Carl Data Issues Retraction of Projected Cryptocurrency Gross Revenue

CSE:CRL
FSE:7C5
OTC:CDTAF

VANCOUVER, Jan. 17, 2018 /CNW/ - At the request of IIROC, Carl Data Solutions Inc. (CSE:CRL, FSE:7C5, OTC:CDTAF) ("Carl Data" or the "Company"), is issuing a retraction of their estimate of $250,000 annual gross revenue from their crypto currency mining project with Connected Fintech.

Readers should not rely on this disclosure due to the historical price and volatility of the price of cryptocurrency coins. There can be no assurances that the price of these coins will remain at current levels and no assurances that they can be profitably mined. The profitability of mining crypto currency will also be materially impacted by increases to hashrates.

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 agreement with Connected and the expected results of such agreement, the expected benefits of the Company's foray into the cryptocurrency mining and Blockchain spaces, including the expected increase of revenues of $250,000 per annum, the development predictive analytics and operational metrics for cryptocurrency mining, and the development of breakthrough machine to machine (M2M) transactional capabilities. Forward-looking statements are subject to a number of risks and uncertainties that may cause our actual results to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainties relating to ability to establish the cryptocurrency mining facility; the ability to successfully operate the facility; the ability to develop predictive analytics and operational metrics for cryptocurrency mining; the ability to develop breakthrough machine to machine (M2M) transactional capabilities; the ability of the Company to establish a market for its services; competitive conditions in the industry; general economic conditions in Canada and globally; the inability to secure additional financing; competition for, among other things, capital and skilled personnel; potential delays or changes in plans with respect to deployment of services or capital expenditures; possibility that government policies or laws may change; technological change; risks related to the Company's competition; the Company's not adequately protecting its intellectual property; interruption or failure of information technology systems; and regulatory risks relating to the Company's business, financings and strategic acquisitions. The information contained herein and any forward‐looking statement speaks only as of the date on which it is made and is subject to change. We disclaim any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise, except as may be required by applicable securities laws. Although we believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly, undue reliance should not be put on such statements due to their inherent uncertainty.

SOURCE Carl Data Solutions Inc.

Kimberly Bruce, Corporate Communications, Carl Data Solutions Inc., Telephone: [phone], Email: [email protected]