VANCOUVER, April 24, 2019 - 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, announces the signing today of a letter of intent to acquire Fulcrum Automation Technologies (“Fulcrum”). In parallel, Fulcrum has today entered into a letter of intent to acquire Autopro Automation Consultants Ltd. (“Autopro”), resulting in a three-party transaction that will make mCloud a major technology provider in oil and gas (the “Transaction”). The Transaction is considered an at arm’s length fundamental acquisition.
