ONESOFT SOLUTIONS INC - OSSIF STOCK NEWS

OneSoft Solutions shareholders have approved the acquisition by irth Solutions at a special meeting held on October 24, 2024. The transaction, valued at approximately CDN $113.4 million, will see irth acquire all outstanding OneSoft shares for $0.88 per share in cash. The resolution received strong support with 92.3% of voted shares in favor, representing 77.3% of total outstanding shares. Final court approval is scheduled for November 1, 2024, after which OneSoft shares will be delisted from TSX Venture Exchange upon transaction completion.

OneSoft Solutions Inc. (TSX-V:OSS) announced the receipt of an interim order from the Court of King's Bench (Alberta) for its proposed acquisition by irth Acquisition Corp., a subsidiary of irth Solutions The arrangement involves irth acquiring all outstanding OneSoft shares for C$0.88 per share in cash, representing a 42% premium to the closing price on August 9, 2024, and a 28% premium to the 20-day volume-weighted average trading price.

A special meeting of shareholders will be held on October 24, 2024, to vote on the arrangement. The Board of Directors unanimously recommends shareholders vote FOR the arrangement, citing attractive consideration, certainty of value, immediate liquidity, and transaction certainty as key reasons. The arrangement is expected to close around October 30, 2024.

OneSoft Solutions Inc. (TSXV:OSS, OTCQB:OSSIF) reported Q2 2024 financial results:

• Revenue increased 24% to $3.1 million
• Gross profit up 25% to $2.4 million
• Net loss widened to $615,000
• Adjusted EBITDA loss narrowed to $17,300

The company announced a binding agreement to be acquired by Irth Solutions for $0.88 per share, valuing OneSoft at approximately CDN$113 million. The all-cash deal represents a 42% premium to OneSoft's closing price on August 9, 2024. The transaction is expected to close in Q4 2024, subject to shareholder and regulatory approvals.

OneSoft Solutions Inc. (TSXV:OSS, OTCQB:OSSIF), a North American cloud-based business solutions developer, has announced the release date for its Q2 2024 financial results. The company plans to disclose the results before market open on Wednesday, August 28, 2024. Following the release, OneSoft will host a live webinar at 11:00am ET on the same day.

The webinar will feature CEO Dwayne Kushniruk, CFO Paul Johnston, and President & COO Brandon Taylor. They will review the results, provide company updates, and answer investor questions. Interested parties can join via webcast or telephone, with dial-in numbers provided for both Canadian/USA and international participants.

OneSoft Solutions Inc. (TSX-V:OSS) has entered into an Arrangement Agreement with irth Solutions , a Blackstone portfolio company, for a $113 million acquisition. Shareholders will receive $0.88 per share, representing a 42% premium to the closing price on August 9, 2024. The transaction, expected to close in Q4 2024, has been unanimously recommended by the Board of Directors. The deal offers shareholders an attractive premium and full liquidity, while Irth aims to leverage OneSoft's team and technology to advance both companies' operations. The transaction requires shareholder, court, and regulatory approvals. Upon closing, OneSoft shares will be delisted from TSX-V and OTCQB.

OneSoft Solutions announced that its subsidiary, OneBridge Solutions, has integrated API 1163 In-line Inspection (ILI) System Qualifications Level 2 and Level 3 into its Cognitive Integrity Management (CIM) software. API 1163, an industry standard for pipeline performance, is now part of US regulations for gas and hazardous liquid pipelines. This update allows OneBridge to perform ILI system performance validation quickly, incorporating guidelines and tools from the Pipeline Research Council International (PRCI). This new feature saves significant time compared to traditional methods and is available to all CIM users at no extra cost. The integration aims to enhance the reliability, accuracy, and safety of pipeline inspections.

OneSoft Solutions has secured its first South American client, a major pipeline operator in Colombia, for its OneBridge subsidiary's Cognitive Integrity Management (CIM) software-as-a-service (SaaS) platform. The client, a leading midstream pipeline operator, manages nearly 9,000 kilometers of oil and polyducts, essential for Colombia's crude and refined products transport. This multi-year agreement marks a significant expansion of OneSoft's international customer base. The implementation will commence shortly, involving a notable international consulting firm to aid in onboarding, aiming to establish a foothold for future sales in South and Central America.

OneSoft Solutions (TSXV:OSS, OTCQB:OSSIF) held its Annual General and Special Meeting (AGSM) on May 28, 2024, achieving a quorum with 108 shareholders present or represented by proxy, amounting to 57.39% of shares. Key resolutions from the Management Information Circular were approved. Post-meeting, 800,000 stock options were awarded to Directors, Officers, and senior executives, each priced at $0.70, with a five-year expiration and vesting 50% on the grant and anniversary dates.

OneSoft Solutions Inc. reported a 32% increase in Q1 2024 revenue compared to Q1 2023. Gross profit grew by 40%, and gross margin improved to 74.8%. The company's net loss rose by $77,000 due to higher costs. Adjusted EBITDA increased by $135,000. Cash reserves surged by 65% to $8 million.

The company expanded its cloud-based CIM platform, launching new modules and hiring key personnel. Despite administrative delays in signing new contracts, the company expects to meet its 2024 revenue guidance of $15-$16 million. Management remains optimistic about ongoing projects and future customer acquisitions.

OneSoft attended industry events, increasing its market presence and continuing business development efforts, including M&A activities. No changes have been made to the fiscal 2024 guidance despite some Q1 revenue shortfalls.