OneSoft on Q1 2020 Company Performance, Impact of COVID-19/Oil Price Volatility and Goals for 2020

SNNLive caught up with Dwayne Kushniruk, CEO of OneSoft Solutions, Inc. (TSX-V: OSS) (OTCQB: OSSIF), via Zoom to discuss (Click the time stamp to jump to each answer, or watch it all):

LD MicroCap

OneSoft Solutions Inc. Reports Results of Virtual Annual General and Special Meeting of Shareholders and Grant of Stock Options

Edmonton, Alberta, Canada (May 21, 2020) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V: OSS, OTCQB: OSSIF),

ANNUAL AND GENERAL SPECIAL MEETING OF THE SHAREHOLDERS

The Company would like to thank all who attended the OneSoft Annual General and Special Meeting (“AGSM”) of the Shareholders held on May 20, 2020. All resolutions stated in the Management Information Circular sent to shareholders in advance of the AGSM were passed, including the re-election of Doug Thomson, Dwayne Kushniruk, Ron Odynski and Randy Keith as Directors of the Company for the ensuing year. Due to the Covid-19 pandemic, the ASGM was held virtually over the internet for the first time in the Company’s history, which resulted in greater attendance by shareholders than in prior years. Dwayne Kushniruk, CEO, provided an update on Fiscal 2019 and Q1 2020 operations, which presentation can be accessed on the Company’s website at www.onesoftsolutions.ca or via this link.

GRANT OF STOCK OPTIONS

On May 20, 2020, following the AGSM, 800,000 stock options were granted to the Directors, Officers, and senior executives of the Company as part of their compensation plans. All options granted have a strike price of $0.50 per share, vest 50% on each of the grant and anniversary dates and will expire in five years if not exercised.

ON BEHALF OF THE BOARD OF DIRECTORS

ONESOFT SOLUTIONS INC.

Douglas Thomson

Chair    

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: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour 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 costs of performing pipeline evaluation, inspection and maintenance in the USA are representative of those in the rest of the world, are reasonably accurate; the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. 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 fo

OneSoft Solutions Inc. Reports Q1 2020 Results

183% Quarter-over-Quarter Revenue Increase, Positive Adjusted EBITDA, Positive Net Income, Strong Balance Sheet

Edmonton, Alberta, Canada (May 19, 2020) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V: OSS, OTCQB: OSSIF), a North American developer of cloud-based business solutions, is pleased to announce results for the financial quarter ended March 31, 2020 (Q1 of Fiscal 2020). Please refer to the interim unaudited condensed Consolidated Financial Statements and Management’s Discussion and Analysis (“MD&A”) for the three months ended March 31, 2020 filed on SEDAR at www.sedar.com for more information.

Financial summary for Q1 ended March 31, 2020

The following table summarizes the first quarter ended March 31, 2020, compared to March 31, 2019:

Financial summary for Q1 ended March 31, 2020

  • Total revenue for the quarter ended March 31, 2020 (“Q1 2020”) was $1,675,486, a 183% increase over revenue of $592,302 in the comparative quarter of the prior year. Revenue consisted of $1,616,267 of annual recurring revenue (“ARR”) and $59,219 of Other Revenue, representing increases of 180% and 284%, respectively, over the comparative quarter.
  • Comprehensive income was $10,609 versus a Comprehensive loss of $967,391 for the comparable period in the prior year.
  • Adjusted positive EBITDA was $250,478 compared to negative EBITDA of $669,729 for the comparable period in the prior year.
  • On March 31, 2020, cash and short-term investments were $9.7 million ($10.5 million on December 31, 2019), working capital was $8.6 million ($8.2 million on December 31, 2019) and the Company has no debt.
  • OneSoft tracks revenues in three categories and various buckets, as was described on pages 9-10 of the Company’s Management Discussion and Analysis (“MD&A”) for the fiscal year ended December 31, 2019:
    • ARR includes revenue from SaaS Subscription, ILI Log Ingestion, Microsoft Azure and Specialized Functionality Module fees associated with the Company’s Cognitive Integrity ManagementTM (“CIM”) SaaS solution.
      • Other Revenue includes Proof of Concept (“POC”) and services revenue that typically is non-recurring.
      • There was no Software development project revenue in the current or comparative quarters.

The following chart summarizes some of the key financial revenue metrics followed by Management, with comparisons to prior periods, as described in the December 31, 2019 MD&A referenced above.

