Cloud DX Announces Voluntary Extension of Lock-up Agreements with Company Insiders

News in Summary

• Cloud DX insiders (as defined by the TSX Venture Exchange) holding approximately 33% of the issued and outstanding shares of Cloud DX Inc. voluntarily extend the release date under lock-up agreements
• This six-month voluntary extension of their resale restrictions indicates that the board and management are confident about the company's growth prospects

KITCHENER, ON / ACCESSWIRE / January 17, 2022 / Cloud DX Inc. (the "Company" or "Cloud DX") (TSXV:CDX) (OTCQB:CDXFF), announces today that certain company ‘insiders' (as defined by the TSX Venture Exchange) have voluntarily agreed to extend the release dates under the lock-up agreements they entered into in connection with the Company's ‘Qualifying Transaction' which closed on April 15, 2021. Insiders holding approximately 33% of the issued and outstanding shares of the Company have agreed to extend the lock-up to be effective until October 31, 2022.

Lead Director, Mr. Brad Miller, states "Cloud DX has made excellent progress in executing their business plan as articulated at the time of the go-public transaction. In my opinion as an investor, these recent announcements indicate that further growth for the company can be expected:

• $131,000 from NB Health Research Foundation to partners, noted January 13, 2022
• US primary care clinics in Illinois announced January 11, 2022
• Ontario pulmonary rehab clinic announced December 21, 2021
• 2,400 patient Hamilton Health surgical program announced December 15, 2021
• Key Partnership with Medtronic Canada announced December 1, 2021
• US primary care clinics in Indiana announced November 30, 2021"

Board member, Dr. Constantine Zachos, states "Since becoming a public company, Cloud DX has secured key contracts with partners Prizm Media, Medtronic Canada, and Maxwell Telecare that together give the Company access to up to two million qualified patients in Canada and the United States. The team is now working on the next critical metric which is patient enrollment with the expectation of becoming EBITDA+ at around 10,000 enrolled and compliant US patients, a number that seems well within reach in the near-term."