Universal mCloud Announces Appointment of Chantal Schutz as Executive Vice President and Chief Financial Officer

VANCOUVER, May 27, 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 the appointment of Chantal Schutz to Executive Vice President and Chief Financial Officer, effective upon the upcoming filing of the Company's annual financial statements.  Ms. Schutz will report to Russ McMeekin, President and Chief Executive Officer.

Ms. Schutz, a Chartered Professional Accountant, brings over 20 years of financial and operating experience to the Company. Having held leadership roles in both private and publicly traded companies of varying sizes and sectors, she has deep expertise in strategic planning, financial reporting and corporate development.  Ms. Schutz began her career articling for both KPMG and PwC, and most recently held the role of Chief Executive Officer at Vancouver-based NYCE Sensors. She currently sits on the board of Clean Seed Capital Group (CSX.V) and NYCE Sensors.

"We are thrilled to strengthen our executive leadership team with the appointment of Ms. Schutz," said Russ McMeekin, CEO and President of mCloud. "Ms. Schutz' track record of successfully leading the financial operations of fast-growing tech companies will be invaluable to our business as we continue to execute on our growth strategy in realizing our goal of industry leadership."  

mCloud Conference Call

mCloud will host a conference call at 5:30 p.m. ET on Thursday, May 30, 2019 to discuss its financial results for the first quarter of 2019 and a recap of fiscal 2018. The conference call will include prepared remarks from Russ McMeekin, Chief Executive Officer, and Chantal Schutz, newly appointed Chief Financial Officer. After the prepared remarks, the Company will accept questions. The Company will release its financial results for the first quarter on the same day after the close of markets.

To access the conference call by telephone, dial 647-427-7450 or 1-888-231-8191. Please connect approximately 10 minutes prior to the beginning of the call to ensure participation. The conference call will be archived for replay by telephone until Thursday, June 6, 2019 at midnight (ET). To access the archived conference call, dial 1-855-859-2056 and enter the reservation number 2951049.

A live audio webcast of the conference call will be available at https://bit.ly/2HBh9gw. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast.  The webcast will be archived at the above website for one year.

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. Headquartered in Vancouver, Canada, with technology and operations centers in San Francisco, CA, and Bristol, PA, mCloud takes advantage of IoT sensors to bring data from connected assets into the cloud, applying AI and analytics to maximize their health and performance. Today, mCloud offers complete asset management solutions to four distinct segments: smart buildings, wind energy, utilities, and oil and gas. With over 100 blue chip customers and more than 28,000 assets connected in thousands of locations worldwide, mCloud is changing the way energy assets are managed. For more information, visit www.mcloudcorp.com.

Forward-Looking Information and Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information contained herein may include, but is not limited to, the completion of the Transaction, the future business prospects of the Company and the potential revenue of the Company.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements.

An investment in securities of the Company is speculative and subject to several risks as discussed under the heading "Risk Factors" on pages 29 to 46 of the Company's filing statement dated October 5, 2017. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

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]; Russ McMeekin, Chief Executive Officer, Universal mCloud Corp., T: 415-635-3500