Universal mCloud Adds Ian Russell, President and CEO of the Investment Industry Association of Canada (IIAC), as Independent Board Member and Prelude to NASDAQ and TSX Up-Lists

VANCOUVER, Sept. 3, 2019 /CNW/ - Universal mCloud Corp. (TSX-V: MCLD) (OTCQB: MCLDF) ("mCloud" or the "Company"), a leading provider of asset management solutions combining IoT, cloud computing, artificial intelligence ("AI") and analytics, today announced that Ian Russell, President and CEO of the Investment Industry Association of Canada ("IIAC"), will be joining the Company's Board of Directors as Independent Director, effective immediately. Mr. Russell will serve on all of the Company's independent committees and will actively work alongside Michael A. Sicuro, Non-Executive Chair, to prepare mCloud for listing on the NASDAQ stock exchange, originally announced on October 16, 2018.

"We are privileged to have Mr. Russell join mCloud's Board of Directors," said Michael A. Sicuro, mCloud's Non-Executive Chair. "As one of Canada's most prominent figures in the investment industry, Mr. Russell brings extensive experience in the global capital markets that will accelerate the Company's expansion into new geographies and propel organic growth across all lines of business."

Mr. Russell is a sought-after presenter, speaker and frequent media commentator on issues related to the global investment industry. For over 20 years, he has engaged with regulators and industry trade groups all over the world, including the International Organization of Securities Commissions (IOSCO), the Financial Stability Board (FSB), the European Securities and Markets Authority (ESMA), the Japan Securities Dealers Association (JSDA), the Securities and Futures Commission (SFC) in Hong Kong, the U.S. Securities and Exchange Commission (SEC), the Japan Securities Dealers Association (JSDA), and the U.S. Securities Industry and Financial Markets Association (SIFMA).

While in his role at the Investment Dealers Association of Canada (IDA), and current role as President and CEO at the IIAC, Mr. Russell has worked with and amongst various global equity markets, including the TMX Group, New York Stock Exchange (NYSE), NASDAQ, and the London Stock Exchange Group. He served as Chairman of the International Council of Securities Associations (ICSA) from 2014 to 2017, a role that enabled him to promote and raise awareness of Canada's securities industry and international capital markets.

Mr. Russell has an Honours degree in Economics and Business from the University of Western Ontario and a postgraduate degree in Economics from the London School of Economics and Political Science. He has completed the Partners, Directors, and Senior Officers Qualifying Examination, and is a Fellow of the Canadian Securities Institute.

In addition to Mr. Russell joining mCloud's Board of Directors, the Company announced today that it has begun the process of graduating from the TSX Venture Exchange ("TSX-V") to the Toronto Stock Exchange ("TSX").

About Universal mCloud Corp.

Universal mCloud is creating a more efficient future with the use of AI and analytics, curbing energy waste, maximizing energy production, and getting the most out of critical energy infrastructure. Through mCloud's AI-powered AssetCare™ platform, mCloud offers complete asset management solutions to three distinct segments: smart facilities, power generation, and process industries including oil and gas. IoT sensors bring data from connected assets into the cloud, where AI and analytics are applied to maximize their performance. Headquartered in Vancouver, Canada with offices in locations worldwide including Calgary, San Francisco, and Beijing, the mCloud family includes an ecosystem of operating subsidiaries that deliver high-performance IoT, AI, 3D, and mobile capabilities to customers, all integrated into AssetCare. With over 100 blue-chip customers and more than 35,000 assets connected in thousands of locations worldwide, mCloud is changing the way energy assets are managed. For more information, visit www.mcloudcorp.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Universal mCloud Corp.

Craig MacPhail, NATIONAL Capital Markets, T: 416-586-1938, [email protected]; Chantal Schutz, Chief Financial Officer, Universal mCloud Corp., T: 604-669-9973