Mr. Mark Binns reports

CARRIER CONNECT DATA SOLUTIONS SIGNS DEFINITIVE AGREEMENT TO ACQUIRE NETWORK CONNECTIVITY AND DELIVERY ASSETS FROM MOREWAVE COMMUNICATION

Carrier Connect Data Solutions Inc., through its wholly owned subsidiary, Carrier Connect Systems Ltd., has entered into a definitive asset purchase agreement with Morewave Communication Inc., a leading provider of network connectivity solutions and last-mile connectivity services.

Morewave provides last-mile network and connectivity to data centre clients primarily based out of Vancouver and extending through Western Canada. These services are of great value to Carrier and its clients as they allow 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 per cent. Upon the successful closing of the transaction, Carrier's top-line revenue is expected to grow by 15 to 20 per cent immediately. The expansion of the network offering across Carrier's other data centres is expected to drive further growth in the revenue of Carrier.

Pursuant to the terms of the agreement, 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. In consideration for the proposed acquisition, the company will issue 560,000 common shares in the capital of the company to Morewave. The consideration shares will be escrowed and released in four equal tranches at six, 12, 18 and 24 months following closing.

The proposed transaction is an arm's-length transaction. No finders' fees are payable by either the company or Morewave in connection with the proposed acquisition. The closing of the proposed acquisition is subject to certain customary closing conditions, including, but not limited to, the acceptance of the TSX Venture Exchange.

About Carrier Connect Data Solutions Inc.

Carrier's mission is to roll up Tier 2/3 data centres internationally that specialize in delivering co-location and data centre solutions to artificial intelligence companies, service providers, enterprises and small businesses. Data centres 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 which use its facilities either as their primary data centre or as an ancillary site depending on their needs.

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