Canadian Data Preserve, Inc.
CNSX : DPC

May 27, 2011 09:30 ET

Canadian Data Preserve, Inc. (CNSX:DPC) Acquires Interest in DataPreserve, Inc. of Scottsdale Arizona

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 27, 2011) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION TO US NEWSWIRE SERVICES FOR DISCLOSURE IN THE UNITED STATES

The Board's of Directors of Canadian Data Preserve, Inc. (Canadian DP) (CNSX:DPC) and DataPreserve, Inc. (DPI), are pleased to announce that effective May 16, 2011, Canadian DP's common shares were listed for trading on the Canadian National Stock Exchange (CNSX) (trading symbol- DPC). Concurrently, Canadian DP acquired 10% of DPI, a Phoenix based data storage, backup and retrieval company, in consideration of 5,000,000 common shares of Canadian DP in an arm's length transaction, based upon audited financial statements in accordance with the requirements of a significant business acquisition. Canadian DP raised a total of $100,000 by way of private placement issuing 1,600,000 units at a price of $.0625 per share, each unit consisting of one share and two share purchase warrants, the warrants exercisable at $.225 per share. Canadian DP currently has a total of 15,713,667 common shares issued and outstanding. Details of the acquisition can be found on the CNSX website www.cnsx.ca in the Listings Disclosure Hall tab and on SEDAR.

The two companies plan to unify their Board of Directors and work together to eventually complete the acquisition of the remaining shares of DPI. Upon completing the full acquisition, DPI will be a wholly owned subsidiary of Canadian DP, headquartered in Phoenix Arizona and whose shares will continue to trade on the CNSX.

DPI provides tailored data management solutions, data storage, recovery, and consulting services to small and medium sized enterprises. The Company's software, hardware, and SAS-70 data center operations manage and protect business data whether for a single computer or part of a multi-office global enterprise operations network. DPI is focused on regulated markets such as gaming and health care, offering unique cross over services including electronic records management services as an integral part of the core business.

Business best practices and government regulations provide the impetus for a documented business continuity plan. DPI provides the data management solutions to meet financial, medical and regulatory compliance requirements of an overall business continuity program for its existing customers throughout North America.

Charles Bowen, CEO of DPI, commented, "Our Company will be significantly advantaged in its pursuit of expansion capital through this new association. With a world that has become increasing reliant upon electronic paperless communication, the need for tailored document storage and efficient and reliable recovery has become mandatory. With focused expansion into regulated industries and with adequate capital investment, DPI will become a leading provider in this space."

Brian Cameron, CNSX Business Development Representative, Southwest Markets and CFO of DPI and DPC said, "DPI is particularly proud of its new associations in Canada and in particular as a corporation that has recognized the vast potential of the Canadian public markets to secure capital for US companies listing on the CNSX."

ON BEHALF OF THE BOARD OF DIRECTORS OF CANADIAN DATA PRESERVE, INC.

Donald Gordon, Director

ON BEHALF OF THE BOARD OF DATAPRESERVE, INC.

Charles Bowen, Director, CEO

The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.

CNSX does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Canadian Data Preserve, Inc.
    Brian Cameron
    CFO
    602-865-9356