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Universal mCloud Announces Closing of Convertible Debenture Financing

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Universal mCloud Corp. (TSX-V: MCLD) (OTCQB: MCLDF) (“mCloud” or the “Company”), a leading provider of asset management solutions combining IoT, cloud computing, artificial intelligence (“AI”) and analytics, is pleased to announce that it has closed the final tranche of its private placement offering of convertible unsecured subordinated debentures (the “Debentures”) for gross proceeds of C$23,492,800 (the “Offering”).

Under the Offering, the Company issued a total of 234,928 Debentures at a price of $100 per Debenture for aggregate gross proceeds of C$23,492,800. Additional details relating to the Offering are described in the Company’s May 30, 2019press release.

The net proceeds received by the Company will be used, in part, to: (a) satisfy all outstanding cash obligations of the Company in connection with (i) the Company’s previously announced acquisition of Flow Capital Corp.’s royalty interest in Agnity Global, and (ii) the Company’s proposed acquisition of CSA, Inc.; (b) fund ongoing working capital requirements; and (c) fund the proposed expansion of the Company’s business, including its international operations.

“The positive response to this Offering is validation that investors see the trajectory and pathway to revenue growth we are on,” said Russ McMeekin, mCloud President and CEO. “The proceeds raised will allow us to take the necessary steps to continue expanding our business and introduce our leading AssetCare™ platform to new customers and segments across the globe.”

The Company has agreed to compensate finders who introduced purchasers in the Offering. In connection with the completion of the Offering, finders received: a) aggregate cash commissions of $299,355; and b) an aggregate of 598,710 broker warrants, with each broker warrant exercisable for one common share of the Company at an exercise price of $0.50 per share for a period of three years from the date of issuance.

All securities issued by the Company under the Offering are subject to a statutory four month hold period in accordance with applicable securities legislation. The Offering is subject to final approval from the TSX Venture Exchange.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities issued under the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.

 

SOURCE Universal mCloud Corp.

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CannaTech Cape Town Announces Southern Sky Group as Platinum Sponsor at Upcoming Cannabis Summit

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CannaTech is proud to announce that South African cannabis market leader, Southern Sky Group, will be a Platinum Sponsor at our upcoming Cape Town Cannabis Summit this November 24-26.

Southern Sky Group (formerly Southern Sun Pharma) is an Africa-focused cannabis business led by a seasoned team of executives with a significant track record of building shareholder value, both in North America and Africa. With cannabis production licenses and operations across the continent, the recent launch of the high-end CBD retail store – Goodleaf – combined with the acquisition of Africanpure, a leading, local online CBD retailer, Southern Sky is uniquely positioned to supply the African and European market with premier cannabis products.

South Africa became the third country in Africa to legalise medical cannabis in February 2017. Last September, the country initiated a process of legalising cannabis for personal recreational use, joining Uruguay and Canada at the forefront of the Green Rush. Final recreational cannabis regulation is still a grey area, however significant boosts in the sale and import of growing and manufacturing equipment, and the expansion of local cannabis-ready businesses indicates that stakeholders anticipate a cannabis boom in the very near future. This potential boom was further augmented this May by the dramatic decision to remove cannabidiol (CBD) entirely from South Africa’s drug scheduling system. For at least the next year, all products containing a daily dose of 20 mg of CBD or less will be fully legal and this exemption may be extended beyond the trial period. All of these conditions contribute to making South Africa a fertile market for CBD products, and the perfect location for CannaTech’s Cannabis Summit.

The exemption of CBD is a dramatic regulatory change and one that is opening the floodgates for cannabis-derived products to enter the market. Capitalising on the transformational shift in the global cannabis industry, Southern Sky has leveraged international innovation with local execution and expertise to build out fully integrated cannabis cultivation and processing facilities.

Following South Africa’s full legalization of CBD, Southern Sky’s retail arm Goodleaf, opened the country’s first high-end brick and mortar CBD store on May 31 in Cape Town’s beautiful city centre. The flagship store offers a range of premium hemp-derived CBD products including vaporizers, tinctures and topicals from leading international brands. Goodleaf is committed to offering safe, natural, traceable, and legal products of the highest standard: all products are lab tested to ensure maximum safety and to certify that they are 100% THC free. In addition to locally produced brands, Goodleaf also acts as the South African distributor for well known global products such as Cura Select and others. In a press statement last month, Jonni Katz, Head of Brand and Retail for Southern Sky and CEO of Goodleaf stated:

“We’re excited about what Goodleaf brings to the market. The flagship Goodleaf store offers consumers a well-curated and unique experience in an exclusive downtown space. This store will be the first of a number of premium cannabis stores that we intend to open in high-end retail locations across South Africa.”

