Multinational Industry Leader Adopts OneSoft's CIM Solution

EDMONTON, AB / ACCESSWIRE / July 20, 2023 / OneSoft Solutions Inc. (TSX-V:OSS)(OTCQB:OSSIF) ("OneSoft" or the "Company") is pleased to announce that another pipeline operator (the "Client") has entered into a multi-year agreement with OneSoft's wholly owned subsidiary, OneBridge Solutions Inc. ("OneBridge"), to deploy the Company's Cognitive Integrity Management ("CIM") software as a service ("SaaS") solution.

Brandon Taylor, OneSoft President and COO remarked, "We are pleased that CIM was selected by another leading pipeline company, following its comprehensive RFP process to investigate alternative solutions for integrity management of its pipeline assets. This Client plans to initially deploy CIM's Assessment Planning, phase in our Integrity Compliance functionality and subsequently evaluate Threat Monitoring, Crack analysis, Internal Corrosion and Risk Management modules over the next 18 months. CIM's capability to leverage cloud computing, quality assurance and controls, vendor agnostic data formats and AI data analytics using machine learning, as well as CIM's capability to integrate with numerous proprietary in-house software solutions developed by the Client, were key technology factors considered in choosing the OneBridge solution."

"We are excited to work with this Client and believe we can help them realize significant financial savings," added Andy Florence, OneBridge Vice President of Sales. "This company has a very clear vision to optimize their in-line inspection and asset maintenance programs and understands the economic benefits that CIM can provide to achieve this objective."

About the Client

The Client is a multinational pipeline and energy company with crude oil, natural gas and natural gas liquid pipelines situated throughout Canada and the U.S.A. CIM will be deployed to assist in the Client's management of part of its natural gas transmission and midstream pipeline assets situated in the U.S.A.

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 [NASDAQ:MSFT] 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 OneBridge operating subsidiaries develop and market 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.

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Forward-looking Statements

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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.

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SOURCE: OneSoft Solutions Inc.