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OneSoft Adds Fifth CIM Licensee
Edmonton,Alberta, Canada (February 20, 2019) – OneBridge Solutions Inc. (“OneBridge”), a wholly owned subsidiary of OneSoftSolutions Inc. (TSX-V:OSS; OTCQB:OSSIF) (the “Company” or “OneSoft”) is pleased to announce that another softwaretrial client (the “Client”) has adopted OneBridge’s Cognitive IntegrityManagementTM (“CIM”) software-as-a-servicesolution for long-term use. The Client is a subsidiary of a large conglomerate thatoperates pipelines situated primarily in the mid-west U.S.A. and Texas.
“We havebeen working with this Client to develop what we believe is the most advancedcloud computing platform that leverages Machine Learning and Data Science for managementof pipelines,” said OneSoft President and COO, Brandon Taylor. “We look forwardto continued collaboration with their team members as we continue to enhanceour solutions, for the benefit of the oil and gas pipeline industry and our business.”
TheClient engaged in a Pilot Project using OneBridge CIM 2.0 in September, 2017and subsequently began participating in the CIM3.0 Private Preview program 8 months later, wherein OneBridgemigrated software intellectual property provided by Phillips 66 to function as acloud solution. The Client intends to initially operate CIM enterprise-wide inparallel with its internal systems, with a view to ultimately adopt CIM as its primarysolution to manage its pipeline infrastructure later this year.
“Havingpreviously developed an internal comprehensive on-premise software system tomanage their pipelines, the Client is recognized as one of the most progressivepipeline operators in the U.S.A.,” said OneBridge President, Tim Edward. “Their team has provided valuable expertiseand user feedback that greatly assisted the CIM 3.0 development project, forwhich we are most appreciative.”
AboutOneSoft and OneBridge
OneSoft has developed softwaretechnology and products that have capability to transition legacy, on-premiselicensed software applications to operate on the Microsoft (MSFT:NASDAQ)Azure Cloud Platform. Our businessstrategy is to seek opportunities to incorporate Data Science and MachineLearning, business intelligence and predictive analytics to createcost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca formore information.
OneSoft’s wholly owned subsidiary,OneBridge Solutions Inc., develops and markets revolutionary new SaaS solutionsthat use Data Science and Machine Learning to apply predictive analytics to bigdata, which assist Oil & Gas pipeline operators to predict pipelinefailures and thereby save lives, protect the environment, reduce operationalcosts and address regulatory compliance requirements. Visit www.onebridgesolutions.com formore information.
For more information, please contact
Dwayne Kushniruk, CEO
Sean Peasgood, Investor Relations
This news release contains forward-looking statements relating tothe future operations, product creation revenues and profitability of the Company,the Company’s efforts to develop and commercialize the technology with thecapabilities 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” andsimilar expressions. Any statements that are contained in this news releasethat are not statements of historical fact may be deemed to be forward-lookingstatements. Such forward-looking information is provided for the purpose ofdelivering information about management's current expectations and plansrelating to the future. Investors are cautioned that reliance on suchinformation may not be appropriate for other purposes, such as makinginvestment decisions.
In respect of the forward-looking information and statements, theCompany has placed reliance on certain assumptions that it believes arereasonable 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 ofbudgeted capital expenditures in carrying out planned activities; theavailability and cost of labour and services; the efficacy of its software, itsability to complete projects to expected deadlines, the success of growthprojects; future operating costs; that counterparties to material agreementswill continue to perform in a timely manner; that there are no unforeseenevents preventing the performance of contracts; and that there are nounforeseen material development or other costs related to current growthprojects or current operations. Accordingly, readers should not place unduereliance on the forward-looking information contained in this press release.Since forward-looking information addresses future events and conditions, suchinformation by its very nature involves inherent risks and uncertainties.Actual results could differ materially from those currently anticipated due tomany factors and risks. These include, but are not limited to, the risksassociated with the industries in which the Company operates in general suchas: costs and expenses; interest rate and exchange rate fluctuations;competition; human capital engagement and availability, ability to accesssufficient financial capital from internal and external sources; and changes inlegislation, including but not limited to tax laws.
Readers are cautioned that the foregoing list of factors is notexhaustive. Forward-looking statements contained in this news release areexpressly qualified by this cautionary statement. The forward-lookingstatements contained in this news release are made as of the date of this newsrelease, and the Company undertakes no obligation to update publicly or torevise any of the included forward-looking statements, whether as a result ofnew information, future events or otherwise, except as expressly required byCanadian securities law.
This news release does not constitute an offer to sell or thesolicitation of an offer to buy any securities within the United States. Thesecurities to be offered have not been and will not be registered under theU.S. Securities Act of 1933, as amended, or any state securities laws, and maynot be offered or sold in the United States absent registration or anapplicable exemption from the registration requirements of such Act or otherlaws.
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