CloudMD Receives Court Approval of Proposed Transaction with CPS Capital
04 July 2024 - 5:04AM
CloudMD Software & Services Inc. (TSXV: DOC, Frankfurt: 6PH)
(the “
Company” or “
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”).
Subject to obtaining all required approvals and
the satisfaction or waiver of all required conditions, the
Arrangement is expected to close on or 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 in the Company’s management information circular dated May
29, 2024, which is filed on SEDAR+ at www.sedarplus.ca.
About
CloudMD
CloudMD is an innovative North American
healthcare service provider focused on empowering healthier living
by combining leading edge technology with an exceptional national
network of healthcare professionals. Every day, our employees and
health care providers live 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 leader in workplace absence management through
data-driven prevention, intervention and return to work
programs.
In 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 Executive Officer
FOR ADDITIONAL INFORMATION,
CONTACT:
Investor RelationsInvestors@cloudmd.ca1-647-484-1405
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.
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 in nature may constitute
forward‐looking statements. In some cases, forward‐looking
statements may be identified by the use of terms such as
“forecast”, “projected”, “assumption” and other similar expressions
or future or conditional terms such as “anticipate”, “believe”,
“could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”,
“project”, “will”, “would”, and “should”. Forward-looking
statements contained in this news release are based on certain
factors and assumptions made by management of CloudMD based on
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
on information currently available to them, they may prove to be
incorrect. Such forward‐looking statements are not guarantees of
future events or performance and by their nature involve known and
unknown risks, uncertainties and other factors, including those
risks described in the Company’s MD&A (which is filed under the
Company’s issuer profile on SEDAR+ and can be accessed at
www.sedarplus.ca), that may cause the actual results, performance
or achievements to be materially different from any future results,
performance or achievements expressed or implied by such
forward‐looking statements. Although CloudMD has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward‐looking statements, other factors may cause actions, events
or results to be different than anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate as actual results and future events could vary or differ
materially from those anticipated in such forward‐looking
statements. Accordingly, readers should not place undue reliance on
forward‐looking information. CloudMD does not undertake to update
any forward-looking information, whether as a result of new
information or future events or otherwise, except as may be
required by applicable securities laws.
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