Carl Data Solutions Announces Closing of Private Placement

Carl Data Solutions (CSE:CRL) has announced that further to its press release dated November 20, 2017 that it has closed a non-brokered private placement offering.
As quoted in the press release:

Pursuant to the Offering, the Company sold 6,486,921 units (each, a “Unit”) at a price of $0.26 per Unit for gross proceeds of $1,686,599.46. The Company intends to use the proceeds of the Offering for implementing new advanced features to its FlowWorks application and for general working capital purposes.
Each Unit was comprised of one common share in the capital of the Company (each, a “Share”) and one common share purchase warrant (each, a “Warrant”), each Warrant being exercisable into one Share at a price of $0.40 per Share until November 27, 2019. Should the Shares trade at a price greater than $0.75 per share for ten consecutive trading days, the Company will have the right to accelerate the expiry of the Warrants by giving notice to the holders of the Warrants by news release that the Warrants will expire on a date that is not less than 30 days from the date notice is given (the “Acceleration Right”).
The Company paid a cash commission of $208 and issued 1,000 non-transferable purchase warrants (each, a “Finder’s Warrant”) to one finder in connection with Offering. Each Finder’s Warrant entitles the holder to purchase one additional Share at a price of $0.40 per Share until November 27, 2019. The Finder’s Warrants are subject to the Acceleration Right.
All of the securities issued in connection with the Offering are subject to a statutory hold period of four months and one day.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Click here to read the full press release.