Carrier Connect Data Solutions closes $10.5 million private placement

Carrier Connect Data Solutions Inc. (TSXV: CCDS) (OTCQB: CCDSF) completed a brokered private placement raising gross proceeds of $10.5 million through the sale of 6,562,500 units priced at $1.60 per unit.

The offering was co-led by Canaccord Genuity Corp. and Beacon Securities Limited. Each unit consists of one common share and one-half of one common share purchase warrant. The warrants allow holders to purchase one common share at $2.10 until February 26, 2028.

The Vancouver-based company paid the underwriters an aggregate cash commission of $625,500 and issued 390,937 agents' warrants. Each agents' warrant enables the purchase of one common share at $1.60 until February 26, 2028.

Carrier Connect plans to use the net proceeds for acquisitions, debt repayment, capital improvement and data center expansions, marketing and staffing, and general corporate purposes. The offering remains subject to final approval from the TSX Venture Exchange.

The units were issued to purchasers in Canada, excluding Quebec, and other qualifying jurisdictions outside Canada under prospectus exemptions. The securities are not subject to a statutory hold period under Canadian securities laws, though the agents' warrants carry a four-month-plus-one-day hold period.

Chief Executive Officer Mark Binns stated the financing completion demonstrates confidence in the company's business model and growth plans for 2026.

Carrier Connect operates as a data center company focused on acquiring Tier II and III data centers internationally. The company provides co-location and data center solutions to artificial intelligence companies, service providers, enterprises and small businesses. Its current operations are located in Vancouver, Ottawa and Perth, Australia.

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