PointMan Adopted by IAMGOLD to Improve Safety Operations

Rhea-AI Summary

ProStar Holdings Inc. (MAPPF) has announced that IAMGOLD Corporation has adopted its flagship software, PointMan, to enhance safety in mining operations. IAMGOLD's Vice President emphasized the importance of safety and utility mapping for employee and environmental protection. This partnership is seen as a significant milestone for ProStar, expanding its reach into the mining industry. ProStar specializes in Precision Mapping Solutions and has a strong intellectual property portfolio, including 20 patents.

Positive

• Partnership with IAMGOLD enhances ProStar's market presence.
• PointMan addresses critical safety concerns in mining operations.
• ProStar has a robust intellectual property portfolio with 20 issued patents.

Negative

• None.

GRAND JUNCTION, Colo., Jan. 05, 2023 (GLOBE NEWSWIRE) -- ProStar Holdings Inc. ("ProStar®" or "the Company") (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a world leader in Precision Mapping Solutions®, is pleased to announce that multinational gold mining company, IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (“IAMGOLD”), has adopted ProStar’s flagship software application, PointMan to improve its safety operations.

“We take great pride in taking every measure possible to ensure the safety of our employees and the environment. Safety is at the forefront of all our mining operations,” stated Philippe Gaultier, Vice President of Development Projects at IAMGOLD. “By adopting PointMan, we feel confident that we are implementing a world-class utility mapping solution that will provide us the ability to identify any utility infrastructure that is buried in the ground, which can be a serious concern in terms of worker and environmental safety as well as operational costs.”

IAMGOLD employs approximately 5,000 people globally and is committed to maintaining its culture of accountable mining through high standards of Environmental, Social, and Governance ("ESG") practices, including its commitment to Zero Harm®, in every aspect of its business. 

“Having a global mining company like IAMGOLD adopt PointMan into their mining operations is a major milestone for us,” stated Page Tucker, CEO of ProStar. “Not only does it open the door to another global industry, but it also proves that PointMan addresses the growing concern of not knowing where buried utilities are located, a problem that adversely impacts the safety of the public, the worker, and the environment in a multitude of industries.” 

ABOUT IAMGOLD
IAMGOLD is a mid-tier gold mining company operating in North America, South America and West Africa. The Company has three operating mines: Essakane (Burkina Faso), Rosebel (Suriname) and Westwood (Canada), and is building the large-scale, long life Côté Gold project (Canada) which is expected to commence production in early 2024. In addition, the Company has a robust development and exploration portfolio within high-potential mining districts in the Americas and West Africa.

IAMGOLD is listed on the New York Stock Exchange (NYSE: IAG) and the Toronto Stock Exchange (TSX: IMG) and is one of the companies on the Jantzi Social Index ("JSI"), a socially screened market capitalization-weighted consisting of companies which pass a set of broadly based environmental, social and governance rating criteria.

To learn more about IAMGOLD, visit: www.iamgold.com

About ProStar:
ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies. ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface.

ProStar’s PointMan is offered as a Software as a Service (SaaS) and seamlessly connects the field with the office and provides the ability to precisely capture, record, display, and manage critical infrastructure, including roads, railways, pipelines, and utilities. Some of the largest entities in North America have adopted ProStar’s solutions, including Fortune 500 construction firms, Subsurface Utilities Engineering (SUE) firms, utility owners, and government agencies. ProStar has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and dealer networks.

The Company has made a significant investment in creating a vast intellectual property portfolio that includes 20 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines. ProStar’s Executive management team has extensive experience in the management of both early-stage and Fortune 500 technology companies in the private and public sectors.

For more information about ProStar, please visit www.prostarcorp.com.

On behalf of the Company,
Page Tucker on sales / corporate news releases, CEO and Director
Contact:
Joel Sutherland
Investor Relations
970-822-4792
Investorrelations@prostarcorp.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company’s future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Company’s recent Annual Management’s Discussion & Analysis filed on SEDAR on April 14, 2022, for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through the Company’s issuer page on SEDAR at www.sedar.com.

FAQ

What is the significance of IAMGOLD adopting ProStar's PointMan software?

IAMGOLD's adoption of PointMan signifies enhanced safety and utility mapping in mining, marking a key milestone for ProStar.

How does ProStar's PointMan improve mining operations?

PointMan improves mining operations by facilitating the identification of buried utility infrastructure, crucial for worker safety.

What is ProStar Holdings' stock symbol?

ProStar Holdings is traded under the stock symbol MAPPF.

What industry does ProStar Holdings operate in?

ProStar Holdings operates in the Precision Mapping Solutions industry, focusing on critical infrastructure management.