Universal mCloud to Host Third Quarter 2019 Financial Results Conference Call on November 14, 2019

VANCOUVER, Oct. 24, 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 it will report its earnings for the third quarter 2019 before the market opens on Thursday, November 14, 2019. The Company will also host a conference call to discuss the financial results for the third quarter at 5:30 p.m. ET the same day.

The conference call will include prepared remarks from Russ McMeekin, Chief Executive Officer, and Chantal Schutz, Chief Financial Officer. After the prepared remarks, the Company will accept questions.

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, November 21, 2019 at midnight (ET). To access the archived conference call, dial 1-855-859-2056 and enter the reservation number 4472726.

A live audio webcast of the conference call will be available at https://bit.ly/3249cbx. 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.

mCloud on Business Television ("BTV")

mCloud recently appeared on BTV, which airs nationally on BNN Bloomberg in Canada, the Biz Television Network in the United States, and on the Business Channel on flights with Air Canada. The Company was featured on BTV to share the impact AssetCare™ has had for Environmental, Social, and Governance ("ESG") purposes across all its lines of business. The episode will be viewable on Air Canada flights and is also available on the Web: https://www.b-tv.com/universal-mcloud-ai-energy-efficiencies-feature-ep344/

Resolutions from Board of Directors Compensation Committee

mCloud has granted in the aggregate 1,375,000 restricted stock unit awards of the Company and 1,675,000 options to acquire common shares of the Company ("Options") to certain directors and officers of the Company, several of whom have reached their two year anniversary since listing, being Chantal Schutz, Ian Russell, Elizabeth Maclean, Russel McMeekin and Costantino Lanza. The Options carry exercise prices ranging from $0.39 to $0.425 and expire on average 5.55 years following the date of issuance.

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