Mr. Jay Bedard reports

CLOUD DX ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Cloud Dx Inc., further to its news release dated March 15, 2023, has closed the final tranche of the private placement of units of the corporation. Pursuant to the final tranche, the corporation issued 1,802,855 units for aggregate gross proceeds of $252,400. Total aggregate gross proceeds under the private placement were $2,854,284.

Each unit comprises one common share in the capital of the corporation and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share at a price of 21 cents per common share for a period of three years following the issuance of such warrant, subject to accelerated expiry as described herein. If, at any time, the closing price of the corporation's common shares is greater than 42 cents per common share for 20 consecutive trading days, the corporation may provide written notice to the holders that the expiry of the warrants shall be accelerated to a date that is not less than 15 days from the date of the warrant acceleration notice.

The corporation received an extension from the TSX Venture Exchange with respect to the private placement in order to confirm subscriptions with certain participants. The common shares and warrants comprising the units will be subject to a four-month hold period.

The corporation intends to use the net proceeds of the final tranche of the private placement for repayment of accrued debts and general corporate purposes. The corporation paid finders' fees of 8 per cent in cash and 8 per cent in broker warrants on a portion of the final tranche of the private placement to certain finders, in accordance with the policies of the TSX Venture Exchange. The corporation issued a total of 32,000 broker warrants and paid cash commissions of $4,480 in connection with the final closing of the private placement, such broker warrants being convertible into common shares.

About Cloud Dx Inc.

Accelerating the future of virtual health care, Cloud Dx is making health care better for everyone. The corporation's Connected Health remote patient monitoring platform is used by health care enterprises and care teams across North America to virtually manage chronic disease, enable ageing in place and deliver hospital-quality postsurgical care at home. Providers partnering with Cloud Dx achieve better health care and patient outcomes, reduce the need for hospitalization/rehospitalization, and reduce health care delivery costs through more efficient use of resources. Cloud Dx is the co-winner of the Qualcomm Tricorder XPrize, a 2021 Edison Award winner, a Fast Company world changing idea finalist and one of Canada's 10 most prominent telehealth providers.

We seek Safe Harbor.