servers.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. 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 state securities laws, and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
ON BEHALF OF THE BOARD OF DIRECTORS
"Dr. Essam Hamza, MD"
Chief Executive Officer
FOR ADDITIONAL INFORMATION CONTACT:
CloudMD Software & Services Inc.
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, listing on the TSXV and its intended use of the proceeds of the Offering. 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 Toronto Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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