Carl Data Signs LOI to Acquire Connected Fintech to Further Blockchain and Fintech Data Services Development - Seite 2

Pursuant to the LOI, Carl Data and Connected have agreed to use their commercial best efforts to formulate a structure for the Acquisition that will comply with all necessary legal and regulatory requirements, minimize or eliminate adverse tax consequences and be as cost effective as possible. It is anticipated that the LOI will be superseded by a definitive agreement between Carl Data and Connected and that such agreement will include representations, warranties and covenants typical for a transaction of similar nature to the Acquisition as well as customary conditions precedent, including completion of due diligence, receipt of any required consents and approvals and Carl Data's entry into of a consulting agreement with Jay Yu, CEO of Connected, providing for Mr. Yu's continued service as President of Connected following the Acquisition.

Further details about the Acquisition will be provided in a more comprehensive press release when Company and Connected enter into a definitive agreement.

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 on the fastest growing sectors of cryptocurrency, blockchain technology, payment solutions, data intelligence, artificial intelligence (AI), machine learning and predictive analytics.

Connected currently runs one data center with two additional sites under development. Connected provides technical professionals in hardware and software who support the building of cryptocurrency data mining services and facilities. Connected is creating a portfolio of intellectual property (IP) in the space of payment solutions, cryptocurrency and blockchain technologies. http://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 http://www.CarlSolutions.com.