WATERLOO, ON / ACCESSWIRE / April 30, 2021 / Cloud DX (TSXV:CDX) (The Company) a leading Canadian provider of virtual care and remote patient monitoring solutions is pleased to announce that, subject to regulatory approval, it has retained Red Cloud Securities (Red Cloud) to initiate its market making service to provide market making services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange (the "TSXV") and other applicable legislation. Red Cloud will trade shares of Cloud DX on the TSXV for the purposes of maintaining a reasonable market and improving the liquidity of Cloud DX's common shares.
The agreement between Red Cloud and the Company sees the Company paying Red Cloud $5,000 per month during the term, payable quarterly in advance. The engagement may be terminated by either party with written notice of 30 days. The Company and Red Cloud act at arm's length, but Red Cloud and/or its clients may have an interest, directly or indirectly, in the securities of Cloud DX. The agreement is principally for the purposes of maintaining market stability and liquidity for the Company's common shares and is not a formal market making agreement. There are no performance factors contained in the agreement between Red Cloud and the Company and Red Cloud will not receive any shares or options from the Company as compensation for services it will render. Adam Smith, who will be the service provider, has decades of industry experience as a former pro-trader and designated marker and ultimately a market maintenance and liquidity provider.
About Red Cloud Securities
Red Cloud Securities Inc. is an IIROC investment dealer focused on providing unique comprehensive capital market services and innovative financing alternatives to the junior resource sector. The company was founded by capital markets professionals who designed the firm to service small public and private companies. This solution is a comprehensive platform that provides a full range of unconflicted corporate access services. Offering these services as a unified platform provides the ultimate value proposition for issuer clients.
About Cloud DX
Cloud DX is making healthcare better for everyone. The company's Connected Health remote patient monitoring platform is used by hospitals, healthcare organizations and care teams across North America to virtually manage chronic disease, enable ageing in place and deliver hospital-quality post-surgical care. Providers partnering with Cloud DX achieve better healthcare and patient outcomes, reduce the need for hospitalization/re-hospitalization and reduce the costs of healthcare delivery through more efficient use of resources. Cloud DX is the co-winner of the Qualcomm Tricorder XPRIZE, a 2021 Edison Award winner, a Fast Company "World Changing Idea" finalist and one of Canada's 10 most prominent Telehealth providers.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For Cloud DX investor inquiries please contact:
Cloud DX Investor Relations
SOURCE: Cloud DX Inc.