CloudMD Software and Services Inc. (DOCRF)

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CloudMD Closes Divestment of Pharmacies to Neighbourly Pharmacy.

Source
https://finance.yahoo.com/news/cloudmd-closes-divestment-pharmacies-neighbourly-113000775.html

Mon, December 19, 2022 at 12:30 PM

CloudMD Software & Services Inc. (TSXV: DOC, OTCQX: DOCRF, Frankfurt: 6PH), a healthcare technology and innovative health services company transforming the delivery of care, is pleased to announce that it has closed the previously announced
https://investors.cloudmd.ca/investors/news-releases/cloudmd-announces-divestment-of-pharmacies-to-neighbourly-pharmacy
divestiture of its British Columbia based pharmacies to Neighbourly Pharmacy Inc. (TSX:NBLY) for approximately $3.8 million.

The closing of this transaction along with the previously closed sale of primary care clinics
https://investors.cloudmd.ca/investors/news-releases/cloudmd-closes-divestment-of-primary-care-clinics-and-cloud-practice-to-well-health
has generated over $9.0 million in non-dilutive capital.

Karen Adams, CEO, commented,
“Our divestiture strategy provides us with increased flexibility to grow our core business without impacting near term profitability. We have a plan for growth and cost savings in 2023 and we believe with this improved capital position we will be able to execute, reach profitability, and improve organic growth without the need for additional dilutive capital.”

RSU Grant
CloudMD granted 26,667 stock options to acquire 26,667 common shares of the Company to certain officers and directors pursuant to the Company’s stock option plan effective as of market close on November 23, 2022, at an exercise price equal to the 5-day VWAP as of November 23, 2022, for a period of 10 years, subject to vesting requirements and any necessary regulatory approvals. CloudMD also granted 147,500 restricted share units (“RSUs”) to certain directors and officers of the Company pursuant to the Company’s RSU plan effective as of market close on November 23, 2022, each RSU entitling the holder to acquire one common share of the Company in certain circumstances, subject to vesting requirements and any necessary regulatory approvals.