Life Science News

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Cloud DX Inc. ("Cloud" or the "Corporation") (TSXV:CDX) (OTCQB:CDXFF), a leading North American provider of virtual care and Remote Patient Monitoring (RPM) solutions, is pleased to announce that it has closed the previously announced brokered private placement (the "Private Placement") led by Echelon Wealth Partners Inc. (the "Agent"), as sole agent. Upon closing of the Private Placement, the Corporation issued 2,192 units (the "Units") of the Corporation at a price of $1,000 per Unit, for gross proceeds of $2,192,000 (the "Offering"). Each Unit is comprised of (i) a C$1,000 principal amount unsecured convertible debenture (each, a "Debenture") and (ii) 1,430 common share purchase warrants of the Corporation (each, a "Warrant"). The Debentures will mature on the date that is 36 months from the date of closing of the Private Placement (the "Maturity Date") and shall bear interest at a simple rate of 10% per annum. The principal amount of the Debentures may be converted at the election of the holder thereof into common shares in the capital of the Company ("Common Shares") at a conversion price of C$0.35 per Common Share (the "Conversion Price") at any time prior to the Maturity Date. Each Warrant entitles the holder thereof to acquire one common share of the Corporation (each, a "Common Share") at a price of C$0.50 per Common Share for a period of 24 months from the date of closing of the Private Placement

As consideration for services rendered in connection with the Offering, the Corporation: (i) paid to the Agent a cash commission in the amount equal to 8% (3.0% from the sale of Units to subscribers identified on the Corporation's president's list) of the gross proceeds of the Offering;and (ii) issued to the Agent such number of non-transferable common share purchase warrants (the "Agent's Warrants") as is equal to 8% of the gross proceeds raised from the Offering (reduced to 3% from the sale of Units to subscribers identified on the Corporation's president's list) divided by the Conversion Price. Each Agent's Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.35 per Common Share for a period of 24 months from the date of closing of the Private Placement.

The Corporation intends to use the net proceeds from the Offering for sales, marketing, research and development, and working capital requirements.

In accordance with applicable Canadian securities laws, all securities issued pursuant to the Offering will be subject to a four (4) month hold period ending February 1, 2022. The Offering remains subject to final approval from the TSX Venture Exchange.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Join CEO Robert Kaul in October for an in-depth look at Cloud DX's future roadmap. The company's next monthly investor's update, 'Generating Revenue in RPM' will be held October 12, 2021, at 12:00 pm EDT. Registration is now live.

About Cloud DX

Accelerating virtual healthcare's future, Cloud DX is making healthcare better for everyone. The Corporation's Connected HealthTM remote patient monitoring platform is used by healthcare enterprises and care teams across North America to virtually manage chronic disease, enable aging in place, and deliver hospital-quality post-surgical care at home. Providers partnering with Cloud DX achieve better healthcare and patient outcomes, reduce the need for hospitalization/rehospitalization, and reduce healthcare delivery costs through more efficient use of resources. Cloud DX is the co-winner of the Qualcomm Tricorder XPRIZE, a 2021 Edison Award winner, a Fast Company "World Changing Idea" finalist, and one of "Canada's Ten Most Prominent Telehealth Providers."

Social Links:

Twitter: https://twitter.com/CloudDX
Facebook https://www.facebook.com/clouddxinc/
LinkedIn https://www.linkedin.com/company/cloud-dx/
Instagram https://www.instagram.com/cloud.dx/

For media inquiries please contact:

Janine Scott
Marketing Lead
888-543-0944
janine.scott@cloudDX.com

For investor inquiries please contact:

Jay Bedard
Cloud DX Investor Relations
647-881-8418
jay.bedard@CloudDX.com

Forward-Looking Information

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. In particular, this news release includes certain forward-looking statements concerning the Offering, including the use of the net proceeds, as well as management's objectives, strategies, beliefs and intentions.

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. In making the forward-looking statements in this news release, the Corporation has applied several material assumptions, including without limitation, information concerning the receipt of approval from the TSX Venture Exchange, the use of proceeds and the Corporation's marketing and research and development strategies and the expected benefits thereof.

Although management of the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information.

The securities of the Corporation have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of the securities referenced in this press release, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the 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.

SOURCE: Cloud DX Inc.