Operational Highlights for Q1 ended March 31, 2020

Highlights for Q1 include the following:

  • On February 13, 2020, the Company announced its Innovation Lab to collaborate with Microsoft [NASDAQ:MSFT], oil and gas (“O&G”) pipeline operators and select industry vendors. Innovation Lab, which is separate from the Company’s core operations, seeks to fast-track the creation and scaling of new ideas to advance digital transformation agendas through the Company’s revolutionary machine learning and data science technology using Microsoft’s Azure cloud computing platform and services. We are now investigating various potential business development alternatives with certain clients, prospective customers and industry experts and vendors, which may result in future joint initiatives that broaden the Company’s CIM functionality, intellectual property (“IP”) and total addressable market (“TAM”) potential.
  • On February 18, 2020, the Company announced the appointment of a senior O&G industry veteran as its new VP Sales, who will lead sales and marketing activities focused on senior personnel of our clients who typically drive digital transformation initiatives within their organizations.
  • On February 24, 2020, the Company attended PPIM 2020, the industry’s primary annual forum devoted exclusively to pigging for maintenance and inspection, pipeline integrity evaluation and repair, and presented (see video) a white paper profiling Statistical Analysis of Dig Operations to pipeline industry professionals. This white paper documents the high-value proposition of utilizing CIM to improve Repair Fraction effectiveness by optimizing dig selection criteria as part of integrity management processes.
  • The Company essentially completed the on-boarding processes in Q1 2020 for the new clients who adopted CIM in 2019, which contributed $0.709 million of revenue and reduced deferred revenue by the same amount.
  • Regarding product development, the Company continued to advance its SaaS products, IP and competitive moat during the quarter, including development of functionality that is considered foundational for future new products that we anticipate will address the segments of O&G pipeline infrastructure that are managed using Direct Assessment processes (rather than through collection of ILI data).
  • The Company continued to engage in various POCs with potential new clients in Q1 2020, which were in various stages of progress but not completed at the quarter end. The Company’s sales funnel is increasing and remains robust, with sales activities currently underway involving prospective new clients that collectively operate more than 100,000 miles of pipeline infrastructure.

Business Outlook

Business Disruption Due to Covid-19

While the extent of future potential business disruption due to Covid-19 cannot be known with any degree of certainty Management anticipates that business will be disrupted for at least part of 2020, but not overly threatening to the Company’s longer-term business and outlook. We believe that OneSoft is well-positioned to deal with this unusual business disruption as most of our clients and prospective customers have by now implemented procedures using on-line and video conferencing tools to minimize negative impacts caused by travel restrictions and lack of usual access to people, data and other resources they require to operate their businesses. We do not anticipate slow-down of product development or inability to service our clients, as our cloud-computing environment insulates us from the quarantine and disruptive work scenarios that have hampered businesses that depend on on-premise computing platforms and conventional office environments.

Our sales and business development activities started to return to a new “near normal” in mid-April, after prospective customers transitioned their business activities to on-line. We believe that Covid-19 may be a catalyst for future sales because some of our prospective customers now have a new appreciation for cloud computing and digital strategies that empower their employees to access critical data on-line using any web-connected device, especially while working remotely. Although we have encountered some delays in signing new clients, we anticipate that sales activities proceeding under the “new normal” conditions will ultimately be successful. Although timing and recognition of the revenue is unknown and not in our control, we expect to complete new sales in 2020.

Regulatory Influence on OneSoft Future Sales is Positive

The global O&G pipeline infrastructure continues to age, and regulatory compliance for U.S. operators in particular, where OneSoft is currently focusing sales efforts, is becoming more stringent as mandated by the U.S. regulator, the Pipeline and Hazardous Materials Administration (“PHMSA”). We believe that existing regulatory and revised compliance requirements that will apply in the future are becoming more opportunistic for OneSoft. The new “Mega Rule” was scheduled to take effect on July 1, 2020 but some requirements were relaxed to December 31, 2020 in response to Covid-19 disruptions. The Mega Rule mandates, amongst other requirements, that pipeline operators adopt more sophisticated ILI data management and analyses capability, which is squarely in CIM’s sweet spot to address. More pipeline infrastructure will need to be operated within federal compliance standards in the future, including requirements to adopt ILI data analyses for these pipelines. Additionally, certain pipeline inspection and maintenance standards and operating guidelines pertaining to ILI data management and analysis that were only recommended practices in the past will become mandatory to maintain regulatory operational compliance in the future.

