Mcloud announces proposed unsecured loan from strategic investors

San francisco , oct. 26, 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 proposes to enter into arrangements to receive unsecured non-convertible loans from a group of arm's length strategic investors (the "lenders"), pursuant to which mcloud will borrow approximately us$2 million, or such larger amount as may be agreed by the parties (the "loan"). the loan will bear interest of 15% per annum and the maturity date of the loan will be the date that is 8 months following the date that the lenders provide the loan to the company.
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