Welcome!

News Feed Item

Carl Data Solutions Signs LOI for Acquisition of Cryptocurrency Mining Hardware and Partnership for IIoT BlockChain Technology Development

CSE:CRL
FSE:7C5
OTC:CDTAF

VANCOUVER, Dec. 7, 2017 /PRNewswire/ - Carl Data Solutions Inc. (CSE:CRL, FSE:7C5, OTC:CDTAF) (the "Company"), has entered into a letter of intent (the "Letter of Intent") to acquire cryptocurrency mining hardware from Connected Fintech Inc. ("Connected") and partner with Connected with respect to the joint development of a first of its kind IIoT BlockChain technology for integration into the Carl Data's machine learning, predictive analytics and operational metrics for cryptocurrency mining hardware.

Greg Johnston, Carl Data President and CEO, stated, "Consistent with our business plan to acquire new complimentary products and services, our partnership with Connected Fintech Inc. will allow us to develop the first IIoT BlockChain.  The technology will allow us to build in accountability, transparency and security into the transactions of data from various measurement devices.  We are very excited to introduce this new technology into the IIoT space and know it will be of tremendous value for our customers and all consumers of environmental monitoring data."

Jiang (Jay) Yu, Connected Fintech Inc. President and CEO, stated, "I am excited to partner with Carl Data Solutions to build out the infrastructure for their cryptocurrency mining facility. We also plan on developing IIoT BlockChain Technology for Carl, a vertical within the Cryptocurrency and BlockChain space that not many are focusing on. Having a partner like Carl, a big data company that has the infrastructure and ability to make sense of this fast growing sector within fintech."

In connection with the Company's proposed acquisition of cryptocurrency mining hardware, the Company has agreed to pay Connected $250,000 and issue to Connected up to 2,000,000 common shares in the capital of the Company (each, a "Share"), such subject to the following milestones: (i) 1,000,000 Shares to be released upon signing of a definitive agreement; (ii) 500,000 Shares to be released upon the Company's facility and infrastructure being made fully compatible with cryptocurrency data miners; and (iii) 500,000 Shares to be released upon final installation of Connected's cryptocurrency mining hardware. In connection with the proposed technology development partnership between the Company and Connected, the Company has agreed to pay Connected a retainer of $4,000 per month and will grant a 15% royalty on the Company's gross revenue generated from cryptocurrency mining activities for an initial term of one year.

The Letter of Intent contemplates that a definitive agreement will be entered into on or before January 2, 2018.

About Connected Fintech Inc.

Connected Fintech Inc. with offices in Vancouver B.C. and Wall Street N.Y.C, is a diversified financial technology company focused in the fastest growing sectors of Cryptocurrency, BlockChain Technology, Payment Solutions, Data Intelligence, Industrial Internet of Things (IIoT), Artificial Intelligence (AI), Machine Learning and Predictive Analytics.

Connected Fintech Inc. plans to purchase its own real estate and land for developing large scale Cryptocurrency mining facilities in Canada and the United States. Worldwide launch of Connectedcoin ATMs, which offer bi-directional functionality, enabling both the purchase of cryptocurrencies as well as redemption of cash. Connected Fintech Inc. provides Technical Professionals in Hardware and Software build out of Cryptocurrency data mining infrastructures and facilities. The company is creating a portfolio of Intellectual Property (IP) in the space of Industrial Internet of Things (IIoT), Payment Solutions, Cryptocurrency and BlockChain Technologies. www.ConnectedFintech.com

About Carl Data Solutions Inc.

Carl Data Solutions Inc. is an Industrial IoT (IIoT) company 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, reporting, and predictive analysis 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.  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.

Disclaimer for Forward-Looking Information

Certain statements in this press release related to the Offering and the securities issuable thereunder are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the proposed acquisition of cryptocurrency mining hardware by the Company and the expected terms of such acquisition, the Company's proposed partnership with Connected and the expected terms of such partnership, the entering into of a definitive agreement and the timeline for same and the expected benefits of the Company's foray into the cryptocurrency mining and Blockchain spaces. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Company's ability to complete the Offering, including the risk that the Offering may not be completed as expected or at all and other factors beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Carl Data Solutions Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...