As an initial step, the Universal mCloud Corp. appointed Co-Founder and Chief Investment Officer Michael A. Sicuro non-executive Chairman of the Board, while simultaneously appointing Darren Anderson, currently the Company's Chief Accounting Officer to Chief Financial Officer. Current Board member Mike Allman will have a more active role with the senior team in the Company's growth and strategy activities while continuing to serve on the Board as Chairman of the Compensation and Nominating Committees.

Mr. Anderson has over 13 years of experience in finance and accounting including over 5 years as a finance executive. The Company also accepted the resignation of John Pitfield from the Board of Directors and appointed Betsy Maclean to the Board, both effective immediately. Ms. Maclean - During 14 years at Honeywell Inc. Ms. Maclean held leadership positions in global finance, financial systems, and analytics.

After Honeywell she held executive finance and accounting positions in both private and public companies. Ms. Maclean is currently VP of Finance and Accounting at Newgioco Group Additionally, the Company's Board of Directors has formed a special committee to be chaired by Mr. Sicuro to oversee the NASDAQ listing process together with management and the company's outside advisors. The mission of the Special Committee will be to ensure a smooth and efficient transition to co-list with the NASDAQ while enabling the management team to continue to focus on mCloud's growth strategy, thereby minimizing distractions from the business.