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Carl Data Solutions Announces Closing of Private Placement


/ -- VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 28, 2017) - Carl Data Solutions Inc. (CSE: CRL) (FRANKFURT: 7C5) (OTC PINK: CDTAF) ("Carl" or the "Company"), a developer of Big-Data-as-a-Service ("BDaaS")-based solutions for data integration, business intelligence, and Industrial Internet-of-Things applications, is pleased to announce that, further to its news release dated November 20, 2017, it has closed the non-brokered private placement offering (the "Offering"). Pursuant to the Offering, the Company sold 6,486,921 units (each, a "Unit") at a price of $0.26 per Unit for gross proceeds of $1,686,599.46. The Company intends to use the proceeds of the Offering for implementing new advanced features to its FlowWorks application and for general working capital purposes.

Each Unit was comprised of one common share in the capital of the Company (each, a "Share") and one common share purchase warrant (each, a "Warrant"), each Warrant being exercisable into one Share at a price of $0.40 per Share until November 27, 2019. Should the Shares trade at a price greater than $0.75 per share for ten consecutive trading days, the Company will have the right to accelerate the expiry of the Warrants by giving notice to the holders of the Warrants by news release that the Warrants will expire on a date that is not less than 30 days from the date notice is given (the "Acceleration Right").

The Company paid a cash commission of $208 and issued 1,000 non-transferable purchase warrants (each, a "Finder's Warrant") to one finder in connection with Offering. Each Finder's Warrant entitles the holder to purchase one additional Share at a price of $0.40 per Share until November 27, 2019. The Finder's Warrants are subject to the Acceleration Right.

All of the securities issued in connection with the Offering are subject to a statutory hold period of four months and one day.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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, Carl helps its clients analyze and understand all forms of environmental data through a powerful platform of data collection, monitoring, analysis and reporting tools.

Carl Data continues to develop applications to work with new cloud-based mass storage services and analytics tools (Big-Data-as-a-Service (BDaaS) to provide scalability for municipalities, utilities and other industrial verticals. These 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

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.

For further information please contact:

Kimberly Bruce
Corporate Communications
Carl Data Solutions Inc.
Telephone: (778) 379-0275