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Edmonton, Alberta, Canada (July 20, 2023) – OneSoft Solutions Inc. (TSX-V:OSS; OTCQB:OSSIF) (“OneSoft” or the “Company”) is pleased to announce that another pipeline operator (the “Client”) has entered into a multi-year agreement with OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc. (“OneBridge”), to deploy the Company’s Cognitive Integrity Management (“CIM”) software as a service (“SaaS”) solution.
Brandon Taylor, OneSoft President and COO remarked, “We are pleased that CIM was selected by another leading pipeline company, following its comprehensive request for proposal (RFP) process to investigate alternative solutions for integrity management of its pipeline assets. This Client plans to initially deploy CIM’s Assessment Planning, phase in our Integrity Compliance functionality and subsequently evaluate Threat Monitoring, Crack Analysis, Internal Corrosion and Risk Management modules over the next 18 months. CIM’s capability to leverage cloud computing, quality assurance and controls, vendor agnostic data formats and AI data analytics using machine learning, as well as CIM’s capability to integrate with numerous proprietary in-house software solutions developed by the Client, were key technology factors considered in choosing the OneBridge Solution.”
“We are excited to work with this Client and believe we can help them realize significant financial savings,” added Andy Florence, OneBridge Vice President of Sales. “This company has a very clear vision to optimize their in-line inspection and asset maintenance programs and understands the economic benefits that CIM can provide to achieve this objective.”
About the Client
The Client is a multinational pipeline and energy company with crude oil, natural gas and natural gas liquid pipelines situated throughout Canada and the U.S.A. CIM will be deployed to assist in the Client’s management of part of its natural gas transmission and midstream pipeline assets situated in the U.S.A.
About OneSoft and OneBridge
OneSoft has developed software technology and products that have capability to transition legacy, on-premise licensed software applications to operate on the Microsoft [NASDAQ:MSFT] Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate Data Science and Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.
OneSoft's wholly owned OneBridge operating subsidiaries develop and market revolutionary new SaaS solutions that use advanced Data Sciences and Machine Learning to analyze big data using predictive analytics to assist Oil & Gas pipeline operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs and address regulatory compliance requirements. Visit www.onebridgesolutions.com for more information.
For more information, please contact
Dwayne Kushniruk, CEO
Sean Peasgood, Investor Relations
This news release contains forward-looking statements relating to the future operations and profitability of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”, “plans” and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided to deliver information about management's current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.
In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: the impact of Covid-19 on the business operations of the Company and its current and prospective customers, the availability and cost of labor and services; the efficacy of its software; our interpretation based on various industry information sources regarding the total miles of pipeline in the USA and globally, which segments are piggable; our understanding of metrics, activities and costs regarding evaluation, inspection and maintenance is in alignment with various industry information sources and is reasonably accurate; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; that there are no unforeseen material development or other costs related to current growth projects or current operations; the success of growth projects; future operating costs; interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; the sufficiency of budgeted capital expenditures in carrying out planned activities; and no changes in applicable tax laws. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.
Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by Canadian securities law.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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