Carl Data’s FlowWorks, Hicks en­ter set­tle­ment deal

Stockwatch Daily - - TECHNOLOGY & TELECOM - Mr. Greg John­ston re­ports

EF­FEC­TIVE AS of June 8, 2017, Carl Data So­lu­tions Inc. and FlowWorks Inc., the com­pany’s wholly owned sub­sidiary, have en­tered into a set­tle­ment and re­lease agree­ment with Ti­mothy Hicks, 5346 In­vest­ments Ltd. and Kerr Wood Lei­dal As­so­ciates Ltd., whereby the par­ties agreed to set­tle a law­suit re­lat­ing to the dis­sent by Mr. Hicks to the ac­qui­si­tion of FlowWorks by the com­pany.

Pur­suant to the set­tle­ment agree­ment, FlowWorks agreed to pay Mr. Hicks $1,000 (U.S.) within 30 days of the set­tle­ment agree­ment be­com­ing ef­fec­tive (paid) and pay Mr. Hicks an ad­di­tional $10,000 (U.S.) within 30 days of the set­tle­ment agree­ment be­com­ing ef­fec­tive (paid). In ad­di­tion, FlowWorks agreed to pay Mr. Hicks $100,000 (U.S.) within 90 days of the set­tle­ment agree­ment be­com­ing ef­fec­tive.

In ad­di­tion, pur­suant to the set­tle­ment agree­ment, the com­pany is re­quired to is­sue to Mr. Hicks:

1. 444,444 com­mon shares of the com­pany within five busi­ness days of the set­tle­ment agree­ment be­com­ing ef­fec­tive (is­sued);

2. 444,444 com­mon shares within 10 busi­ness days of the set­tle­ment agree­ment be­com­ing ef­fec­tive (is­sued);

3. 44,444 com­mon shares within six months of the set­tle­ment agree­ment be­com­ing ef­fec­tive.

The first tranche shares are sub­ject to an es­crow agree­ment be­tween the com­pany, Mr. Hicks and Com­put­er­share Trust Com­pany of Canada.

All of the shares will be sub­ject to a statu­tory hold pe­riod ex­pir­ing on the date that is four months and one day af­ter the date of is­suance.

About Carl Data So­lu­tions Inc.

Carl Data So­lu­tions 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 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-based ap­pli­ca­tions that can col­lect data from many di­verse

sources and pro­vide deep in­sight for de­ci­sion-mak­ing pur­poses.

Chris John­ston, D Gre­gory John­ston, Rick San­der­son, Ja­son Wes­ley Scharfe, Bryan Se­gal

(CRL) Shares: 31,588,475

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