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 collaborative work agreement with
WorleyParsons, a global professional services company, to deliver
solutions for Canadian oil and gas pipeline operators that
integrates OneBridge’s Cognitive Integrity ManagementTM (“CIM”)
Software-as-a-Service (“SaaS”) solution with high value engineering
services, to assist clients in predicting hazardous pipeline
failures.
“Digital transformation is a trend that is beginning to occur
within the oil and gas pipeline industry,” said Tim Edward,
President of OneBridge Canada. “Through this arrangement, we plan
to target Canadian clients first, then expand to Australia, Mexico
and other select global markets. We expect to offer a joint
solution that will enable Tier 1, 2 and 3 clients to better manage
and maintain their pipeline infrastructure.”
“Our objective with CIM is to redefine how operators determine
threats to pipelines, by using sophisticated machine learning and
data science methodologies,” said Brandon Taylor, CTO of OneBridge.
“Unlike current technology and processes in use by the industry
today, CIM easily scales by using Microsoft Azure to analyze big
data, and can detect threats more accurately, faster and more cost
effectively.”
We intend to use Pilot Programs to demonstrate the high value
proposition to clients, similar to the Pilot Program model
OneBridge and Microsoft are currently deploying to engage US
pipeline operators. Subsequently, the parties’ intent is to provide
joint clients with OneBridge’s future version of CIM,
“Polaris”, which OneBridge is currently developing
with Phillips 66 Company [PSX:NYSE].
ABOUT WORLEYPARSONS
WorleyParsons delivers projects, provides expertise in
engineering, procurement and construction and offers a wide range
of consulting and advisory services.
WorleyParsons is listed on the Australian Securities Exchange
[ASX: WOR]. Further information about WorleyParsons is available on
the Internet at www.worleyparsons.com and www.advisian.com.
ABOUT POLARIS
OneBridge has teamed up with Phillips 66 Company to develop
Polaris, which involves migrating Phillips 66’s
pipeline management software to a cloud solution that will
incorporate OneBridge’s data science and machine learning
technology. Polaris will provide comprehensive, end-to-end
functionality typically required by oil and gas pipeline operators
to manage the complete lifecycle of an integrity management
program. Polaris is designed to include multiple components,
including assessment planning, cognitive analysis, workflow
management, regulatory compliance, certain financial metrics,
reporting and audit controls and advanced business intelligence
with 3D visualizations to present information in a highly intuitive
manner.
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 (NASDAQ “MSFT”) Cloud, in
conjunction with Office 365, 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.
The Company’s wholly owned subsidiary, OneBridge Solutions Inc.,
develops and markets revolutionary new SaaS solutions that use data
science and Machine Learning to conduct predictive analytics on big
data for the Oil & Gas pipeline industry to assist 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 technology with certain 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 Company’s securities 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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