VANCOUVER, British Columbia, May 21, 2020 (GLOBE NEWSWIRE) — CloudMD Software & Services Inc. (CSE: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a telemedicine company revolutionizing the delivery of healthcare to patients, is proud to announce that one of their clinics’ doctors, Tahmeena Ali received the BC Family Physician of the Year Award from the BC College of Family Physicians.
The BC College of Family Physicians is an organization representing over 6000 physicians across the province. The award recognizes a family doctor who provides exemplary care to patients and takes part in activities that contribute to excellence in family medicine.Dr. Ali practices full-service family medicine at one of the CloudMD clinics. She was an early adopter to incorporate telemedicine into her practice and greatly assisted with the workflow and development of CloudMD’s patient focused model of care. CloudMD’s hybrid model incorporates virtual care to supplement in person visits. Along with colleagues and representatives from the Surrey School District and the Ministry for Child and Family Development, she created the School Triage Team which provides a much-needed interface between mental health professionals and school teachers. In addition, Dr. Ali is the current chair of the Division of Family Practice of White Rock/South Surrey and previously headed an Acquired Brain Injury unit where she further recognized the power of providing complex psychiatry patients with optimal and supportive follow-up upon discharge.Dr. Ali is enthusiastic about CloudMD’s technology enabled mental health initiative. The innovative solution focuses on providing app enabled mental health counselling to support patients. Through private and secure online video, people can easily access and book sessions with experienced professionals when and where they need it. The Company also focuses on providing access to mental health to underserved and under privileged communities, which due to geography and the scarcity of mental health professionals, have previously been overlooked.“I am honoured to be awarded BC’s Family Physician of the Year award, and I am proud of all my peers for our continued efforts during these trying times,” said Dr. Ali. “CloudMD’s technology supports the most important tenet in family practice: longitudinal care. Providing virtual care allows me to care for my patients from Lillooet to Langley and minimizes the barriers for my patients to obtain care from their family physician—the provider who knows them best. That relationship makes it easier for patients to open up about challenging topics, like mental health, even when we talk about it over an app.”Dr. Essam Hamza, CEO of CloudMD commented, “Congratulations to Dr. Ali for receiving this prestigious award. Her hard work, innovation and dedication to BC’s healthcare sector makes her a perfect candidate for the award. We continue to be impressed with, and inspired by, the innovative work she’s doing. It’s an honour to work with her and we are proud she is part of our CloudMD team.”CloudMD also announces that it will issue an aggregate of 150,000 common shares (the “Shares”) of the Company to an insider, in consideration for services rendered. Pursuant to the terms of a services agreement (the “Services Agreement”), a total of 150,000 Shares will be issued to Mark Kohler in consideration for advisory services provided to the Company in his capacity as Director and Chairman. The common shares are being issued as a shares for services transaction, at a deemed price of $0.75 per common share. The disinterested directors of the Company have approved the Services Agreement with the insider. The Shares issued are subject to escrow and will be released on a monthly basis and all securities issued pursuant to the Services Agreement will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws. The Company confirms that a new Control Person has not been created.The insider shares for services transaction is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 (“MI 61-101”) by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to the insiders does not exceed 25% of its market capitalization.About CloudMD Software & ServicesCloudMD is digitizing the delivery of healthcare by providing patients access to all points of their care from their phone, tablet or desktop computer. The Company offers SAAS based health technology solutions to medical clinics across Canada and has developed proprietary technology that delivers quality healthcare through the combination of connected primary care clinics, telemedicine, and artificial intelligence (AI). CloudMD currently provides service to a combined ecosystem of 376 clinics, over 3000 licensed practitioners and almost 3 million patient charts across its servers.ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD”
Chief Executive OfficerFOR ADDITIONAL INFORMATION CONTACT:CloudMD Software & Services Inc.
investors.cloudmd.ca
Email: investors@cloudmd.caForward Looking StatementsThis news release contains forward-looking statements that are based on CloudMD’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to its business plans. Although CloudMD believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and CloudMD undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
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