mCloud Technologies Corp V.MCLD.H

mCloud and Carbon Royalty Corp Sign 20-Year Agreement

[Betteryear2]

• On the back of first auto dealership recently announced on March 21, mCloud swiftly moving to contract with additional auto dealerships in New York and California
• Agreement enables AssetCare implementation, splitting tax incentives, carbon credits, and other green energy infrastructure charging benefits equally between mCloud and Carbon Royalty Corp over expected 20-year length of AssetCare contracts with auto dealerships
• Plans to use this approach to scale beyond 500 auto dealerships by end of 2023

SAN FRANCISCO, March 30, 2022 /PRNewswire/ - mCloud Technologies Corp. (Nasdaq: MCLD) (TSX-V: MCLD), ("mCloud" or the "Company") a leading provider of AI-powered asset management and Environmental, Social, and Governance ("ESG") solutions today announced it had signed an agreement on March 28, 2022 with Carbon Royalty Corp to proceed with closing and funding the first 30 AssetCare solutions to optimize Electric Vehicle ("EV") charging efficiency at auto dealerships in the states of New York and California.

[gossamer9]

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[Possibleidiot01]

It seems like they cancelled the conference call for last night because of this and the Middle Eastern contract ; rescheduling for a later date. Very clumsy news release that does not actual say it was cancelled.

[lscfa]

NR is misleading. Scumbag mgmt made it seem that co. was getting $15 million US funding in exchange for simply sharing carbon credits, tax incentives, etc. but the $15 million is a 3 year loan at 10%.    The initial principal amount under the Note of US$5,000,000 was funded on April 1, 2022 and an additional US$10,000,000 was funded on May 5, 2022 (the “Loans”). The Loans mature on

[lscfa]

Fire the CFO. These financing deals are incompetent.   

[angeloet]

My thoughts exactly. This company has more debt than the actual market cap ! Talk about ridiculous... and how does a company keep dropping revenue when they keep giving us this slew of contracts on the horizon. I really don't understand this company, or what is going on...   MCloud going bankrupt man !!! Just string investors along for the slow ride down...