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Carl Data Solutions Announces Completion of $900,000 Private Placement
Friday, November 4, 2016Company Profile | Follow Company
Vancouver, BC, November 4, 2016--(T-Net)--Carl Data Solutions Inc. (CSE:CRL), a developer of Big-Data-as-a-Service (“BDaaS”)-based solutions for data integration, business intelligence, and industrial Internet-of-Things (“IoT”) applications, announced that is has closed a non-brokered private placement offering pursuant to which it sold an aggregate of 2,500,000 units, at a price of $0.36 per Unit, for gross proceeds of $900,000.
Each Unit was comprised of one common share in the capital of the Company and one half of one transferable share purchase warrant. Each Warrant entitles the holder thereof to acquire one additional Share at a price of $0.60 for a period of two years.
Carl gained a strong foothold in the utility market with the acquisition of FlowWorks, a water and waste water management application, according to teh company.
The Company has plans to expand beyond FlowWorks' current customer base to include mining and oil & gas in addition to local and regional government water infrastructure management. The proceeds from the Offering will help the Company further develop and customize its applications for use in these lucrative markets.
Carl will use the Offering proceeds for R&D, sales, marketing and developing new distribution channels. A key focus in promoting the adoption of Carl's applications will be on promoting new application features that use machine learning to simplify many tasks.
Greg Johnston, CEO of Carl, commented, “It's great to have additional investors on board who understand the opportunity and potential in the industrial IoT data analytics sector. We are very pleased to have the additional resources to continue to grow our customer base and develop industry leading applications.”
In connection with the Offering, the Company issued 200,000 finder's Shares at $0.36 per Share and 200,000 finder's warrants. Each warrant entitles the holder thereof to acquire one additional Share at a price of $0.60 for a period of two years.
The Company is also pleased to announce that a debtholder of the Company has agreed to settle debt in the aggregate amount of $147,938 in consideration of the issuance of an aggregate of 435,111 common shares of the Company at $0.34 per share.
The securities issued under the Offering and the debt settlement, and the shares that may be issuable on exercise of the warrants, are subject to a statutory hold period of four months and one day.
About Carl Data Solutions Inc.
Carl Data Solutions Inc. is focused on providing next generation information collection, storage and analytics solutions for data centric companies. Building on its recent acquisitions, Flow Works Inc., a company that helps its clients analyze and understand all forms of environmental data through a powerful platform of data collection, monitoring, analysis and reporting tools and Extend to Social Media Inc., a company that specializes in unstructured data analysis from Social Media, Carl develops applications to work with new cloud-based mass storage services and analytics tools (Big-Data-as-a-Service (“BDaaS”)).
Carl's development platform can accommodate virtually unlimited storage of any type of data. This technology allows Carl to build advanced applications for monitoring, reporting and analysis. Carl's data collection and storage methods allow the company to build smart Software-as-a-Service (“SaaS”)-based applications that can collect data from many diverse sources and provide deep insight for decision-making purposes. More information can be found at www.carlsolutions.com.
For further information please contact:
Kimberly Bruce Corporate Communications Carl Data Solutions Inc.
Telephone: (778) 379-0275
Email: info@carlsolutions.com
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
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infinitii ai (formerly Carl Data Solutions Inc.)
Vancouver (InfoTech)
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