Cloud DX Announces Proposed $2.8 Million Private Placement

Cloud DX Inc., a leading health technology company, has unveiled a non-brokered private placement aiming to gather up to $2.8 million. This financial endeavor involves issuing up to 23,333,334 units at $0.12 each, with the opportunity for over-subscription by up to $500,000. Each unit comprises one common share and a transferable warrant, allowing the purchase of an additional share at $0.18 for up to 36 months after closing.

This financial strategy aligns with the company's plan to enhance its working capital, facilitating its continued growth and development. The private placement is contingent on the approval of the TSX Venture Exchange and will adhere to a mandatory hold period as per securities legislation. The participation of insiders is anticipated but has yet to be quantified.

This announcement follows a recent agreement by investors to convert a significant debt into common shares of the company, demonstrating confidence in Cloud DX's potential and financial health. The initiative underlines Cloud DX's commitment to advancing digital healthcare solutions through its innovative Connected Health™ platform, further establishing its footprint in the healthcare technology sector.