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Universal mCloud further bolsters team as it appoints president of smart buildings

Weinerth previously held executive positions with Silicon Valley tech firms ..
Universal mCloud is an internet of things and cloud solutions group

Internet of Things and cloud solutions provider Universal mCloud Corp (CVE:MCLD) has further bolstered its team - hiring Dave Weinerth as president of smart buildings, with global responsibility for the group with immediate effect.

Weinerth previously held executive positions with Silicon Valley tech firms such as the high-profile PARC, a Xerox company and SCIenergy.

He  has also  worked at several early-stage technology companies in the cleantech sector.

"Dave brings extensive experience with energy software solutions for commercial buildings, including strategic relationships in the smart buildings ecosystem," Russel McMeekin, MCloud president and chief executive, told investors.

"Based in the San Francisco Bay area, Dave will leverage California's strong adoption of energy savings measures.

"He will apply his experience in building channel partnerships to position AssetCare for rapid growth in the USA and key international markets. Dave is an established leader and will be a strong asset on our executive team."

Weinerth added: "I'm excited to join this talented, diverse and motivated mCloud team.

"The AssetCare service starts with the IoT connected asset and is supplemented with a combination of machine learning and AI-driven software analytics.

"This tremendously empowers the service value chain. The addition of mobile 3-D/AR technologies will change the paradigm for how HVAC and other building assets are supported."

In a separate statement, the group revealed it had closed an additional and final tranche of its non-brokered private placing, issuing more than 16.3mln units at 35 cents each for around C$5.7mln gross.

Each unit consists of one company share and one half of a share purchase warrant, with each warrant exercisable at 45 cents each for 36 months following closing.

As previously reported, Universal plans to use the net proceeds for its recently announced China expansion, M&A (merger and acquisition) activities and its recently started investment in extensive wind turbine data capture via the use of highly precise drone technology in North America.

Shares are unchanged at C$0.54.

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