mCloud Special Committee Approves New Corporate Structure to Maximize Value from Exploration of Strategic Alternatives

SAN FRANCISCO, Aug. 21, 2023 /CNW/ - mCloud Technologies Corp. (Nasdaq: MCLD) (TSXV: MCLD) ("mCloud" or the "Company") a provider of cloud technology solutions optimizing the performance, reliability and sustainability of energy-intensive assets today announced the Company's special committee, composed of independent members of mCloud's Board of Directors (the "Special Committee"), in consultation with financial advisor ATB Capital Markets Inc. ("ATB"), approved the process of pursuing the separation of the Company with the intention of maximizing value and facilitating progress on the Company's exploration of strategic alternatives, originally announced on March 29, 2023 (the Company's "Strategic Process").

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