VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 28, 2016) - Carl Data Solutions Inc. (CSE:CRL)(CSE:CRL.CN)(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 the Industrial Internet-of-Things ("IIoT") applications, is pleased to announce that several debtholders of the Company have converted indebtedness in the aggregate amount of $504,450 into 1,483,676 shares a price of $0.34 per share. Principal and interest of $101,250 was converted into shares of the Company by each of AIP Private Capital Inc., AIP Global Macro Class, AIP Global Macro LP, and AIP Canadian Enhanced Income Class (collectively, the "Noteholders"), the holders of the notes issued by the Company on June 29, 2016. Each of the Noteholders also received 100,000 shares pursuant to the terms of the Note Agreement entered into with the Noteholders. The shares issued are subject to a statutory hold period of four months and one day.
Greg Johnston, CEO of Carl, commented, "This conversion of AIP's debt into shares, shows that our investors have confidence that we are on the right track to becoming a profitable company. As the potential of IIoT and Big Data becomes clear, institutional investors are recognizing Carl's BDaaS solutions are critical in this era of transformation."
Carl is continuing to expand its data management, analytics and monitoring at a time when most of the industrial world is looking for data solutions that work efficiently, maximize profits and minimize costs. Almost weekly, a government or large organization announces that it will be seeking to leverage Big Data to improve business and everyday quality of life, and investors are taking notice. This debt conversion from the Company's institutional investors comes on the heels of a recently completed $900,000 private placement, demonstrating overall confidence in Carl's position in delivering smart IIoT solutions.
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.
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.