OneSoft Solutions Inc.
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OneSoft Solutions Inc.’s Subsidiary Wins Prestigious ASTech Foundation Award
Tuesday, October 30, 2018 7:00 AM
Machine Learning Solutions Recognized for Outstanding Achievement in Energy & Environmental Innovation
EDMONTON, ALBERTA / ACCESSWIRE / October 30, 2018 / OneSoft Solutions Inc. (the "Company" or "OneSoft") (TSX-V: OSS, OTCQB: OSSIF), a North American developer of cloud-based business solutions, is pleased to announce that its wholly owned subsidiary, OneBridge Solutions Inc. ("OneBridge"), won the ASTech Foundation's Outstanding Achievement in Energy & Environmental Innovation award. The Company's innovative cloud computing, Machine Learning solution conducts predictive analytics on oil and gas pipeline data to help operators achieve their objective of zero pipeline failures. OneBridge was selected from three finalists in the Energy and Environmental Innovation category, and was awarded this top honor, along with a $10,000 cash stipend, at ASTech's 29th annual NextGen Innovators Showcase ceremony held on October 26, 2018.
"We are very pleased that our innovative work to prevent pipeline failures is gaining recognition and acceptance, not only by the industry, but also by the science community," stated Tim Edward, President of OneBridge. "We would like to thank everyone who has contributed to our receipt of this special recognition, including WorleyParsons who initially nominated OneBridge for consideration for the award, Phillips 66 and Microsoft who contributed compelling support of our achievements considered by the adjudication panel, our employees who have done remarkable work to develop our solutions, our customers and industry followers who have embraced new Machine Learning and digital transformation concepts to progress their operations, and our investors who have supported us in our objective of reducing pipeline failures to save lives and protect the environment."
About ASTech Foundation
The Alberta Science and Technology Leadership (ASTech) Foundation is a not-for-profit organization founded through an industry initiative in 1989 to showcase the substantial achievements in science & technology in Alberta and to promote the importance of these activities to social and economic benefit. ASTech has grown with the support of sustaining member organizations spanning major industries – including agriculture, health, education, energy and technology – all of whom recognize and celebrate innovation and excellence in Alberta. ASTech's mission is to identify and celebrate achievements in science and technology in Alberta by creating inspiration, fostering innovation, promoting excellence, building entrepreneurship and prosperity and supporting education and training. The premiere event of its kind in Alberta, the ASTech Awards are Alberta's most prestigious science and technology honours, and bring together 500 leaders from industry, government, media and educational institutions to honour and celebrate outstanding achievement in 10 categories covering the innovation ecosystem and sector-specific categories. Each award granted is subject to a very specific set of criteria which must be met or exceeded in order for the nomination to be selected as a finalist, with determination of winners by an independent, esteemed judging panel.
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.
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SOURCE: OneSoft Solutions Inc.