Pursuit of New Visions and Opportunities Through OneBridge Innovation Lab

The Company announced establishment of its Innovation Lab in February 2020, to collaborate with clients, prospective customers and industry experts and vendors in pursuit of new visions and opportunities.  We are investigating projects with several third parties with the objective of advancing them to a proof of concept stage, and potentially to full product development and commercialization. These projects have the potential to increase the Company’s total addressable market and generate incremental revenue by adding new functionality to the CIM platform and by launching CIM technology into new industries.

Sales and Revenue

Our highest priority in 2020 is to sign new clients using our “land and expand” growth strategy to expand our foundation and opportunity to increase future revenues. Management anticipates that ARR will double in 2020 over 2019, as a result of some current clients increasing use of our solutions by on boarding their regional affiliate operations, and through addition of new clients.  Management’s key objective is to focus on growing annual recurring revenue, as we believe this metric is a key factor used in determining the value of SaaS companies.

Corporate Development and Outlook

Management will continue to focus on increasing shareholder value, by advancing the Company’s intellectual property and by addressing the multiple factors that we believe enhance value for shareholders of SaaS companies. We will continue to improve awareness of our Company and investment opportunity by increasing our participation in various on-line investor and industry conferences, road show events (when those become practical to resume) and other initiatives that target Canadian and U.S. investors, particularly with those who have specific interest in microcap companies that focus on artificial intelligence, machine learning, SaaS, and environmental, social and governance themes.

Given the Company’s strong balance sheet with $9.7 million of cash and short-term investments, no debt, current cash burn rate and strong sales pipeline, we believe the Company is well-funded to pursue our business and strategies, with no requirement to raise additional capital.

Please refer to the MD&A for the quarter ended March 31, 2020 filed on SEDAR for further information and details.

NOTE:  OneSoft Solutions Inc. will hold its Annual and Special Meeting of shareholders on Wednesday, May 20, 2020 at 1:00 p.m. (Edmonton time; 3:00 p.m. Eastern Time) via webcast at https://global.gotowebinar.com/register/224279867 and telephone access at (647) 497-9386 using access code 922-536-798. Shareholders who wish to attend should plan to log in and register 15 minutes prior to the start of the meeting.

ON BEHALF OF THE BOARD OF DIRECTORS

ONESOFT SOLUTIONS INC.

Douglas Thomson

Chair     

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: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour 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 costs of performing pipeline evaluation, inspection and maintenance in the USA are representative of those in the rest of the world, are reasonably accurate; the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. 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.

Responses to Questions from Attendees of the Planet MicroCap Showcase Virtual Investor Conference held on April 22, 2020

The following questions were asked by attendees of the Planet MicroCap Showcase Virtual Investor Conference held on April 22, 2020. Management is providing responses to the questions asked, for which insufficient time during the meeting was allotted to respond.

All information discussed herein has been previously disclosed in public filings, including the Management Discussion and Analysis and Financial Statements for the year ended December 31, 2019 and/or in prior publicly disclosed documents filed on SEDAR.

We consider the responses made herein to be reasonable, but caution the reader that these responses include assumptions regarding future events, many of which are beyond our control, and may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect us. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities regulation. Readers are encouraged to review future disclosures on SEDAR and the www.onesoft.ca website to keep updated as to the Company’s progress.

May 4, 2020

OneSoft Solutions Inc.

1. Where would you like to be in 3 to 5 years in terms of sales? What is your long term goal?

We expect to double 2019 revenue in 2020 and thereafter hope to continue this pace of revenue growth in the foreseeable future, as we believe that CIM may reach a tipping point for disruption of the legacy systems that are being used today.

2. Your share structure is really getting up there……… any comments on a reverse split with a meaningful catalyst to support the new higher price? You don’t want the share price to drift down again.

We’re mindful of our capital structure and review it at every Board meeting. We have 114 million shares issued and outstanding with 9 million options outstanding. A reverse share split to consolidate shares is something that we constantly review, since a smaller share count and higher share price would likely be attractive to U.S. institutions. Note that insiders of our company own a big piece of the company, so we’re focused on building a recurring revenue, high-margin business rather than promoting stock. As we succeed with growing the business, we believe the stock price will take care of itself, and given the uncertainty and volatility in the markets, we believe this is the right approach to creating real value for investors.

Broadly speaking, we anticipate that 2020 and 2021 will be strong from a business development perspective – i.e., addition of new clients and industry joint venture projects that are expected to bolster CIM platform use. This could support corporate development initiatives in the future, potentially including the reorganization of share structure and elevating the Company to trade on a major exchange when timing is right.

