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Edmonton, Alberta, Canada (May 21, 2020) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V: OSS, OTCQB: OSSIF),
ANNUAL AND GENERAL SPECIAL MEETING OF THE SHAREHOLDERS
The Company would like to thank all who attended the OneSoft Annual General and Special Meeting (“AGSM”) of the Shareholders held on May 20, 2020. All resolutions stated in the Management Information Circular sent to shareholders in advance of the AGSM were passed, including the re-election of Doug Thomson, Dwayne Kushniruk, Ron Odynski and Randy Keith as Directors of the Company for the ensuing year. Due to the Covid-19 pandemic, the ASGM was held virtually over the internet for the first time in the Company’s history, which resulted in greater attendance by shareholders than in prior years. Dwayne Kushniruk, CEO, provided an update on Fiscal 2019 and Q1 2020 operations, which presentation can be accessed on the Company’s website at www.onesoftsolutions.ca or via this link.
GRANT OF STOCK OPTIONS
On May 20, 2020, following the AGSM, 800,000 stock options were granted to the Directors, Officers, and senior executives of the Company as part of their compensation plans. All options granted have a strike price of $0.50 per share, vest 50% on each of the grant and anniversary dates and will expire in five years if not exercised.
ON BEHALF OF THE BOARD OF DIRECTORS
ONESOFT SOLUTIONS INC.
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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: 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; 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 costs of performing pipeline evaluation, inspection and maintenance in the USA are representative of those in the rest of the world, are reasonably accurate; 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 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 fo
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