CloudMD Strengthens Board with Appointment of Gaston Tano as Director

VANCOUVER, British Columbia, May 02, 2022 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQX: DOCRF, Frankfurt: 6PH) (“CloudMD” or the “Company”), a healthcare technology and innovative health services company transforming the delivery of care, is pleased to announce that Mr. Gaston Tano has been appointed to its Board of Directors, adding significant finance and audit depth.

Mr. Tano is a senior finance executive with over 30 years of diverse industry experience in multiple global public companies. Since 2017, Mr. Tano has served as Senior Vice President and CFO of Shawcor Ltd., a global material sciences company serving the Infrastructure, Energy, and Transportation markets, which generated over $1Bn in revenue in 2021. Previously, Mr. Tano held the Senior VP and CFO position at Spin Master Ltd. (2011 to 2015) and at CCL Industries Inc. (2008 to 2011). In addition, he held several senior finance positions at Bacardi Ltd. (1995 to 2008). Mr. Tano is a Canadian Chartered Professional Accountant (CPA, CA) and a U.S. Certified Public Accountant (CPA, Illinois). He also holds an Institute of Corporate Directors designation (ICD.D) from Rotman School of Business, University of Toronto.

Karen Adams, Interim CEO of CloudMD commented, “We are thrilled to add Gaston to our Board of Directors as his finance expertise with globally recognized companies will add significant value to our financial and audit governance. Gaston brings over 30 years’ experience in executive finance roles and we are grateful that he has decided to join our board and support the Company through its growth.” She continued, “CloudMD has positioned itself as an industry-leading provider of comprehensive, employer healthcare and as we continue to grow, corporate governance has become a strong priority for the Company. We will continue to lean on our Board to adhere to exceptional governance, accountability, and transparency in our operations.”

“I am excited to join the Board of CloudMD and support the Company as they continue to drive innovation and disrupt the healthcare industry,” commented Gaston Tano. “I believe my extensive senior financial expertise will help guide the Company on their path back to profitable financial sustainability and through its continued growth.”

As CloudMD continues to focus on growth and sustainable profitability, it recognizes the importance for strong leadership at both the management and Board levels. There have been active discussions regarding the importance of the Company having strong governance and financial acumen on the Board has been emphasized. The appointment of Mr. Duncan Hannay to the Board in 2021 was one of the initial steps taken by the Company in executing on such strategy and Mr. Tano’s appointment is the most recent. The Board will continue to evolve and is expected to increase in size, as well as the depth of its skills and strengths, as CloudMD continues to grow. As a result, several potential Board members have been identified, all of whom have skill sets that could support the Company through its next phase of development. The Company intends on adding an additional independent director in the near term with additional depth to be added to the Board at the Company’s next shareholder meeting.

About CloudMD Software & Services

CloudMD is transforming the delivery of healthcare using technology and by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, healthcare navigation, educational resources, and artificial intelligence (AI). CloudMD’s business is separated into three main divisions: Clinics and Pharmacies, Digital Solution and Enterprise Health Solutions, the Company’s fastest growing division. CloudMD’s Enterprise Health Solutions Division has built a leading employer healthcare solutions, including its Comprehensive Integrated Health Services Platform, which offers one comprehensive, digitally connected platform for educational institutions, corporations, insurers, and advisors to better manage the health and wellness of their students, employees, and customers.

CloudMD currently services a direct ecosystem of over 5,700 clinicians including, 1,800+ mental health practitioners, 1,600+ allied health professionals, 1,400+ doctors and nurses and covers 12 million individual lives across North America. For more information visit: .

ON BEHALF OF THE BOARD OF DIRECTORS

“Karen Adams”

Interim Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:

Julia Becker

VP, Investor Relations



(604)785-0850

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities laws. Forward-looking statements in this news release include, but are not limited to, statements regarding changes to the Board, including increasing the number of directors. These statements are based upon information currently available to CloudMD’s management. All information that is not clearly historical in nature may constitute forward‐looking statements. In some cases, forward‐looking statements may be identified by the use of terms such as “forecast”, “assumption” and other similar expressions or future or conditional terms such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and “should”. Forward-looking statements contained in this news release are based on certain factors and assumptions made by management of CloudMD based on their current expectations, estimates, projections, assumptions and beliefs regarding their business and CloudMD does not provide any assurance that actual results will meet management’s expectations. While management considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. Such forward‐looking statements are not guarantees of future events or performance and by their nature involve known and unknown risks, uncertainties and other factors, including those risks described in the Company’s MD&A and most recent Annual Information Form (which are filed under the Company’s issuer profile on SEDAR and can be accessed at ), that may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking statements. Although CloudMD has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward‐looking statements, other factors may cause actions, events or results to be different than anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such forward‐looking statements. Accordingly, readers should not place undue reliance on forward‐looking information. CloudMD does not undertake to update any forward-looking information, whether as a result of new information or future events or otherwise, except as may be required by applicable securities laws.