CloudMD Announces Closing of $13 Million Oversubscribed Bought Deal Financing
Summary
TORONTO, June 02, 2020 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (CSE: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a telemedicine company seeking to revolutionize the delivery of healthcare to patients, is pleased to announce that it has closed its previously announced short form prospectus offering, on a bought deal basis, including the full exercise of the underwriters’ over-allotment option. Essam Hamza, CEO of CloudMD commented, “Closing this financing is a very important inflection point for the Company and we thank our syndicate for their diligent efforts and welcome our new shareholders. We are excited to further execute on our growth strategy and this injection of capital will accelerate our M&A efforts.” CloudMD intends to use the proceeds of the Offering for strategic M&A activities and general corporate purposes. CloudMD is digitizing the delivery of healthcare by providing patients access to all points of their care from their phone, tablet or desktop computer. These forward-looking statements speak only as of the date on which they are made, and CloudMD undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.