Universal mCloud Repays $2M Acquisition Loan Payable to Flow Capital

Universal mCloud

Good news for Vancouver-based Universal mCloud Corp. (TSXV:MCLD) (OTCQB:MCLDF), as the company announced that it has fully repaid a loan it took out for the acquisition of a royalty interest in Agnity Global, Inc.

Originally announced on January 17 of this year, the loan was provided by Flow Capital Corp. and consisted of $2,000,000 USD bearing an annual interest of 25 percent. In addition to the loan, the first year’s interest and an additional fee were also repaid. mCloud also delivered to Flow 1,500,000 common shares in the company.

“With the repayment of this ...

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