CloudMD Expands Virtual Mental Health Services Through Acquisition of Aspiria Corp., a Healthcare Provider Focused on Delivering Employee (EAP) and Student (SAP) Assistance Programs - Seite 4

About Aspiria Corp.

Established in 2003, Aspiria Corp. is a 100% Canadian-owned mental health solution-based company, that provides Employee and Student Assistance Services to over 750 organizations in the employer and education sectors. Servicing over 1 million employees, students, and families, Aspiria is known for its quality services, excellent customer service, and high value it provides to its clients.

ON BEHALF OF THE BOARD OF DIRECTORS

“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:

Julia Becker
VP, Investor Relations
[e-mail] 

Forward Looking Statements

This news release contains forward-looking statements, including statements regarding projected revenue, completion of the Aspiria acquisition, future business synergies and cost savings. Such forward-looking statements are based on CloudMD’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including the expectations regarding closing of the Asipira acquisition and the ability of the Company to carry out its business plans. 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, including revenue projections, 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.

Non-GAAP and Non-IFRS Measures

This press release refers to “EBITDA” and “EBITDA margins” which are non-GAAP and non-IFRS financial measures that do not have a standardized meaning prescribed by GAAP or IFRS. The Company’s presentation of these financial measures may not be comparable to similarly titled measures used by other companies. These financial measures are intended to provide additional information to investors concerning the Company’s and Aspiria’s performance. EBITDA is defined as earnings before interest, taxes, depreciation and amortization and EBITDA margins is defined as EBITDA as a percent of total revenue. EBITDA and EBITDA margins are Non-IFRS measures the Company uses as an indicator of financial health and excludes several items which may be useful in the consideration of the financial condition of the Company and Aspiria, as applicable, including interest expense, income taxes, depreciation, and amortization.

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