Carl Data Completes Acquisition of Metal Tech Alley’s Astra Smart Systems
June 19, 2018 – Vancouver, British Columbia – Carl Data Solutions Inc. (CSE:CRL, FSE:7C5, OTC:CDTAF) (“Carl Data” or the “Company”) is pleased to announce that, further to its press releases dated May 1, 2018 and June 11, 2018, it has completed the acquisition (the “Acquisition”) of Astra Smart Systems Corp. (“Astra”) pursuant to a securities exchange agreement dated June 8, 2018 among Carl Data, Astra and Astra’s shareholders (the “Shareholders”).
Astra manufactures Industrial Internet of Things (IIoT) devices and runs a data center that can host over 1,000 servers. Several high profit margin Data Hosting, Data Processing, Data Analytics and Software as a Service (SaaS) contracts that generate monthly reoccurring revenue are also serviced by Astra, which is now a wholly-owned subsidiary of Carl Data. Pilar Portela, founder and CEO of Astra has also agreed to continue with her role and assist with the transition for one year.
In connection with the Acquisition, Carl Data: (i) issued an aggregate of 9,300,000 common shares in the capital of the Company (approximately $1,581,000 CAD at $0.17 per share) to the Shareholders, (ii) has agreed to pay an aggregate of $300,000 in cash to the Shareholders no later than two business days prior to the thirtieth day following closing and (iii) has agreed to pay an aggregate of $300,000 in cash to the Shareholders within six months of closing.
Greg Johnston, Carl Data’s President and CEO, commented, “During our due diligence, Astra’s team impressed us with their knowledge of the expanding markets for Industrial IoT environmental monitoring. Our combined lines of sensor, software and data management tools will allow us to sell industrial grade end-to-end (E2E) solutions to help predict damage from things like flooding, forest fire and drought. We expect to scale up quickly with our new sensor manufacturing and assembly capabilities, and one-megawatt data center.”
Investors interested in learning more about the Astra Acquisition and Carl Data Solutions can register for the upcoming first Carl Data live Q&A session. Greg Johnston and Carl Data CFO, Alastair Brownlow, will give a brief presentation about the technical and financial trajectory of the Company, and answer questions from participants.
About Astra Smart Systems
Astra is located at the i4C Innovation building, an Industrial IoT lab, production and development facility located in Trail, BC, Canada. Astra’s mandate is to develop E2E solutions for complex industrial challenges.
Astra’s facility is at the centre of the Kootenay regions industrial fibre optic hub and sits along the newly established Metal Tech Alley. This corridor of high-technology ventures focused on industrial innovation, right across from the regional Trail Airport (YZZ) and with railway access to the US border at only seven kms away. Astra offers custom-designed infrastructure, equipment, and professional services for IIoT applications. More information can be found at http://astra.earth.
About Carl Data Solutions
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 Solutions Inc. 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 www.CarlSolutions.com.