3.     When do you expect to have a complete product for the non-piggable part of the market?

To recap, a PIG is a device that is inserted into pipelines to collet data as the oil or gas pushes it along. This inline inspection (ILI) data is what our machine learning solution, called Cognitive Integrity Management (or CIM), analyzes to predict pipeline failures. In the U.S., there are about 660,000 miles of piggable and 2.1 million miles of non-piggable pipelines.

The latter segment needs to be managed based on various other data sets that exclude ILI data. We raised $9.2 million in April 2019 to accelerate R&D of new software products, including functionality to address the non-piggable market segment. Such development commenced in H2 of 2019 and we continue to work on these projects with expectation to start commercializing components of this new functionality by the end of 2020.

4.     What seems to be the headwinds why you can’t convert pilot programs to revenue customers? P66 has been with you for quite awhile and thought others would follow.

Disruption of processes used for decades represent significant changes for large companies, which requires time and patience to work through. Lengthy sales cycles may continue for a while longer, but we expect them to shorten as our solution gains more

validity and traction in the marketplace, and as potential clients gain more insight regarding digital transformation. We are not in control of timing of our clients. We have pivoted our sales approach to experiment with onboarding smaller projects, rather than focusing on company-wide adoption of our solution, which we believe may reduce sales cycles (i.e., our land and expand strategy).

Sales cycles with our current clients have varied between 1 and 3 years. Onboarding clients in 2019, particularly the larger operators, provided great insight regarding the challenges they encounter as they transition to new systems and processes, and how we can streamline processes to scale addition of new clients. One of the biggest issues is that employees involved with implementation of new systems often get pulled away to handle other high priority tasks, which slows the on-boarding process significantly. Secondly, issues regarding finding, organizing and loading of the historic data that has been collected over decades have been consistent challenges amongst our clients. To address these issues, we developed tools during H2 of 2019 to streamline and automate the onboarding process and revamped our role in the onboarding process, so that we can now essentially implement the software without dependence on the client’s participation, other than to have them point us where to find the historic data. Using this new approach, we believe that we can now reduce the onboarding process from months to weeks and streamline the client’s involvement in the process to training only, once CIM is up and running within their organization.

About 60 enterprise level pipeline operators manage the vast majority of the U.S. pipeline infrastructure – this is the group that we have targeted to date, and more specifically, the companies within this group that have proclaimed a digital transformation strategy to move to the cloud. When we started sales efforts in 2017, before digital transformation was embraced by the industry, we found that 6 to 12 months was typically added to the sales cycle, just to explain the advantages of digital transformation and cloud computing. Today, we have sharpened our sales focus to work only with companies that already understand these benefits. Those that don’t are referred to Microsoft, who dispatch their sales teams to convince the IT and C-suite teams from potential customers regarding the benefits of digital transformation, prior to our employees expending sales efforts regarding CIM. For the enterprise level companies that have engaged a digital transformation strategy, our sales team works collaboratively with Microsoft sales personnel, focusing on IT and C-suite executives who are driving digital transformation initiatives within their companies. We anticipate that this pivot in our sales strategy will shorten sales cycles by focusing on the enterprise players who understand and want digital transformation, and who will serve to validate our solutions for the rest of the market players.

The new onboarding tools that we developed are highly important for the other 20% of the

U.S. industry, which consists of about 1,800 tier 2 and tier 3 companies. We anticipate that the new onboarding tools will eventually accommodate a self-service SaaS business model, to support self- and consultant-onboarding of CIM, essentially streamlining the sales and implementation processes and creating a platform to expand our technology into other markets (e.g., municipal water and sewer).

5.     Is it accurate that pipeline operators have long term contracts so the recent decline in oil prices won’t impact them? How much money will your customers save using your solution vs their current practices?

Yes, this is our understanding. We have not seen any negative impact to our business thus far from reduced oil prices. In fact, we believe that constrained budgets could help our business because of the high value proposition our solution provides by increasing efficiencies and reducing costs, as further explained in our “Repair Fraction” white paper that was published and presented to the industry in February, 2020.

6.     Of the 51k miles contracted…what % has been onboarded?

While all 51,000 miles under contract now generates base subscription revenue, operators vary in how quickly they load data for all their pipeline segments. Our experience so far indicates that operators have taken between 6 and 18 months to load all of their data onto CIM and implement their entire pipeline infrastructure. Refer to page 11 of our Fiscal 2019 MD&A for further information about how revenue builds by client.

