CloudMD Appoints Dr. Sohal Goyal as Head of Corporate Development in Ontario - Seite 2

Dr. Essam Hamza, CEO of CloudMD commented, “We are thrilled to welcome Dr. Goyal as Head of Corporate Development in Ontario. His expertise, and network of healthcare relationships will be extremely valuable for us as we continue our rapid expansion in Ontario and across North America. Our goal is to provide a strong, centralized patient base and footprint across the country, and having Dr. Goyal deeply-rooted in the Ontario Healthcare sector will greatly help us in achieving our goal. Dr. Goyal’s integrated, patient-centric approach to delivering healthcare aligns well with CloudMD’s strategy and we look forward to working together moving forward.”

Pursuant to the policies of the TSX Venture Exchange and the terms of the contractor services agreement (the “Agreement”) with Dr. Goyal, the Company will issue $500,000 in common shares of the Company to Dr. Goyal which equates to 699,301 common shares (the “Shares”). The Shares issued are subject to escrow over a 2-year period and will be released on a quarterly basis. The deemed price of the Shares is $0.715, which was calculated by using the volume weighted average closing share price on the last 10 trading days prior to the date of the Agreement. 

All securities issued pursuant to the Agreement remain subject to the approval by the TSX Venture Exchange.

About CloudMD Software & Services

CloudMD is digitizing the delivery of healthcare by providing patients access to all points of their care from their phone, tablet or desktop computer. The Company offers SAAS based health technology solutions to medical clinics across Canada and has developed proprietary technology that delivers quality healthcare through the combination of connected primary care clinics, telemedicine, and artificial intelligence (AI). CloudMD currently provides service to a combined ecosystem of 376 clinics, over 3000 licensed practitioners and almost 3 million patient charts across its servers.

ON BEHALF OF THE BOARD OF DIRECTORS

“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:

CloudMD Software & Services Inc.
investors.cloudmd.ca
Email: [e-mail]

Forward Looking Statements

This news release contains forward-looking statements that are based on CloudMD’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to its business plans and its intended use of the proceeds of the Offering. Although CloudMD believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and CloudMD undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.