CloudMD securityholders approve go-private transaction with CPS Capital

CloudMD Software & Services announced that its securityholders approved the special resolution authorizing the previously announced plan of arrangement with CPS Capital. Pursuant to the Arrangement, the Purchaser will, among other things, acquire all of the issued and outstanding common shares of CloudMD. Each CloudMD shareholder will receive C$0.04 in cash for each Share held. The special resolution approving the Arrangement was approved by 69.68% of the votes cast by Shareholders present in person or represented by proxy and entitled to vote at the Meeting, 70.27% of the votes cast by Shareholders and holders of options of CloudMD, voting together as a single class, present in person or represented by proxy and entitled to vote at the Meeting, and 69.60% of the votes cast by Shareholders present in person or represented by proxy and entitled to vote at the Meeting other than the votes attached to Shares required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. CloudMD will seek a final order of the Supreme Court of British Columbia to approve the Arrangement at a hearing expected to be held on July 3, 2024. The Arrangement is expected to close on or about July 9, 2024, provided all of the customary closing conditions set forth in the definitive agreement are satisfied or waived.