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 natural gas, oil and petrochemical
company (the “Client”). The Client, whose operations include
natural gas gathering, treating, processing, transportation and
storage, primarily in the United States, will evaluate OneBridge’s
Cognitive Integrity ManagementTM (“CIM”) SaaS solution.
MANAGEMENT COMMENTARY
“We are seeing continued traction for OneBridge’s CIM solution,”
said Tim Edward, President of OneBridge Canada. “In this case, one
of North America’s leading providers of midstream energy services
has recognized CIM’s value proposition and is now investigating CIM
in pursuit of its commitment to improve its internal processes to
detect threats to its pipeline infrastructure, through digital
transformation and machine learning. This Client is only one
of many companies investigating our new technology, as evidenced by
the high degree of interest expressed by numerous attendees that we
met at PPIM last week, the world’s largest pipeline integrity
management conference held annually in Houston.”
Brandon Taylor, CTO and President of OneBridge USA, added, “This
pilot is another tangible result of the great support that
Microsoft is contributing to help us launch our solution in the
marketplace. We continue to work together with Microsoft’s
sales teams to pursue opportunities that currently total
approximately 350,000 miles in aggregate of U.S.-based oil and gas
pipelines.”
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 that uses CIM on an ongoing basis to generate
recurring revenues in accordance with the Company’s
software-as-a-service (“SaaS”) business model.
ABOUT THE CLIENT
The Client is a USA-based company which, together with its
publicly traded partnerships, is a leading North American provider
of midstream energy services to consumers of natural gas, natural
gas liquids (“NGLs”), crude oil, refined products and
petrochemicals. The Client currently has an asset base that exceeds
$50 billion, due to expansions from organic growth opportunities
and acquisitions. Its operations include multiple NGLs, crude
oil and natural gas storage facilities, refineries, processing
plants, comprehensive terminal and transportation systems, natural
gas marketing and an extensive list of petrochemical and refined
products and services. The Client’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 and classify the data, and align all
features to calculate anomaly growth rates. Using OneBridge
proprietary Pattern Detection and Interacting Threats data science
algorithms, the solution 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 data science and machine learning
algorithms, and predictive analytics applied to structured and
unstructured big data on a highly scalable level to provide
pipeline companies with the functionality they require to safely
operate, manage and maintain their pipeline infrastructure as smart
assets. The OneBridge CIMTM solution is deployed as a SaaS
application leveraging Data Science, Azure Machine Learning,
Microsoft Power BI Embedded and other components of the Microsoft
Azure: Cloud Platform and Services.
ABOUT ONESOFT SOLUTIONS 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 (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.
OneBridge develops and markets revolutionary new SaaS solutions
that use data science and Machine Learning and predictive analytics
applied to big data for the Oil & Gas pipeline industry, which
assists 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, CEOdkushniruk@onesoft.ca(780) 437‐4950
Sean Peasgood, Investor RelationsSean@SophicCapital.com(416)
565-2805
FORWARD-LOOKING STATEMENTS
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 Phillips
66’s ability to use the technology, as described, 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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