View source version on accesswire.com:
https://www.accesswire.com/666473/Cloud-DX-Announces-Closing-of-Brokered-Private-Placement

News Provided by ACCESSWIRE via QuoteMedia

Graphene Manufacturing Group Announces Filing of Its Amended Annual Financial Statements for The Years Ended 30 June 2022 and 2021

Graphene Manufacturing Group Announces Filing of Its Amended Annual Financial Statements for The Years Ended 30 June 2022 and 2021

Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") announces the filing of its amended audited financial statements for the years ended June 30, 2022 and 2021 (the "Amended Financial Statements") to amend the Company's audited annual statements filed on SEDAR on September 29, 2022. The Amended Financial Statements have been filed to include an unmodified auditor's report to reflect that the statements have been audited in accordance with Canadian generally accepted auditing standards, as required by NI 52-107 Acceptable Accounting Principles and Audited Standards. In addition, the Amended Financial Statements have been updated with a current date of authorization and thus changes have been made to the disclosures for going concern and subsequent events. Other than these disclosure updates, no other changes have been made to the Amended Financial Statements.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Alkaline Fuel Cell Power Corp. Announces CEO Frank Carnevale will Webcast Live at VirtualInvestorConferences.com December 1st

Alkaline Fuel Cell Power Corp. Announces CEO Frank Carnevale will Webcast Live at VirtualInvestorConferences.com December 1st

Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (" PWWR " or the " Company "), a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that PWWR's CEO, Frank Carnevale, will be giving a Company presentation live at VirtualInvestorConferences.com on December 1st, 2022.

DATE: December 1st, 2022
TIME: 12:30 – 1:00 pm EST
LINK: https://bit.ly/3WBnUTQ

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
REPEAT - Alkaline Fuel Cell Power Corp. Announces Letter of Intent for Joint Venture with AmmPower Corp. for Fuel Cell Generator Pilot Using Green Ammonia

REPEAT - Alkaline Fuel Cell Power Corp. Announces Letter of Intent for Joint Venture with AmmPower Corp. for Fuel Cell Generator Pilot Using Green Ammonia

Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (" PWWR " or the " Company "), a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that on November 3 rd 2022, the Company executed a non-binding letter of intent (the " LOI ") with AmmPower Corp. (" AmmPower "), a company developing technology to convert green ammonia into green hydrogen. The LOI summarizes the intentions of the Company and AmmPower entering into a joint venture (the " JV ") for the development of a pilot project testing PWWR's off-grid fuel cell generator and AmmPower's ammonia cracking technology (the " Pilot ").

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
dynaCERT Launches Private Placement of Carbon Credit Convertible Notes

dynaCERT Launches Private Placement of Carbon Credit Convertible Notes

dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) (" dynaCERT " or the "Company") is pleased to announce that it has launched an offering of up to $10,000,000 of Carbon Credit Convertible Notes under private placement exemptions in Canada. The offering is not convertible into the Company's common shares and is non-dilutive to shareholders of the Company.

Each Carbon Credit Convertible Note is priced at $1,000 (Canadian) with a maturity date of ten (10) years after the date of issue. Commencing at the fifth (5 th ) anniversary after the date of issue, the Carbon Credit Convertible Notes will be convertible, at any time thereafter, at the option of the holder, into Carbon Credits generated by dynaCERT's proprietary HydraGEN™ Technology.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Alkaline Fuel Cell Power Corp. Announces Letter of Intent for Joint Venture with AmmPower Corp. for Fuel Cell Generator Pilot Using Green Ammonia

Alkaline Fuel Cell Power Corp. Announces Letter of Intent for Joint Venture with AmmPower Corp. for Fuel Cell Generator Pilot Using Green Ammonia

Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (" PWWR " or the " Company "), a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that on November 3 rd 2022, the Company executed a non-binding letter of intent (the " LOI ") with AmmPower Corp. (" AmmPower "), a company developing technology to convert green ammonia into green hydrogen. The LOI summarizes the intentions of the Company and AmmPower entering into a joint venture (the " JV ") for the development of a pilot project testing PWWR's off-grid fuel cell generator and AmmPower's ammonia cracking technology (the " Pilot ").

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
REPEAT - Alkaline Fuel Cell Power Corp. Closes Convertible Note Financing

REPEAT - Alkaline Fuel Cell Power Corp. Closes Convertible Note Financing

Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (" AFCP " or the " Company "), a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to the closing of a convertible note (the " Convertible Note ") financing in an aggregate amount C$4,000,000 (the " Financing ").

"We are pleased with the support of our investors for this Financing," said Frank Carnevale, Chief Executive Officer. "The Financing will assist with our working capital and allow the Company to focus on developing affordable renewable energy projects."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×