7.     What is your cash burn? Great presentation thank you

As of December 31, 2019, we had about $10.5 million of cash and no debt. Cash burn in 2019 was about $2.5 mm (average $634k per quarter). Based on our sales activity we expect this metric to improve in 2020, and do not have any concern about having sufficient cash to execute our business plans as envisioned during the foreseeable future.

8.     I haven’t seen you sign up any new customers in a long time. Why, and when do you expect to announce some new ones?

We expect to announce new clients in 2020, but timing is unknown as this is not in our control.

We had a lot of momentum going into PPIM in February 2020, the U.S. pipeline industry’s premier annual event. At that conference services providers, PIG vendors and prospective customers spent time at our booth talking about proof of concept projects and joint-venture initiatives, based on our CIM platform. The end of February was the last time we were able to have in-person meetings. Covid-19 then abruptly ceased progress for the next month or so, as businesses were scrambling to determine how to mitigate the impact to their operations. Activities have since returned to a new “near normal” regarding sales and business development progression through use of on-line rather than face-to-face meetings. So although we’ve encountered some delays, it appears that we are back doing what needs to be done to progress sales activities.

9.     How has the transition from working at home been going for your current clients?

First, let me discuss OneSoft’s situation with respect to the impact of Covid to our business operations. Even before Covid, and dating back to 2015, all of our employees worked remotely from home offices, except for our CFO and Controller who work from a shared

office facility. Many of our corporate meetings and communications before Covid were held through on-line video conferencing, so we haven’t experienced the disruption most other businesses have.

An interesting side observation is that we are one of the few companies that continues to be hiring new employees (we currently are recruiting for 4 open positions), within a personnel environment that has changed dramatically in the past couple of months. The talent pool from which to select new employees has increased in the past couple of months because, we suspect, Covid has caused termination of projects that has freed up talent we are seeking. The pandemic has had minimal disruption to our ability to service our clients, and following the month or so of delays we encountered in March we have recently seen a return to more normal sales and business development activities. We believe this is because the people we need to communicate with required some time to organize on-line meeting capability to replace conventional face to face meetings, but have now incorporated this change.

The Covid disruption amongst our clients and prospective customers is mixed. Our clients, who already adopted our cloud computing solutions have essentially been able to transition seamlessly from conventional office to home working environments. This contrasts with most of the prospective customers we are engaged with, who have generally encountered more difficulty in transitioning their employees to work from home-based offices.

Interestingly, Covid may potentially be a catalyst that helps motivate future sales, because many of our prospective customers now have an abrupt new appreciation for how cloud computing can enable their employees to work effectively from home offices, as a result of having capability to access critical data using any web-connected device.

10.  Have you seen greater demand for your platform with the recent decline in crude prices? Would imagine a catalyst right now is process efficiency now more than ever.

Volatility of oil and gas price does not appear to have a direct effect on our business in the same way it affects the upstream and downstream segments of the industry. Transportation of oil and gas (the midstream segment) is still required, irrespective of energy prices, and our clients typically have long term contracts that preserve their revenue streams for transporting products that are not energy-price dependent.

Following the 2008 global economic recession, our understanding is that pipeline operators normally entered into long-term transportation contracts with their own customers – the oil and gas producers – in order to secure stable revenues and cash flows. We also understand that in some cases pipeline operators need to keep product flowing in order to preserve lease rights, which is more crucial than temporarily reducing throughput during periods of low energy prices.

And a highly compelling factor that supports our opportunity within the U.S. is that PHMSA, the U.S. pipeline regulator, mandates that pipeline data must be collected on piggable pipelines every 5 or 7 years at minimum, for liquids and gas lines, respectively. In addition, PHMSA’s new “mega-rule” is scheduled to take effect July 1, 2020, which further bolsters our opportunity, as more pipeline will be required to be operate in accordance with federal

regulations that call for enhanced data collection and analyses capability, which CIM addresses. Overall, we believe that our Company is fairly well insulated from the volatility pricing of oil and gas and well-positioned to be the vendor of choice as regulatory operating requirements are enhanced.

11.  You have a number of pricing structures in your annual information filings. (a) What seems to be the most popular choice? (b) What is the agreement with Phillips 66 after 10 years? (c) How are you thinking about all the non piggable pipelines in context of your software development? (d) Do you have interest globally at this stage?

