OneSoft Grants Stock Options

Rhea-AI Summary

OneSoft Solutions Inc. has granted 200,000 stock options to newly appointed board member R. David Webster at a strike price of $0.56 per share. The options will vest in two phases: 50% upon grant and 50% on the anniversary. These options will expire in five years if not exercised. OneSoft specializes in software solutions transitioning applications to the Microsoft Azure Cloud platform and aims to utilize data science and machine learning for cost-effective, subscription-based services, particularly for oil and gas pipeline operators.

Positive

• Granting 200,000 stock options could align the director's interests with those of shareholders.
• Focus on transitioning software to Microsoft Azure positions OneSoft for growth in cloud services.

Negative

• Reliance on forward-looking statements introduces uncertainty about future profitability.
• Potential risks include competition and the ability to access sufficient capital.

EDMONTON, AB / ACCESSWIRE / June 25, 2021 / Further to the appointment of R. David Webster to the OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) ("OneSoft") Board of Directors as was announced on June 24, 2021, OneSoft has granted 200,000 stock options to R. David Webster, in accordance with the Company's compensation plan for Directors. The stock options granted have a strike price of $0.56 per share, vest 50% on each of the grant and anniversary dates, and will expire in five years if not exercised.

About OneSoft and OneBridge
OneSoft has developed software technology and products that have capability to transition legacy, on-premises 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 Canada 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.

OneSoft
Dwayne Kushniruk, CEO
dkushniruk@onesoft.ca
587-416-6787

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/653145/OneSoft-Grants-Stock-Options

FAQ

What stock options were granted by OneSoft Solutions Inc.?

OneSoft granted 200,000 stock options to R. David Webster at a strike price of $0.56.

When will the stock options for R. David Webster vest?

The stock options will vest 50% upon grant and 50% on the anniversary.

What is OneSoft Solutions Inc.'s business focus?

OneSoft focuses on transitioning legacy software to the Microsoft Azure Cloud and developing SaaS solutions utilizing data science.

What risks does OneSoft acknowledge in their press release?

Risks include competition, reliance on forward-looking statements, and capital access challenges.

What is the expiration period for the granted stock options?

The stock options will expire in five years if not exercised.