CTAG Cloudtag

TIDMCTAG

RNS Number : 8673I

CloudTag Inc.

02 September 2016

CloudTag Inc.

("CloudTag" or the "Company")

Movement in Share Price and Update

CloudTag (CTAG:LN), the company that brings personal monitoring to wellbeing, fitness and digital health markets notes the recent increase in the Company's share price.

The Company continues to actively progress its business strategy of commercialising its proprietary IP and technology, including the CloudTag Track wearable device. The Company will provide a quarterly commercial update to shareholders in due course following the previous Commercial Update on 9 June 2016.

Further to this announcement, the Company can clarify that Second Chance Limited ("Second Chance") maintain their exclusivity to distribute the CloudTag Track in the EU and UK. The Commercial Update dated 9 June 2016 stated that the initial product delivery requirements with retailers and etailers had not then been concluded and, accordingly, orders for Q1 and Q2 agreed with Second Chance were allocated to H2 2016. These requirements have now been concluded and the current discussion is focussed on launch exclusivity periods.

The Board is currently optimistic that the sales targets agreed with Second Chance will be achieved but there can be no certainty of this.

Enquiries

 
 CloudTag Inc.                 +1 345 949 45 44 
 Daniel Fry                    contact@cloudtag.com 
 
 Cairn Financial Advisers 
  LLP (Nominated Adviser)      +44 (0)20 7148 7900 
 Tony Rawlinson / Jo Turner 
 
 Tavistock Communications 
  Limited (Financial PR)       +44 (0)20 7920 3150 
 Mike Bartlett / Andrew 
  Dunn 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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(END) Dow Jones Newswires

September 02, 2016 11:02 ET (15:02 GMT)

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