We have developed various pricing structures in response to what clients and prospective customers have asked for. We anticipate that some clients may start with one pricing structure for a small segment of their pipelines and later adopt a different pricing structure, as they onboard more pipeline data. We are focused on increasing initial adoptions of CIM, thus attempt to remove all the barriers to this objective. The various pricing structures assist in doing this, and we have high confidence that clients who commence using CIM for a portion of their pipeline will see value in onboarding all of their pipelines. In short, the different pricing structures support our “sign new logos” and “land and expand” strategies.

Clients like Phillips 66 will need to retain some sort of integrity management processes beyond the duration of contracts we have entered into. We have high confidence that with our first mover advantage and committed strategy to continued focus on new product development we will be able to maintain and extend our competitive moat, and thereby extend client relationships. It is neither practical or probable that clients will abandon our advanced machine learning/data science technology and return to using legacy processes and systems that do not deliver CIM-type capability. In short, we believe that our clients will remain with us, providing we continue to advance our solutions.

We have aggregated more data than anyone else we are aware of at this point, which provides opportunity to leverage learnings from this data that can be applied to all pipelines, including those for which inline inspection data has not been gathered. We are already working on new solutions for the 2.1 million miles of pipeline that falls under “Direct Assessment” U.S. regulatory mandates, which we anticipate will start to roll out as commercial solutions in 2020.

We are already involved in sales activities outside of the U.S. Two of our current clients have plans to implement CIM in their subsidiaries within other countries, and we are actively pursuing potential sales in various countries including Argentina, Brazil, Australia and Middle East regions, both directly, and collaboratively with Microsoft international sales teams and other O&G industry vendors.

12.  Where do you see our business in the next 10 years? Will oil & gas still be viable at that point? Or will it be replaced by other clean energy? If so, what will you do to navigate our company to avoid that judgement day?

Most pundits agree that oil and gas energy will still be required for the next 30 years at minimum, irrespective that new energy sources are being developed. During this time pipeline infrastructure globally, which is ever-aging, will need to be maintained to ensure reliability and in accordance with regional regulatory requirements that apply. In some jurisdictions such as the U.S. these are becoming more stringent. Our belief is that we expect to be busy with the O&G pipeline market for decades.

We also believe that our technology can be adapted for municipal water & sewer, and potentially railroad/rail transit industries. We have recently commenced investigation of the municipal water market, which closely resembles the O&G pipeline market (i.e., steel pipes that corrode, and inspection tools are used to collect snapshots of data).

13.  Can you disclose who are the other pipeline operator customers beyond Phillips?

We are prevented from disclosing our client names because of confidentiality terms we agreed to when contracting these clients.

While we can’t make these disclosures, I would note that potential customers, particularly within the U.S. and Canada, are generally quite well aware of the companies that have adopted CIM, as this information is often shared at various industry conferences and meetings. During the past year, we haven’t had need to include history/background of our Company in sales meetings, as prospective customers we are now meeting with understand who we are and what we do, as a result of peer to peer discussions about our company and technology.

14.  (a) How many miles of pipeline in total is the company managing? (b) And at which point will the company turn a profit?

We currently have 51,000 miles under multi-year contracts, and more than 100,000 miles in our sales pipeline.

We did post a small profit for the period ended December 31, 2018, but decided to raise more capital to fund acceleration of R&D and new product development in April 2019 to increase our competitive moat, rather than focus on bottom line profits. We believe that we can create higher value for shareholders by advancing our first mover advantage, signing new logos and increasing recurring revenues, which is the metric that generally governs SaaS company valuations. We believe that new client additions are key to future opportunities, as it is highly probable that they will ultimately onboard our solutions for all of their pipeline segments once they experience the value proposition of using CIM. This justifies the relatively low introductory pricing models and incurrence of onboarding costs for new clients. While these strategies contribute to increased costs in the short term, they set the stage for greater recurring, profitable business in the longer term.

15.  What is the Philips 66 royalty rate, what is the cap and when do you anticipate having paid it off?

This information is confidential, as required to comply with our agreement and for competitive reasons. The royalty is capped, which provides us the option of retiring the obligation whenever we choose to. We do not consider royalty expense to be material, relative to revenues that we expect to occur over time.

