CALGARY, AB – (Newsfile Corp. - January 29, 2021) - Roosevelt Capital Group Inc. (TSXV: ROSV.P) ("Roosevelt"), a capital pool company, and Cloud DX, Inc. ("Cloud DX") are pleased to announce that they have entered into a definitive arrangement agreement dated January 29, 2021 (the "Arrangement Agreement") which outlines the terms and conditions pursuant to which Roosevelt and Cloud DX will complete a transaction that will result in a reverse take-over of Roosevelt by the shareholders of Cloud DX (the "Transaction").
For additional information concerning the Transaction and the foregoing matters, please refer to Roosevelt's press release dated January 19, 2021 which is available on Roosevelt's SEDAR profile at www.sedar.com.
Update on Cloud DX
On January 26, 2021, FedDev Ontario announced an investment of $500,000 in Cloud DX to support the expansion of Cloud DX in Canada and the United States and to upgrade its next generation Cloud DX Connected Health platform to seize new opportunities resulting from the growing demand for Remote Patient Monitoring driven by COVID-19.
About Roosevelt Capital Group
Roosevelt is a capital pool company that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the Exchange's CPC Policy, until the completion of its qualifying transaction, Roosevelt will not carry on business, other than the identification and evaluation of businesses or assets with a view to completing a proposed qualifying transaction.
For further information, please contact:
Bruce Bent, Chief Financial Officer
Roosevelt Capital Group Inc.
Telephone: (905) 567-3431
Email: bbent@msw.on.ca
About Cloud DX
Cloud DX is a leader in virtual healthcare and digital medicine with rapidly growing sales across North America. Our complete remote patient monitoring platform incorporates proprietary medical devices, mobile apps, clinical dashboards, artificial intelligence and EMR integration. Cloud DX now provides products and services to hospitals, healthcare providers and provincial health departments across North America. In 2020, Cloud DX was a co-recipient of the Roche COVID Challenge award, and is widely recognized for their ground-breaking med tech innovations, including winning the Qualcomm Tricorder XPRIZE Bold Epic Innovator Award, Fast Company magazine "World Changing Idea" and most recently a 2021 Edison Award nomination.
For further information, please contact:
Robert Kaul, Chief Executive Officer
Cloud DX, Inc.
Telephone: (888) 534-0944
Email: ceo@clouddx.com
