Canadian Pipeline Company Adopts OneBridge's Machine Learning SaaS Solution

Rhea-AI Summary

OneSoft Solutions Inc. (OSSIF) has announced a new agreement via its subsidiary OneBridge Solutions with a Canadian pipeline company to integrate its Cognitive Integrity Management (CIM) SaaS solution into the Client's operations. This Client has over 70 years of experience in pipeline management and emphasizes safety and environmental responsibility. This partnership expands OneBridge's client base internationally, with existing clients in the USA and Australia. The development signifies growth in operational capabilities and market presence.

Positive

• Secured a new client in the Canadian pipeline sector, indicating operational growth.
• Expansion of international client base with existing clients in the USA and Australia.
• CIM software aims to enhance safety, reduce operational costs, and ensure regulatory compliance.

Negative

• None.

EDMONTON, AB / ACCESSWIRE / July 29, 2021 / OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) (the "Company" or "OneSoft") is pleased to announce that its wholly owned subsidiary, OneBridge Solutions Inc. ("OneBridge"), has entered into an agreement with a Canadian pipeline company (the "Client") to integrate Cognitive Integrity Management^TM ("CIM") software-as-a-service solution into its integrity management practices for its pipeline operations.

The Client has been operating pipelines in Canada for more than 70 years, transporting refined petroleum products and connecting refineries in western and eastern regions of the country to major urban areas and local airports, with a strong commitment to operate its assets in a safe and environmentally responsible manner. The Client is independently operated and owned by several large oil companies, one of which currently uses CIM within its upstream and midstream global operations.

"The addition of this Canadian company as our latest client is indicative of our growing international footprint", said Dan Tipton, OneBridge VP of Sales. "With clients now situated in the USA, Australia and Canada, we are continuing to conduct sales initiatives directly and with our sales partners to expand CIM utilization in South America, Europe and Middle East regions."

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 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 advanced Data Sciences and Machine Learning to analyze big data using predictive analytics to 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
dkushniruk@onesoft.ca
780-437-4950

Sean Peasgood, Investor Relations
Sean@SophicCapital.com
647-494-7710

Forward-Looking Statements
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: the impact of Covid-19 on the business operations of the Company and its current and prospective customers, the availability and cost of labor 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 is reasonably accurate; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; that there are no unforeseen material development or other costs related to current growth projects or current operations; the success of growth projects; future operating costs; interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; the sufficiency of budgeted capital expenditures in carrying out planned activities; and no changes in applicable tax laws. 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.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

SOURCE: OneSoft Solutions Inc.

View source version on accesswire.com:
https://www.accesswire.com/657448/Canadian-Pipeline-Company-Adopts-OneBridges-Machine-Learning-SaaS-Solution

FAQ

What is the significance of the recent agreement by OneSoft Solutions (OSSIF)?

OneSoft Solutions has secured an agreement with a Canadian pipeline company to implement its Cognitive Integrity Management software, enhancing its operational capabilities.

How does the Cognitive Integrity Management solution benefit the pipeline industry?

The CIM solution aids in predicting pipeline failures, thus improving safety, reducing operational costs, and ensuring regulatory compliance.

Which countries does OneSoft Solutions currently operate in?

OneSoft Solutions operates in the USA, Australia, and Canada, with plans to expand further into South America, Europe, and the Middle East.

What is OneSoft's strategy regarding its software solutions?

OneSoft aims to transition legacy software to the Microsoft Azure Cloud while integrating data science and machine learning for cost-effective SaaS solutions.