16.  Is there seasonality in recurring revenues? Why was the Q4 quarter down on the Q2 quarter in 2019?

We anticipate quarterly revenues to continue to be somewhat lumpy over the next year as one of the major revenue components, associated with loading of inline inspection data sets onto CIM, is dependent on clients’ timing. I suggest that you review the Fiscal 2019 year- end MD&A published on SEDAR to understand the revenue components and revenue recognition factors discussed in the document. One of the important factors to monitor is the “Deferred revenue” recorded on our balance sheet, which typically represents pre-paid consumption of CIM by clients, as expected to unfold during the ensuing year. We anticipate that timing to load inline inspection data sets onto CIM will continue to vary by client, thus revenue recognition will vary accordingly.

17.  Do you have enough cash to continue operations for the next 12 months? Is there any plan to raise additional capital and/or cause even further shareholder dilution?

Cash burn in 2019 was ~$2.5 million, and we expect this to improve in 2020. With $10.5 million in cash, and no debt, we believe we have sufficient cash to execute our business plans as currently envisioned, without requirement to raise additional capital.

OneSoft Solutions to Present at the Planet MicroCap Showcase Virtual Investor Conference 2020 on April 22, 2020

EDMONTON, AB / April 16, 2020 / OneSoft Solutions Inc. (the “Company” or “OSS”) (TSX-V:OSS, OTCQB:OSSIF), a North American developer of cloud-based business solutions, today announced that CEO Dwayne Kushniruk will be presenting at the Planet MicroCap Showcase 2020 on Wednesday, April 22 at 1:00 PM EST. Mr. Kushniruk will also host virtual 1-on-1 investor meetings throughout the day.

To access the live presentation, please use the following information:

Planet MicroCap Showcase Virtual Investor Conference 2020

Date: Wednesday, April 22, 2020
Time: 1:00 PM Eastern Time (10:00 AM Pacific Time)
Webcast: https://www.webcaster4.com/Webcast/Page/2059/34196

“We had a great year in 2019 during which we onboarded new clients, completed several software projects to enhance our solution, more than doubled recurring revenue over the prior year and significantly strengthened our balance sheet,” said OneSoft’s CEO Dwayne Kushniruk. “Our investigations in February at PPIM, our largest global conference, reaffirmed our belief that our solutions represent leading technology in our marketplace, with no direct competitors. Our innovative machine learning approach, combined with the extensive learnings we’ve aggregated by analyzing data from tens of thousands of miles of pipeline and more than 50 million features, continues to widen our competitive moat. Our sales pipeline remains very strong, bolstered by new U.S. regulatory requirements scheduled to take effect in mid-2020 which mandate pipeline operators to inspect more pipeline infrastructure and improve their data collection and analyses processes. I’d like to thank Planet MicroCap for hosting this online Showcase event which helps OneSoft to communicate, during this disruptive time, the status of our operations and prospects going forward.”

How to Book A Virtual Meeting with OneSoft Solutions

If you would like to book a 1-on-1 investor meeting with Mr. Kushniruk, please make sure you are registered for the virtual event here:
https://www.planetmicrocapshowcase.com/signup

1-on-1 meetings will be scheduled and conducted via private, secure video conference through the conference event platform.

If you can’t make the live presentation, all company presentations “webcasts” will be available directly on the conference event platform on this link under the tab “Schedule”: https://www.planetmicrocapshowcase.com/presenting-companies

About Planet MicroCap Showcase

Planet MicroCap Showcase brings together promising companies with well-known and influential microcap, investors, fund managers and newsletter writers for three days of company presentations, one-on-one meetings, and networking.

If you would like to attend the Planet MicroCap Showcase, please register here: https://planetmicrocapshowcase.com/signup

News Compliments of ACCESSWIRE.

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: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour 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 costs of performing pipeline evaluation, inspection and maintenance in the USA are representative of those in the rest of the world, are reasonably accurate; the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. 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.

OneSoft Solutions Inc. Reports Financial Results for the Year ended December 31, 2019

CIM Revenue More Than Doubles Year-over-Year; Balance Sheet Remains Very Strong

EDMONTON, AB / March 26, 2020 / OneSoft Solutions Inc. (the “Company” or “OSS”) (TSXV:OSS)(OTCQB:OSSIF), a North American developer of cloud-based business solutions, provides a business update and announces its financial results for the year ended December 31, 2019. Please refer to the Audited Consolidated Financial Statements, Management’s Discussion and Analysis (“MD&A”) and the Annual Information Form for the year ended December 31, 2019 filed on SEDAR at www.sedar.com for more information. Unless otherwise stated, all dollar amounts are Canadian dollars.

Note to reader: Effective in 2018, the Company changed its financial year-end from February 28 to December 31. The change in year-end resulted in the Company filing a one-time, ten-month transition year financial statement covering the period of March 1, 2018 to December 31, 2018. Subsequent to the transition year, the Company’s financial year is January 1 to December 31.

