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Edmonton, Alberta, Canada (December 5, 2017) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS, OTC:OSSIF) is pleased to announce that its wholly owned subsidiary, OneBridge Solutions, Inc. (“OneBridge”), has entered into a Pilot Program agreement with another U.S. based, Fortune 500 petroleum company, whose operations include refineries, retail marketing and transportation of oil and gas products (the “Client”), for evaluation of OneBridge’s Cognitive Integrity ManagementTM (“CIM”) SaaS solution.“This Pilot Project confirms that another Tier 1 pipeline operator has recognized the value proposition of CIM and has committed to further explore CIM’s capabilities,” said Tim Edward, President of OneBridge Canada. “The initial feedback we’ve received is very positive, as this Client is highly committed to enhance and improve their internal systems and processes to detect threats to their pipeline infrastructure, in pursuit of a zero-failure objective.”Brandon Taylor, CTO and President of OneBridge USA, added, “Since embarking upon marketing and sales initiatives with Microsoft in September 2017, we have identified potential sales opportunities involving approximately 375,000 miles of pipeline in the U.S. operated by Microsoft customers who are also OneBridge prospects. These miles represent a significant subset of the initial target market we are pursuing and we are encouraged by this first tangible result from our collaborative sales efforts with Microsoft.”The initial revenue associated with this contract is a nominal fixed fee which recovers OneBridge costs associated with the project. OneSoft’s objective is to retain this Client as a commercial customer who uses CIM on an ongoing basis to produce recurring revenues as is expected from the Company’s SaaS business model.About the ClientThe Client is a USA-based company, which together with its subsidiaries, is one of the largest petroleum product refiners, marketers and transporters in the United States. Its operations include multiple refineries, comprehensive terminal and transportation systems, extensive wholesale divisions and one of the largest chains of company-owned and operated retail gasoline and convenience stores within the USA. The Company’s major projects include significant investments in software and technology to streamline operations, reduce costs and provide for future growth.
About the CIM Pilot Project
Pursuant to the terms of the arrangement, OneBridge will normalize the Client’s inline inspection (“ILI”) data for segments of its pipeline, ingest the data, map certain shape and ILI files, and align anomalies and calculate their growth rates. Using OneBridge proprietary Pattern Detection and Interacting Threats machine learning algorithms, the program is designed to detect threats using Predictive Analytics, while providing advanced business intelligence, graphical presentations, and reporting of the data that assists clients 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.OneBridge utilizes proprietary Machine Learning algorithms, a single geo-spatial database, and predictive analytics applied to structured and unstructured big data on a highly scalable level that cannot practically be replicated through manual efforts, to provide pipeline companies with the functionality they require to safely operate, manage and maintain their pipeline infrastructure as smart assets. The OneBridge Cognitive Integrity ManagementTM solution is deployed as a software as a service (“SaaS”) solution leveraging Data Science, Azure Machine Learning, HoloLens, Microsoft Power BI Embedded and other components of the Microsoft Azure: Cloud Platform and Services.
About OneSoft Solutions Inc
.OneSoft Solutions Inc. has developed software technology and products that have capability to transition legacy, on-premise licensed software applications to operate on the Microsoft (NASDAQ: MSFT) Cloud, in conjunction with Office 365, CRM Online, Microsoft BI and Microsoft Azure Machine Learning. OneSoft’s business strategy is to seek opportunities to convert legacy business software applications that are historically cumbersome to deploy and costly to operate, to a more cost-efficient subscription-based business model utilizing the Microsoft Azure: Cloud Platform and Services, with accessibility through any internet capable device. Visit www.onesoft.ca for more information. ON
BEHALF OF THE BOARD OF DIRECTORS
ONESOFT SOLUTIONS INC
.Douglas Thomson Chair
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 for the purpose of delivering 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: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the efficacy of its software, the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. 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 as a result 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.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
OneSoft Solutions Presenting at the SNN Network Virtual Investor Conference on Monday, August 3, 2020
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