VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 08/23/16 — Carl Data Solutions Inc. (CSE: CRL)(FRANKFURT: 7C5) (the “Company”), a developer of Big-Data-as-a-Service (“BDaaS”)-based solutions for data integration and business intelligence, is pleased to announce that various creditors and debtholders of the Company have agreed to settle debt in the aggregate amount of $423,305.76 in consideration of the issuance of an aggregate of 949,664 common shares of the Company. 881,887 shares were issued at a price of $0.48 per share and the remaining 67,777 shares were issued at a price of $0.45 per share. The issued shares are all subject to a statutory hold period of four months and one day.
Insiders of the Company were issued an aggregate of 544,861 of the shares which constituted a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The issuance to insiders is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company–s shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the shares issued to the related parties did not exceed 25% of the Company–s market capitalization.
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 with an application that allows clients to leverage their customers– social networks for referral marketing and analytics, Carl develops applications to work with new cloud-based mass storage services and analytics tools (Big-Data-as-a-Service (“BDaaS”)).
Carl is creating a virtually unlimited data storage environment from which informative visual representations of data can be created and new insight generated. Carl–s goal is to deliver a comprehensive data management solution for datasets of any size and type from any source. More information can be found at .
On behalf of the Board of Directors:
Greg Johnston, President, Chief Executive Officer, Director, Carl Data Solutions Inc.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Contacts:
Carl Data Solutions Inc.
Tiffany Tolmie
Corporate Communications
(778) 379-0275
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