Universal mCloud Announces Abe Shasha as President of AssetCare™ Connect

Over 20 Years of Executive Sales experience with Leaders in Industrial Enterprise Software

VANCOUVER, April 12, 2018 /CNW/ - Universal mCloud Corp. (TSX-V: MCLD) ("mCloud" or the "Company"), a leading provider of Artificial Intelligence and Analytics ("AI&A") and IoT-connected asset care technology, today announced that Abe Shasha will be assuming the position of President, AssetCare^TM Connect effective immediately.  Mr. Shasha will be responsible for all embedded IoT partnerships including TELUS, and recently announced Cypress Envirosystems Inc., as well as all IoT financing initiatives.  AssetCare^TM Connect represents mCloud's largest growth initiative in North America with numerous corporate clients having assets connected to mCloud's real-time data platform. Mr. Shasha was previously a team leader at the Honeywell Advanced Software Group, an executive at Aspen Technologies (NASDAQ : AZPN), a leader in Advanced Industrial Software and more recently was a key member of Industrial Knowledge, now an operating business unit of Yokogawa Electric.

"AssetCare^TM Connect represents the alignment of all the key initiatives we have been working hard to build and launch since going public in Canada in late 2017," said Russel McMeekin, President and CEO of mCloud.  "Abe brings over two decades of proven and disciplined experience in the complex industrial energy asset software market.  We are very fortunate to have him join our team."

"I am excited to be joining mCloud and I look forward to leading all AssetCare^TM Connect initiatives.   We will be working very closely with each of our IoT partners to ensure all connected assets are performing optimally," said Mr. Shasha.

The Board of Directors has approved the grant of 2.1 million shares of stock in accordance with the Company's Equity Incentive Plan to Russ McMeekin, Michael A. Sicuro and Tino Lanza, in recognition of their accomplishment in pulling together the critical components required to take the Company public on TSX Venture Exchange, and for executing on the growth strategy by successfully closing a number of strategic acquisitions in 2017 and 2018.  Included above are shares granted to John Pitfield as part of his compensation arrangement with the Company as a new Director.  The shares granted will vest over three years.

About Universal mCloud Corp.
mCloud is headquartered in Vancouver, BC with technology and operations centers in San Francisco, CA and Bristol, PA. mCloud is an IoT connected asset care cloud solution company utilizing connected IoT devices, leading deep energy analytics, secure mobile and 3D technologies that rally all asset stakeholders around an Asset-Circle-of-Care™, providing complete real-time and historical data coupled with guidance and advice based on deep analytics and diagnostics resulting in optimal performance and care of critical equipment. It's all about the asset. The powerful and secure AssetCare™ environment is accessible everywhere, 24/7 through standard mobile devices, ruggedized headsets, and web browsers. For more information, visit www.mCloudCorp.com.

Forward-Looking Information and Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information contained herein may include, but is not limited to, information concerning the Company's ability to save customer budget costs, the ability to roll out the damage assessment technology in a timely manner, the ability to expand the asset base of the Company, the future business prospects and the potential revenue of the Company.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements.

An investment in securities of the Company is speculative and subject to a number of risks including, without limitation, the risks discussed under the heading "Risk Factors" on pages 29 to 46 of the Company's filing statement dated October 5, 2017. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Universal-mCloud Corp