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EDMONTON, AB and INDIANAPOLIS, IN / January 18, 2022 / OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) ("OneSoft") and ENTEGRA LLP ("ENTEGRA") have entered into a business arrangement ("Agreement") whereby ENTEGRA will incorporate the Cognitive Integrity Management ("CIM") software-as-a-service ("SaaS") solution developed by OneSoft's subsidiary, OneBridge Solutions Canada Inc. ("OneBridge"), as an extension of ENTEGRA's inline inspection ("ILI") and integrity services provided to its North American and international oil and gas pipeline customers.
ENTEGRA CEO, Mark Olson, stated, "Incorporation of CIM serves to advance the innovative spirit that our company is known for and will assist our experienced team of talented people to evolve and optimize integrity assessment processes through adoption of machine learning as a next generation technology for our industry. At ENTEGRA, we've made important advancements to evolve our tool technologies to capture more and better data. Teaming up with OneBridge supports our visionary approach to further enhance our expert-system, human-experience based data science with predictive analytics to incrementally optimize the high value our tools and data assessments can deliver for our customers."
Miguel Galeana, ENTEGRA's US Data Supervisor continued, "CIM streamlines the process to efficiently correlate and analyze the data we collect with our ILI tools with multiple historic ILI datasets, regardless of which tool company originally provided that data. The application of CIM and machine learning to our tool technologies and our data science will benefit our customers through more intelligent processing of the data collection and assessments to help operators better detect and prioritize pipeline integrity threats."
Tim Edward, OneBridge President added, "We thoroughly enjoyed working with Miguel and his team during extensive CIM evaluation and trial use scenarios and are very pleased that ENTEGRA, who is well-known for its visionary leadership role in advancing ILI technology for the oil and gas industry, has become the first ILI vendor world-wide to adopt CIM as an aid in providing superior services to their customers."
ENTEGRA intends to initiate data analysis projects using CIM for North American operators and subsequently extend this offering to international customers, on an as-required basis. Pursuant to the terms of the Agreement, ENTEGRA will have its own secure and dedicated access to CIM to perform data analysis and produce ILI run comparisons involving any number of historic ILI datasets, including those run previously by other ILI vendors.
ENTEGRA is a portfolio company of Houston-based Amberjack Capital, a middle market private equity firm that invests in and builds market leaders in the energy and infrastructure products and services sectors. The ENTEGRA team has been instrumental in the development and evolution of ILI, itself. Innovative new tools and technologies are at the heart of ENTEGRA's mission to optimize in-line inspection for pipeline industry stakeholders while serving as responsible industry partners and dedicated environmental stewards. For more information, call, email or visit www.ENTEGRAsolutions.com.
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 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 subsidiary, OneBridge Solutions Inc., develops and markets 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.
OneSoft Solutions Inc.
Dwayne Kushniruk, CEO
Sean Peasgood, Investor Relations
Mark Olson, President
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.
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