CloudMD Announces Late Filing of Annual Financial Statements

TORONTO, April 29, 2024 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQX: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), an innovative health services company transforming the delivery of care, announced today that it is unable to file its audited consolidated annual financial statements and accompanying management’s discussion and analysis for the fourth quarter and year ended December 31, 2023 (the “Annual Financial Filings”) by the filing deadline of April 29, 2024.

An independent committee of the board of directors of the Company has been engaged with management of the Company in a strategic and liquidity review, with the assistance of INFOR Financial Inc. This has resulted in a delay in the completion of the Annual Financial Filings.

Given the circumstances, the Company has requested that trading in its shares on the TSX Venture Exchange be halted as it expects the Ontario Securities Commission will issue a cease trade order. The cease trade order would affect trading in all securities of the Company and would remain in effect until it is revoked following filing of the Annual Financial Filings.

The Company will not be commenting or providing additional information at this time and will provide further disclosure when required via press release.

About CloudMD Software & Services

CloudMD is an innovative North American healthcare service provider focused on empowering healthier living by combining leading edge technology with an exceptional national network of healthcare professionals. Every day, our employees and health care providers live our values of delivering excellence, collaboration, connected communication and accountability to solve complex health problems. CloudMD’ s industry leading workplace health and wellbeing solution, Kii, supports members and their families with a personalized and connected healthcare experience across mental, physical and occupation health. Kii delivers superior clinical health outcomes, consistent high engagement, and measurable ROI for payers such as employers, educational institutions, associations, government, and insurers. CloudMD is also a market leader in workplace absence management through data-driven prevention, intervention and return to work programs.