JC Data Solutions and TerraData.ai Announce Closing of Combination
On July 6, 2021, JC Data Solutions, Inc. (OTC: JCDS) announced the completion of its acquisition by TerraData.ai through an all-cash merger. Each share of JCDS common stock was converted to $0.0012 in cash, resulting in JCDS becoming a private, wholly owned subsidiary of TerraData.ai. The shares of JCDS will no longer be listed on OTC markets. JC Data Solutions has been recognized for its services that have significantly benefited the oil and gas sector, particularly through its Payment Manager service.
- Acquisition by TerraData.ai provides JCDS with potential for enhanced operational capabilities.
- TerraData.ai's focus on technology may lead to improved service offerings for JCDS.
- JCDS shareholders receive only $0.0012 per share, which may be seen as a loss compared to potential future value.
- JCDS will no longer be traded publicly, limiting liquidity for former shareholders.
AUSTIN, Texas, July 6, 2021 /PRNewswire/ -- JC Data Solutions, Inc. (OTC: JCDS) and TerraData.ai today announced that Terradata.ai has closed its acquisition of JCDS via an all cash merger.
At the effective time of the merger, each share of JCDS common stock was converted into the right to receive
As a result of the completion of the merger, shares of JCDS will no longer be listed on the OTC markets and JCDS is a private, wholly owned subsidiary of TerraData.ai.
About JC Data Solutions
JC Data solutions has been a leader in the funds and document distribution industry. Their premier service, Payment Manager, has saved Oil & Gas companies thousands and thousands of dollars - all while improving and streamlining their funds distribution process.
About TerraData.ai
Mineral Answers, Inc. (DBA TerraData.ai) is a technology company focused on aggregating real property information to provide models, insights and highly configurable visualizations, specializing in real property, oil and gas and alternative energy information.
Forward-Looking Statements
This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. Forward-looking statements are those that use terms such as "may," "will," "expect," "believe," "intend," "should," "could," "anticipate," "estimate," "forecast," "project," "plan," "predict," "potential," and similar expressions. Forward-looking statements contained in this and other written and oral reports are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors.
The Company's forward-looking statements are subject to risks and uncertainties and are not guarantees of future performance, and actual results, developments and business decisions may differ materially from those envisaged by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; the outcome of any legal proceedings that may be instituted against the Company related to the Merger Agreement; the inability to complete the transaction due to the failure to obtain the required vote or the failure to satisfy other conditions to completion of the transaction, including the receipt of all regulatory approvals related to the transaction; the disruption of management's attention from the Company's ongoing business operations due to the transaction; the effect of the announcement of the transaction on the Company's relationships with its customers, operating results and business generally; the effects of local and national economic, credit and capital market conditions. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The statements made herein are made as of the date of this disclosure and the Company undertakes no obligation to update them, whether as a result of new information, future developments or otherwise.
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SOURCE Mineral Answers, Inc.
FAQ
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