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UNIVERSAL MCLOUD CORP. ANNOUNCES COMMENCEMENT OF NON-BROKERED PRIVATE PLACEMENT TO SUPPORT RECENT CHINA MARKET EXPANSION INITIATIVE

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Universal mCloud Corp. is commencing a non-brokered private placement of units of mCloud, at a price of 35 cents per unit, for gross proceeds of up to $2-million. Each unit comprises one common share of mCloud and one-half of one common share purchase warrant of mCloud. Each warrant entitles the holder thereof to purchase one additional common share, at a price of 45 cents per common share, for a period of 36 months following the issuance of the warrant.

mCloud intends to use the net proceeds from the offering for its recently announced China expansion, residual merger and acquisition activities, and general working capital purposes.

The securities issued under the offering will be subject to a four-month hold period in accordance with applicable securities legislation.

About Universal mCloud Corp.

Universal mCloud is headquartered in Vancouver, B.C., with technology and operations centres in San Francisco, Calif., and Bristol, Pa. mCloud is an Internet-of-things-connected asset care cloud solution company utilizing connected IoT devices, leading deep energy analytics, secure mobile and 3-D technologies that rally all asset stakeholders around an Asset-Circle-of-Care, providing complete real-time and historical data coupled with guidance and advice based on deep analytics and diagnostics resulting in optimal performance and care of critical equipment.

We seek Safe Harbor.

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