11:35 AM EST - CloudMD Software & Services Inc. : Announced that it has signed a Share Purchase Agreement to acquire South Surrey Medical Inc., an integrated medical clinic based in Metro Vancouver, BC. As previously announced on June 11, 2020, the Company signed a Binding Term Sheet with South Surrey to acquire 100% of the business, assets and operations. In consideration for the purchase of all of the outstanding securities of the medical clinic, CloudMD has agreed to pay Shareholders (pro-rata) aggregate consideration of up to C$700,000 payable as up to C$200,000 in cash and up to C$500,000 in shares of the Company, a portion of which is subject to the achievement of certain performance conditions, and a customary working capital adjustment. CloudMD Software & Services Inc.
shares V.DOC are trading up 2 cents at $0.56.
