VANCOUVER, British Columbia, Oct. 20, 2017 (GLOBE NEWSWIRE) -- Carl Data Solutions Inc. (CSE:CRL) (FSE:7C5) (OTC:CDTAF) (the “Company”), a developer of Big-Data-as-a-Service (BDaaS)-based solutions for data integration, business intelligence, and Industrial Internet-of-Things (IIoT) applications, will be settling debt owing to companies related to its directors. Carl Data will also be altering its arrangement with AB Embedded Systems.

On March 9, 2017, Carl Data announced that it entered into a securities exchange agreement with AB Embedded Systems to acquire all of its issued and outstanding voting securities. Pursuant to delays in closing and in accordance with the securities agreement, Carl Data has elected to withdraw its bid and is pursuing alternative options for working with AB Embedded Systems.

Attila Bene, AB Embedded’s founder, will remain involved with Carl Data Solutions and continues to develop, engineer and integrate AB’s sensor and gateway technology with the Company’s existing software solutions.

Carl Data will settle a total of $79,500 by issuing 305,768 units at a deemed price of $0.26 per unit. Each unit will be comprised of one common share in the capital of the Company and one common share purchase warrant, each warrant being exercisable into one common share at a price of $0.40 per share for a two-year period from the date of issuance.

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, ETS and Flow Works Inc., Carl helps its clients analyze and understand all forms of sensor 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.

On behalf of the Company:

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

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.