Wednesday, August 22, 2018

mCloud Common Shares Gain DTC Eligibility


Former president of the Advanced Software Group at Honeywell International, Russ McMeekin serves as chief executive officer of Universal mCloud Corp in San Francisco, California. In this position, Russ McMeekin provides strategic and operational leadership to the artificial intelligence and analytics company.

On August 9, 2018, mCloud announced that its OTCQB common shares had attained eligibility for the US-based Depository Trust Company (DTC), the world’s biggest securities depository. This eligibility meant the company’s common shares could be traded more efficiently and economically, and it also opened up mCloud shares to investors in the United States, growing the company’s visibility. 

mCloud was initiated into the public markets on Oct. 13, 2017. Its first six months’ update was released on May 1, 2018. Following its shares’ availability to US investors, mCloud CEO McMeekin gave an update to potential investors on the company’s recent initiatives. These included the signing of smart building and wind commercial agreements in China, the onboarding of a major banking organization, the consolidation with Agnity Global, and the appointment of Dave Weinerthas as president of mCloud Smart Buildings. mCloud’s shares will still be available on the Toronto Venture Exchange.