Vancouver, British Columbia--(Newsfile Corp. - October 29, 2019) - Carl Data Solutions Inc. (CSE: CRL) (FSE: 7C5) (OTCQB: CDTAF) ("Carl Data") is pleased to announce its acquisition of i4C Innovation Inc. ("i4C"), an Industry 4.0 technology integrator with a global reach into a variety of industries including mining, oil and gas, and agriculture. The acquisition includes all current software and hardware technology contracts in addition to any projects under negotiation.
To acquire 100% of the outstanding shares of i4C, Carl Data issued 500,000 common shares pursuant to a share exchange agreement (the "Share Agreement"). Also, pursuant to the Share Agreement, Carl immediately issued 210,000 common shares to settle a total of $42,000 owing by i4C and Astra Smart Systems Corp., another wholly owned subsidiary of Carl Data, to a creditor.
"i4C will play a key role in expanding into our target verticals, in particular oil and gas," said Greg Johnston, Carl Data CEO and President. "Through this acquisition we not only gain the existing revenue, contracts and production space from i4c but also their extensive network of partners and sales opportunities."
For over 2 years, i4C has delivered end-to-end solutions for complex industrial problems using a team of software and hardware development experts, assisted by a variety of technology partners. This Industry 4.0 project management firm works with global partners to build technology solutions that help industrial enterprises adapt to changing environmental conditions and regulatory standards. Real-time information is essential for protecting key industrial assets. Pilar Portela will continue as i4C's president overseeing operations.
"Our focus has always been on connected devices and extracting value from their data," said Pilar Portela, i4C President. "With i4C's global reach and partner network, we will be able to immediately amplify Carl Data's efforts to distribute its unique technology."
About i4C Innovation Inc.
i4C is Canada's First Industry 4.0 Hub with an international industrial technology lab, production and testing facility located in Trail, BC, Canada. For the past two years i4C has delivered end-to-end technology solutions for complex industrial problems utilizing the knowledge and expertise of their team and technology partners. More information can be found at .
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 end-to-end network of custom sensors arrays combined with SaaS based monitoring, reporting, and predictive modelling applications.
Carl Data works with new cloud-based mass storage services and machine learning (AI) analytical tools to provide the scalability required to effectively monitor very large amounts of data used collected by both government and industry. The software suite saves clients time and money by aggregating 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 .
On behalf of the Board of Directors:
Greg Johnston
President, Chief Executive Officer, Director
Carl Data Solutions Inc.
For further information please contact:
Kimberly Bruce
Corporate Communications
Carl Data Solutions Inc.
Telephone: (778) 379-0275
Email:
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
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