Universal mCloud Changes Its Name to mCloud Technologies


Asset management solutions provider mCloud Technologies Corp. (TSXV:MCLD) (OTCQB:MCLDF) announced Tuesday that it has changed its name to mCloud Technologies Corp. and will continue trading on the TSX Venture under the ticker symbol MCLD.

The CUSIP number assigned to the company’s common shares is 582270104, while the CUSIP number assigned to the company’s warrants expiring on December 6, 2020, is 582270112 (ISIN CA5822701127). The CUSIP number assigned to the company’s warrants expiring on March 19, 2021, is 582270120 (ISIN CA5822701200).

According to the press release, common shares and warrants will be automatically adjusted as a result of mCloud’s name change, and no further action is required by the holders. What’s more, there is no change in the capitalization structure of the company.

mCloud’s Upcoming Q3 2019 Financial Results

mCloud’s name change comes roughly two weeks before its third-quarter 2019 financial results conference call, which is scheduled for November 14, 2019. If mCloud’s second-quarter 2019 results are any indication of what’s to come, investors will definitely want to tune in.

In the second quarter, mCloud Technologies reported $3 million CAD in revenue, which was 36% higher than the previous quarter and 443% more than Q2 2018. The company also achieved several major milestones during the last quarter.

From closing a six-year agreement with TELUS Commercial Real Estate to gaining a stronger foothold in the oil and gas sector through the acquisition of Fulcrum and Autopro, mCloud had a very successful second quarter.

Enter Your E-mail Address To Subscribe

* indicates required

The company also made significant changes to its team to help advance its strategy to drive organic growth through new multi-year, recurring, commercial Software-as-a-Service contracts, including those in the oil and gas, petrochemical, and pipeline industries.

>> NAVB Stock Soars 55% on Impressive Data for NAV3-31

mCloud Continues to Impress

The company has continued to stay busy throughout Q3, repaying a $2 million USD loan, receiving $13 million CAD in secured debt financing, and launching its newest AssetCare solution in October. mCloud’s new solution, the “3D Digitial Twin,” uses high-precision 3D laser scanners to create digital replicas of facilities.

The company expects the rollout of the 3D Digitial Twin to be quick and has already begun onboarding its first 3D Digital Twin customer in Alberta.

mCloud is also on track to meet its ambitious goal of having over 40,000 assets connected by the end of 2019, which will include assets from all of its business segments: wind, oil and gas, and smart buildings.

In short, MCLD has been working hard to expand its presence across these sectors and has, so far, been quite successful in its endeavors.

The company is also in the process of uplisting to the NASDAQ and graduating from the TSX Venture Exchange to the Toronto Stock Exchange.

MCLD’s share price reacted favorably to the news Tuesday, increasing by 4.65% on the TSXV to $0.45 CAD. The stock also went up on the OTC by 4.31% to $0.35 USD. Since the beginning of 2019, mCloud’s share price is up 50% on the TSXV and has increased by 59.09% on the OTC.

As mentioned, investors who are interested in mCloud Technologies may want to tune into its Q3 2019 financial results conference call in a couple of weeks, which will likely include some wins.

>> Read More Tech News

Featured Image: mCloud

Please See Disclaimer

If You Liked This Article Click To Share


1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on my research and understanding of the sector.

2) The Article was issued on behalf of a third party, Universal mCloud Corp. by their agency of record, Native Ads Inc. Market Jar Media Inc. has or expects to receive the following amounts from Native Ads Inc. in the CAD amount of one hundred twenty-five thousand, eight hundred eighty-five dollars for 19 campaign days (13 business days). In addition, Market Jar was re-engaged by Native Ads for a period of 33 campaign days (23 business days) in the amount of eighty-eight thousand eight hundred and fifty-seven dollars and fifty cents. Additionally, Market Jar was re-engaged by Native Ads for a period of 2 campaign days (2 business days) in the CAD amount of forty five thousand seven hundred and twenty dollars.

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on Microsmallcap.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on Microsmallcap.com.

5) Except for stock options issued to Market Jar Media Inc., Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.