CloudMD Strengthens Board with Appointment of Gaston Tano as Director

 
CloudMD

VANCOUVER, British Columbia, May 02, 2022 — CloudMD Software & Services Inc. (TSXV:DOC)(OTCQB:DOCRF) (“CloudMD” or the “Company”), a healthcare technology and innovative health services company transforming the delivery of care, is pleased to announce that Mr. Gaston Tano has been appointed to its Board of Directors, adding significant finance and audit depth.

Mr. Tano is a senior finance executive with over 30 years of diverse industry experience in multiple global public companies. Since 2017, Mr. Tano has served as Senior Vice President and CFO of Shawcor Ltd., a global material sciences company serving the Infrastructure, Energy, and Transportation markets, which generated over $1Bn in revenue in 2021. Previously, Mr. Tano held the Senior VP and CFO position at Spin Master Ltd. (2011 to 2015) and at CCL Industries Inc. (2008 to 2011). In addition, he held several senior finance positions at Bacardi Ltd. (1995 to 2008). Mr. Tano is a Canadian Chartered Professional Accountant (CPA, CA) and a U.S. Certified Public Accountant (CPA, Illinois). He also holds an Institute of Corporate Directors designation (ICD.D) from Rotman School of Business, University of Toronto.

Karen Adams, Interim CEO of CloudMD Software & Services Inc. (TSXV:DOC)(OTCQB:DOCRF) commented, “We are thrilled to add Gaston to our Board of Directors as his finance expertise with globally recognized companies will add significant value to our financial and audit governance. Gaston brings over 30 years’ experience in executive finance roles and we are grateful that he has decided to join our board and support the Company through its growth.” She continued, “CloudMD Software & Services Inc. (TSXV:DOC)(OTCQB:DOCRF) has positioned itself as an industry-leading provider of comprehensive, employer healthcare and as we continue to grow, corporate governance has become a strong priority for the Company. We will continue to lean on our Board to adhere to exceptional governance, accountability, and transparency in our operations.”

“I am excited to join the Board of CloudMD Software & Services Inc. (TSXV:DOC)(OTCQB:DOCRF) and support the Company as they continue to drive innovation and disrupt the healthcare industry,” commented Gaston Tano. “I believe my extensive senior financial expertise will help guide the Company on their path back to profitable financial sustainability and through its continued growth.”

As CloudMD Software & Services Inc. (TSXV:DOC)(OTCQB:DOCRF) continues to focus on growth and sustainable profitability, it recognizes the importance for strong leadership at both the management and Board levels. There have been active discussions regarding the importance of the Company having strong governance and financial acumen on the Board has been emphasized. The appointment of Mr. Duncan Hannay to the Board in 2021 was one of the initial steps taken by the Company in executing on such strategy and Mr. Tano’s appointment is the most recent. The Board will continue to evolve and is expected to increase in size, as well as the depth of its skills and strengths, as CloudMD Software & Services Inc. (TSXV:DOC)(OTCQB:DOCRF) continues to grow. As a result, several potential Board members have been identified, all of whom have skill sets that could support the Company through its next phase of development. The Company intends on adding an additional independent director in the near term with additional depth to be added to the Board at the Company’s next shareholder meeting.

About CloudMD Software & Services

CloudMD Software & Services Inc. (TSXV:DOC)(OTCQB:DOCRF) is transforming the delivery of healthcare using technology and by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD Software & Services Inc.’s (TSXV:DOC)(OTCQB:DOCRF) proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, healthcare navigation, educational resources, and artificial intelligence (AI). CloudMD Software & Services Inc.’s (TSXV:DOC)(OTCQB:DOCRF) business is separated into three main divisions: Clinics and Pharmacies, Digital Solution and Enterprise Health Solutions, the Company’s fastest growing division. CloudMD’s Enterprise Health Solutions Division has built a leading employer healthcare solutions, including its Comprehensive Integrated Health Services Platform, which offers one comprehensive, digitally connected platform for educational institutions, corporations, insurers, and advisors to better manage the health and wellness of their students, employees, and customers.

CloudMD Software & Services Inc. (TSXV:DOC)(OTCQB:DOCRF) currently services a direct ecosystem of over 5,700 clinicians including, 1,800+ mental health practitioners, 1,600+ allied health professionals, 1,400+ doctors and nurses and covers 12 million individual lives across North America. For more information visit: https://investors.cloudmd.ca.

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.

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities laws. Forward-looking statements in this news release include, but are not limited to, statements regarding changes to the Board, including increasing the number of directors. These statements are based upon information currently available to CloudMD’s management. All information that is not clearly historical in nature may constitute forward‐looking statements. In some cases, forward‐looking statements may be identified by the use of terms such as “forecast”, “assumption” and other similar expressions or future or conditional terms such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and “should”. Forward-looking statements contained in this news release are based on certain factors and assumptions made by management of CloudMD based on their current expectations, estimates, projections, assumptions and beliefs regarding their business and CloudMD does not provide any assurance that actual results will meet management’s expectations. While management considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. Such forward‐looking statements are not guarantees of future events or performance and by their nature involve known and unknown risks, uncertainties and other factors, including those risks described in the Company’s MD&A and most recent Annual Information Form (which are filed under the Company’s issuer profile on SEDAR and can be accessed at www.sedar.com), that may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking statements. Although CloudMD has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward‐looking statements, other factors may cause actions, events or results to be different than anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such forward‐looking statements. Accordingly, readers should not place undue reliance on forward‐looking information. CloudMD does not undertake to update any forward-looking information, whether as a result of new information or future events or otherwise, except as may be required by applicable securities laws.

SOURCE CloudMD Software & Services Inc. (TSXV:DOC)(OTCQB:DOCRF)

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding CloudMD Software & Services Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to CloudMD Software & Services Inc.’s industry; (b) market opportunity; (c) CloudMD Software & Services Inc.’s business plans and strategies; (d) services that CloudMD Software & Services Inc. intends to offer; (e) CloudMD Software & Services Inc.’s milestone projections and targets; (f) CloudMD Software & Services Inc.’s expectations regarding receipt of approval for regulatory applications; (g) CloudMD Software & Services Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) CloudMD Software & Services Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute CloudMD Software & Services Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) CloudMD Software & Services Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) CloudMD Software & Services Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) CloudMD Software & Services Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of CloudMD Software & Services Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) CloudMD Software & Services Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact CloudMD Software & Services Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing CloudMD Software & Services Inc.’s business operations (e) CloudMD Software & Services Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, CloudMD Software & Services Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does CloudMD Software & Services Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither CloudMD Software & Services Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of CloudMD Software & Services Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of CloudMD Software & Services Inc. or such entities and are not necessarily indicative of future performance of CloudMD Software & Services Inc. or such entities.