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Edmonton, Alberta, Canada (October 18, 2018) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS; OTC:OSSIF) is pleased to announce that its wholly owned operating subsidiary, OneBridge Solutions Inc. (“OneBridge”), has reached a major milestone in releasing its next iteration of Cognitive Integrity ManagementTM software-as-a-service (“SaaS”) solution (“CIM 3.0”) for general commercial use. CIM 3.0 (previously codenamed Polaris) now allows oil and gas operators to manage the entire integrity management life cycles for their pipeline system in a SaaS solution based on Microsoft’s Azure cloud platform. On September 24th, 2018 we announced our first commercial deployment for CIM 3.0 with a Fortune 500 customer and we currently have numerous software trials in progress with pipeline operators who we anticipate will adopt the solution for long-term use.“We believe this milestone positions OneBridge as the pipeline industry’s leader of integrity management software. Our product team incorporated intellectual property we acquired from Phillips 66 and collaborated with our private preview users to ensure that CIM 3.0 will be applicable to oil and gas pipeline operators of any size, from small companies to industry super majors” said CTO Brandon Taylor. “CIM 3.0 significantly advances the digital transformation process for the pipeline industry. Operators can leverage modern cloud technology to identify regulatory compliant conditions and produce real-time business intelligence at the push of a button. More importantly, CIM 3.0 now provides an expanded foundation that enables OneBridge to evolve our mission of predicting pipeline failures to save lives and protect the environment.”OneBridge President Tim Edward added, “CIM 3.0 represents a transformational advancement that many industry experts have held for the past 25 years. The fact that CIM only needs a few hours to analyze 100% of a pipeline operator’s inline inspection data - independent of tool vendor and the countless legacy technologies used over the past few decades - is unprecedented. We sincerely acknowledge and thank those operators in our private preview programs that provided the data and feedback needed to evolve our solutions. Their subject matter expertise has been highly valuable in CIM 3.0’s development and will continue to assist us to prioritize features for future software enhancements, which we expect to update approximately every two weeks.”
About Cognitive Integrity Management 3.0
OneBridge has been working with Phillips 66 and two other pipeline operators in a private preview program and other operators through pilot programs to develop CIM 3.0 (codenamed “Polaris”), an advanced pipeline integrity management solution for industry operators, by migrating functionality from Phillips 66’s PT-DMS internally-developed software applications to a cloud-based SaaS solution the embeds OneBridge Machine Learning, Data Science and CIM 2.0 functionality. CIM 3.0 is designed to address four major areas of functionality additional to what CIM 2.0 provides: (1) assessment planning, including enterprise-level planning, scheduling and business intelligence; (2) integrity compliance, wherein internal company policy and regulatory compliance conditions for CFR 192 & 195 can be addressed with the push of a button; (3) threat monitoring, for which actionable workflow and job information for every threat is identified; and (4) business intelligence, comprised of data analytics, SQL reporting, embedded user experience using 3D visualizations, dashboards with filtering, and natural query language capability.
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 (MSFT:NASDAQ) 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 Data Science and Machine Learning to apply predictive analytics to big data, which 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, product creation revenues and profitability of the Company, the Company’s efforts to develop and commercialize the technology with the capabilities 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, its ability to complete projects to expected deadlines, 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; human capital engagement and availability, ability to access sufficient financial 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.
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