MCLOUD TECHNOLOGIES CORP. ("MCLD") ("MCLD.WS") BULLETIN TYPE: Prospectus-Unit Offering, New Listing-Warrants BULLETIN DATE: July 7, 2020 TSX Venture Tier 2 Company
Prospectus-Unit Offering
Effective July 6, 2020, the Company's final prospectus supplement dated June 26, 2020 qualifying the distribution of 3,150,686 units of the Company (including the exercise of the over-allotment option), was filed with and accepted by TSX Venture Exchange (the "Exchange") at a price of $3.65 per unit for gross proceeds of $11,500,003.
The Exchange has been advised that the closing of the offering occurred on July 6, 2020.
Offering: 3,150,686 units
Unit Price: $3.65 per unit. Each unit consists of one common share and one half common share purchase warrant, with each warrant being exercisable into one common share at $4.75 until expiry on July 6, 2022.
Underwriter(s): Raymond James Ltd., Eight Capital, Gravitas Securities Inc., Paradigm Capital Inc.
Warrant Exercise Price/Term: $4.75 per share to July 6, 2022.
Underwriter(s) Commission: The underwriters were paid a cash commission of $805,000, equal to 7% of the gross proceeds raised under the offering. .
Over-Allotment Option: The over-allotment was exercised for 410,959 units.
For further details, please refer to the Company's prospectus dated June 26, 2020 and news releases dated June 26, 2020 and July 6, 2020.
New Listing-Warrants
Effective at the opening on Thursday July 9, 2020, the 1,575,343 warrants of the Company will commence trading on TSX Venture Exchange. The Company is classified as a 'technology' company.
Corporate Jurisdiction: British Columbia
Capitalization: 1,575,343 warrants, authorized by a warrant indenture dated July 6, 2020 of which 1,575,343 warrants are issued and outstanding
Transfer Agent: AST Trust Company (Canada) Trading Symbol: MCLD.WT.A CUSIP Number: 582270153
The warrants were issued pursuant to prospectus unit offering pursuant to the Company's prospectus supplement dated June 26, 2020. The 1,575,343 warrants entitle the holder to purchase shares at a price of $4.75 per share and will expire on July 6, 2022. ________________________________________
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