Vancouver, British Columbia--(Newsfile Corp. - August 14, 2019) - Carl Data Solutions Inc. (CSE: CRL) (FSE: 7C5) (OTCQB: CDTAF) ("Carl Data"), has announced that it has closed a non-brokered private placement offering (the "Offering"). Pursuant to the Offering, Carl Data sold 4,000,000 units (each a "Unit") at a price of $0.20 per Unit for gross proceeds of $800,000. This investment provides the working capital and relationships required to expand further into overseas markets.
"This investment in our company was the product of working closely with PRC Partners Ltd. We are now well positioned to expand our end-to-end IoT environmental monitoring solutions into other large markets beyond North America," said Greg Johnston, Carl Data President and CEO. "In particular, we see this as a major step toward capturing projects in China where we are working with partners to distribute our products and services."
Carl Data has invested millions of dollars into building technology that is revolutionizing the way industries extract value from their data. Carl Data has developed a unique platform that provides real-time monitoring and predictive analytics for cities and industry.
Each Unit was comprised of one common share in the capital of Carl Data (each, a "Share"), and one half of one common share purchase warrant, (each, a "Warrant"), each full Warrant being exercisable into one Share at a price of $0.50 per Share until August 14, 2021.
Carl Data paid a cash commission of $64,000 to one finder in connection with the Offering. No additional financing fees are associated with the Offering. All of the securities issued in connection with the Offering are subject to a statutory hold period of four months and one day.
About PRC Partners Ltd.
PRC Partners Ltd. is a Hong Kong based consultant group that focuses on undervalued and promising growth companies and serves these companies by increasing visibility & accessing capital through an experienced network of investors. The company focuses on Europe and Asia Pacific, with a strong focus on China.
About Carl Data Solutions Inc.
Carl Data Solutions Inc. is an Industrial IoT (IIoT) company that provides next generation collection, storage and analytics solutions for data-centric companies. Building on its recent acquisitions, Carl Data helps clients analyze and model environmental data through a powerful technology agnostic end-to-end platform of smart sensors combined with web-based monitoring, reporting, and predictive analytics applications.
Carl Data continues to develop applications that extract value from new cloud-based mass storage services and machine learning (AI) analytics tools to provide the scalability needed to effectively monitor smart cities, utilities and other industrial verticals. This software suite saves clients time and money by amassing information from any sensor or source to create a real-time decision support system with deep insights into how to protect infrastructure and assets. More information can be found at www.CarlSolutions.com.
On behalf of the Board of Directors:
President, Chief Executive Officer, Director
Carl Data Solutions Inc.
For further information please contact:
Carl Data Solutions Inc.
Telephone: (778) 379-0275
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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