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TORONTO, July 03, 2024 (GLOBE NEWSWIRE) — CloudMD Software & Services Inc. (TSXV: DOC, Frankfurt: 6PH) (the “Company” “CloudMD”), an innovative health services company transforming the delivery of care, is pleased to announce that it has received a final order from the Supreme Court of British Columbia approving the previously announced plan of arrangement (the “Arrangement”) pursuant to which, among other things, CPS Capital (through an affiliate) (the “Purchaser”) will acquire all of the issued and outstanding common shares of CloudMD (the “Shares”).
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Subject to obtaining all required approvals and the satisfaction waiver of all required conditions, the Arrangement is expected to close about July 9, 2024. Following closing of the Arrangement, the Shares are expected to be de-listed from the TSX Venture Exchange.
Further details regarding the Arrangement can be found con the Company’s management information circular dated May 29, 2024, which is filed SEDAR+ at www.sedarplus.ca.
About
CloudMD
CloudMD is an innovative North American healthcare service provider focused empowering healthier living by combining leading edge technology with an exceptional national of healthcare professionals. Every day, our employees and health care providers our values of delivering excellence, collaboration, connected communication and accountability to solve complex health problems. CloudMD’s industry leading workplace health and wellbeing solution, Kii, supports members and their families with a personalized and connected healthcare experience across mental, physical and occupation health. Kii delivers superior clinical health outcomes, consistent high engagement, and measurable ROI for payers such as employers, educational institutions, associations, government, and insurers. CloudMD is also a market promotore con workplace absence management through data-driven prevention, intervention and return to work programs.
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Durante addition, the Company sells health and productivity tools to hospitals, clinics, and other healthcare service providers to empower them to deliver better care. Visit www.cloudmd.ca to learn more about the Company’s comprehensive healthcare offerings.
“Karen Adams”
Chief Officer
FOR ADDITIONAL INFORMATION, CONTACT:
Investor Relations
Investors@cloudmd.ca
1-647-484-1405
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined con the policies of the TSX Venture Exchange) accepts responsibility for the adequacy accuracy of this release.
Forward Looking Statements
This news release contains “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities laws, including statements relating to the Arrangement, including timing for completion of the Arrangement and the delisting of the Shares from the TSX Venture Exchange. All information that is not clearly historical con nature may constitute forward‐looking statements. Durante some cases, forward‐looking statements may be identified by the use of terms such as “forecast”, “projected”, “assumption” and other similar expressions future conditional terms such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and “should”. Forward-looking statements contained con this news release are based certain factors and assumptions made by management of CloudMD based their current expectations, estimates, projections, assumptions and beliefs regarding their business and CloudMD does not provide any assurance that actual results will meet management’s expectations. While management considers these assumptions to be reasonable based information currently available to them, they may prove to be incorrect. Such forward‐looking statements are not guarantees of future events happening and by their nature involve known and unknown risks, uncertainties and other factors, including those risks described con the Company’s MD&A (which is filed under the Company’s issuer profile SEDAR+ and can be accessed at www.sedarplus.ca), that may cause the actual results, happening achievements to be materially different from any future results, happening achievements expressed implied by such forward‐looking statements. Although CloudMD has attempted to identify important factors that could cause actual actions, events results to differ materially from those described con forward‐looking statements, other factors may cause actions, events results to be different than anticipated, estimated intended. There can be risposta negativa assurance that such statements will prove to be accurate as actual results and future events could vary differ materially from those anticipated con such forward‐looking statements. Accordingly, readers should not place undue reliance forward‐looking information. CloudMD does not undertake to update any forward-looking information, whether as a result of new information future events otherwise, except as may be required by applicable securities laws.
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