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U.S. Conglomerate Licenses OneSoft's SaaS for Pipeline Integrity Management; OneSoft Adds Fifth CIM Licensee

Wednesday, 20 February 2019 07:00 AM

OneSoft Solutions Inc.

EDMONTON, AB / ACCESSWIRE / February 20, 2019 / OneBridge Solutions Inc. ("OneBridge"), a wholly owned subsidiary of OneSoft Solutions Inc. (TSX-V: OSS; OTCQB: OSSIF) (the "Company" or "OneSoft") is pleased to announce that another software trial client (the "Client") has adopted OneBridge's Cognitive Integrity ManagementTM ("CIM") software-as-a-service solution for long-term use. The Client is a subsidiary of a large conglomerate that operates pipelines situated primarily in the mid-west U.S.A. and Texas.

"We have been working with this Client to develop what we believe is the most advanced cloud computing platform that leverages Machine Learning and Data Science for management of pipelines," said OneSoft President and COO, Brandon Taylor. "We look forward to continued collaboration with their team members as we continue to enhance our solutions, for the benefit of the oil and gas pipeline industry and our business."

The Client engaged in a Pilot Project using OneBridge CIM 2.0 in September, 2017 and subsequently began participating in the CIM 3.0 Private Preview program 8 months later, wherein OneBridge migrated software intellectual property provided by Phillips 66 to function as a cloud solution. The Client intends to initially operate CIM enterprise-wide in parallel with its internal systems, with a view to ultimately adopt CIM as its primary solution to manage its pipeline infrastructure later this year.

"Having previously developed an internal comprehensive on-premise software system to manage their pipelines, the Client is recognized as one of the most progressive pipeline operators in the U.S.A.," said OneBridge President, Tim Edward. "Their team has provided valuable expertise and user feedback that greatly assisted the CIM 3.0 development project, for which we are most appreciative."

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
[email protected]
(780) 437‐4950

Sean Peasgood, Investor Relations
[email protected]
(647) 494-7710

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 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.

SOURCE: OneSoft Solutions Inc.

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Company Update
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