The storefronts will also serve as venues for educational and social functions, pop-up events, and other gatherings. Goodleaf is more than just a retail store, it is an integral part of Africa’s growing cannabis industry, promoting product excellence, disseminating information, and curating an immersive experience for consumers.

Southern Sky is further expanding the local South African cannabis ecosystem with its recent acquisition of Africanpure, a Cape Town-based company offering high-quality CBD oil products. The online retailer is known for its affiliation with South African Olympic Gold medal swimmer Roland Schoeman, nicknamed “The Rocket” for holding the world record in 50 metres freestyle.

As Platinum Sponsors of CannaTech Cape Town 2019, Southern Sky is excited to contribute to the positive growth of sub-Saharan Africa’s emerging cannabis ecosystem, while positioning South Africa at the centre of the global cannabis conversation.

 

SOURCE CannaTech

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Small Business Lending, Merchant Cash Advance & Fintech Conference Comes to Canada

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deBanked CONNECT is coming to Canada next week on July 25, 2019. The half-day event is geared towards the burgeoning small business lending, merchant cash advance, and fintech industries.

Executives from all over Canada have registered to attend and the agenda features an all-star lineup of speakers including tech titan and Clearbanc co-founder Michele Romanow. The topics range from sales to marketing to risk to compliance and more.

Kevin Clark, President of Toronto-based Lendified, will be presenting on behalf of the Canadian Lenders Association.

deBanked CONNECT founder Sean Murray said, “Canada’s fintech industry has been on an upward trajectory for a long time. This is the perfect opportunity to learn more about what’s happening on the business finance side, get inspired, network, and leave with some valuable takeaways to grow.”

Previous deBanked CONNECT events have taken place in Miami and San Diego. The company also produces Broker Fair, the annual conference in New York City for commercial finance brokers. Every previous deBanked affiliated event has sold out, so don’t wait until it’s too late to register.

 

SOURCE Foinse, LLC

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Cyborgs and Transpecies – Fireside Chat with Catalan cyborg artist, Manel Muñoz at TCE2019 Prague

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PICANTE TECH Conference Europe gives you the unique opportunity to meet a real-life cyborg this September in Prague.

 

The term ‘cyborg’ is defined as ‘a person whose physical abilities are extended beyond normal human limitations’. If you think that this is still just science fiction or comic books, you must be living in a cave or never conducted any serious research about.

The technology behind it might seem as if it’s from another world, but these tweaks and additions to the human body could be regarded as another way of looking at human evolution. Even though they may not feel like a natural addition to the human body, the intelligence needed to create the tech is a credit to the intellectual evolution of modern man.

Just recently, Elon Musk revealed first details of an electronic brain implant developed by Neuralink, the secretive company he founded back in 2016 to facilitate direct communications between people and machines. Neuralink is part of the crowded and fast-expanding field of companies that are engaged in neurotechnology. The neurotechnology industry consists of hundreds of companies and academic labs which are developing different types of interface between brains and computers for medical and recreational purposes. However, the only one flaunting “symbiosis with AI” as a business goal is the above mentioned Neuralink.

During the inaugural PICANTE TECH Conference Europe (TCE2019), which will take place in Prague on the 3rd of September at Vienna House Andel’s Prague, you have the unique opportunity to meet Manel Muñoz, real life cyborg and hear what the technology can bring in order to shape superhumans.

REGISTER HERE or BROWSE THE AGENDA/PROGRAM!

The master of ceremonies for the Fireside Chat will be Konrad Gill (Founder and Creative Director of ViARsys)

Manel Muñoz (Barcelona,1996) is a Catalan perceptual artist based in Barcelona, best known for developing and installing a cybernetic sensory organ to perceive changes in atmospheric pressure in his body. The barometric organ allows him to perceive the arrival of cyclones and anticyclones via beat frequencies transmitted through the skull. Depending on the input perceived, he can predict weather changes as well as feel at what altitude he is in.

Muñoz studied contemporary photography in Barcelona and became ‘s artist in residence in 2016. In 2017, he co-founded the Transpecies Society, an association that gives voice to people who do not identify as being 100% human and raises awareness on the issues they face. The association, based in Barcelona, offers workshops specialized in the design and creation of new sensory organs.

Muñoz has shared his experience as a cyborg artist by performing and speaking in conferences and festivals in Germany, UK, Romania, Spain, and The Netherlands among others.

PICANTE Tech Conference Europe is designed to bring both people and knowledge together and provides the excellent ecosystem of networking and learning opportunities without interruptions with emphasis on comfort and communication. After learning from genuine world-class experts and wayseers, meeting achievers shaping the B2B ecosystem, all attendees will get the chance to grab a drink and relax while networking at the evening social gathering.

REGISTER HERE or BROWSE THE AGENDA/PROGRAM!

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