Vancouver, British Columbia--(Newsfile Corp. - March 23, 2026) - Carrier Connect Data Solutions Inc. (TSXV: CCDS) (OTCQB: CCDSF) (WKN: A40XB1) (the "Company" or "Carrier") is pleased to announce that the Company, through its wholly owned subsidiary, Carrier Connect Systems Ltd., has entered into a non-binding letter of intent (the "LOI") with Morewave Communication Inc. ("Morewave"), a leading provider of network connectivity solutions and last mile connectivity services.
Morewave provides last mile network and connectivity to data center clients primarily based out of Vancouver and extending through Western Canada. These services are of great value to Carrier and its clients, as it allows for more immediate and simplified delivery of internet connectivity solutions for Carrier's clients.
Morewave is currently generating approximately $725,000 in annual recurring revenue with a profit margin of more than 25%. Upon successful completion of the transaction, Carrier's topline revenue is expected to grow by 15 to 20% immediately. The expansion of the network offering across Carrier's other data centers is expected to drive further growth in the revenue of Carrier.
Pursuant to the terms of the LOI, the Company will, among other things, acquire, through its wholly owned subsidiary, the business assets that deliver networking services and connectivity solutions owned and/or operated by Morewave (the "Proposed Acquisition"). In consideration for the Proposed Acquisition, the Company will pay $750,000 in such number of common shares in the capital of the Company (the "Consideration Shares"), that in the aggregate is worth $750,000, to Morewave upon closing. The Consideration Shares will be escrowed and released by four equal tranches at 6, 12, 18 and 24 months following closing.
The Proposed Transaction will be an arm's length transaction. No finder's fees are payable by either the Company or Morewave in connection with the Proposed Acquisition.
The parties anticipate entering into a definitive agreement (the "Definitive Agreement") by no later than May 1, 2026 and completing the Proposed Acquisition shortly thereafter. The Proposed Acquisition is subject to a number of conditions, including but not limited to, the parties successfully entering into the Definitive Agreement, the receipt of all necessary approvals, and certain other closing conditions, including the completion of satisfactory due diligence by the Company.
Mark Binns, Chief Executive Officer of Carrier, commented, "The acquisition of Morewave's network services immediately unlocks a valuable new revenue stream for Carrier, by allowing us to sell network connectivity and services to our entire client base, across our full portfolio of data centers. This is a highly profitable line of business employed by data center portfolios held across different geographies, and we are thrilled to add this capability and corresponding revenue driver."
About Carrier Connect Data Solutions Inc.
Carrier Connect Data Solutions' mission is to roll up Tier II/III data centers internationally that specialize in delivering co-location and data center solutions to AI companies, service providers, enterprises and small businesses. Data centers are the physical locations that store computing machines and their related hardware equipment, such as servers, data storage drives, and network equipment. As a carrier-neutral organization, Carrier's systems are fully independent and owned outright within its leased space. The current principal markets for the Company are Vancouver, Ottawa and Saint John, Canada and Perth, Australia, where it serves clients who use its facilities either as their primary data center or as an ancillary site depending on their needs.
ON BEHALF OF THE BOARD OF DIRECTORS
"Mark Binns"
Mark Binns, CEO
For further information, please contact:
Attention: Mark Binns, CEO
Email: mark@carrierconnectds.com
Phone: 778-945-1074
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Such forward-looking statements or information are provided to inform the Company's shareholders and potential investors about management's current expectations and plans relating to the future and include, but are not limited to, (i) expectations regarding closing times, and receipt of necessary approvals; (ii) expectations concerning the Company's ability to close the Proposed Acquisition and the acquisition of Morewave's assets, including the timing thereof; (iii) the outcomes of its due diligence investigations regarding Morewave and the terms of the LOI, including any changes to the structure of the Proposed Acquisition or the acquisition of the assets and the ability of the Company to realize the benefits of the assets it intends to acquire; and (iv) expectations regarding the Company's business plans and operations.
Forward-looking statements or information are based on a number of factors and assumptions that have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.
Forward-looking information also involves known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, reliance on key management and other personnel, and the risk factors with respect to the Company set out in the Company's filings with the Canadian securities regulators and available under the Company's profile on SEDAR+ at www.sedarplus.ca.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
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Source: Carrier Connect Data Solutions Inc