FINANCIAL RESULTS

(in $,000)’s, per share in $Year ended December
2019
Ten months ended
December 2018
Increase /
(Decrease)
 $$%
Revenue2,7124,328(37.3)
    
Gross Profit2,0104,143(51.5)
Comprehensive (loss) income(3,585)2951,316.3
Weighted average common shares
outstanding – basic (000)’s
108,974100,725 
Weighted average common shares
outstanding – diluted (000)’s
108,974105,120 
Per share:   
Comprehensive income (loss) – basic(0.03)0.00 
Comprehensive income (loss) – diluted(0.03)0.00 
    
Cash and short-term investments10,5122,015421.6
Working capital8,2212,419239.8

“2019 was a pivotal year for OneSoft, from several perspectives,” said Dwayne Kushniruk, CEO of OneSoft. “Recurring revenue more than doubled this year, we on-boarded four new clients, enhanced our IP, and strengthened our balance sheet significantly. Client satisfaction with our solutions is high, sales processes with potential new customers are actively underway and our sales funnel continues to grow. We have aggregated what we believe to be the industry’s widest and most integrated pool of integrity data coupled with vendor and technology-agnostic inline inspection results. This allows clients to leverage their historic asset and inline inspection data to make better data-driven decisions and potentially save millions of dollars in operational costs. We believe OneSoft is well-positioned, with first mover advantage and a strong competitive moat based on machine learning, data science and cloud computing on Microsoft’s Azure platform, to continue to increase our lead in assisting industry players with digital transformation.”

Mr. Kushniruk continued, “With the recent disruption of business caused by Covid-19, we are now witnessing some advantages of digital transformation for the industry. Interactions with our clients that have included CIM in their digital strategies confirm that they have been able to seamlessly shift to remote operations, allowing employees to access their systems and data in a secure manner while working from the safety of their homes. We look forward to the continued growth of our business in 2020 and sincerely thank all of our employees, clients and stakeholders for supporting our vision and objectives.”

HIGHLIGHTS OF FISCAL 2019

Highlights for Fiscal 2019 include the following:

  • Total revenue in Fiscal 2019 was $2.7 million, of which $2.5 million was annual recurring revenue (as defined in Fiscal 2020 Revenue Components on page 9 of the MD&A), more than double the $1.1 million annual recurring revenue generated in the ten months ended December 2018. In 2018, $3.0 million was earned from completing a software development project and no similar revenue occurred this year.
  • The increase in revenue occurred as a result of increasing the Company’s client count, from two as at December 31, 2018 to six clients as at December 31, 2019 that have entered into multi-year software-as-a-service (“SaaS“) usage agreements. The clients include one independent pipeline operator, four Fortune 500 companies and one industry Super-major1 who collectively operate 51,000 miles of oil and gas (“O&G“) pipeline infrastructure and now utilize the Company’s Cognitive Integrity ManagementTM (“CIM“) SaaS solution as the foundation for their pipeline integrity management processes.
  • OneSoft closed a bought deal financing on April 25, 2019 which generated $8.4 million (net of financing expenses) that is being used to accelerate business growth and research and development initiatives designed to increase the Company’s competitive moat. Approximately 75% of the capital raise was subscribed to by institutional investors.
  • Cash and short-term investments at Fiscal 2019 year-end increased to $10.5 million, from $2.0 million at December 31, 2018, giving the Company sufficient cash to execute its current business plan. The Company has no debt and $8.2 million of working capital.
  • The Company made significant progress in advancing its research and development (“R&D“) roadmap by developing and adding new software functionality and enhancements requested by users; a “Dig Management” software module which increases the footprint usage of CIM for clients; initial structure for Direct Assessment (pipelines for which inline inspection (“ILI“) data is not gathered); other enhancements to accommodate regulatory and security requirements and new tools to automate and scale on-boarding of new clients.
  • 3,922 inline assessments were ingested into CIM during Fiscal 2019, resulting in 142 new learnings of dig selection criteria and more than 52 million features, across all data analyzed to date. Active client users of CIM who typically spend most of their workday in the application increased from approximately 20 in 2018 to 167 in 2019.

1 Super-majors are considered to be the seven largest oil and gas pipeline companies world-wide.

HIGHLIGHTS SUBSEQUENT TO YEAR-END FISCAL 2019

The Company presented a “Repair Fraction” white paper at the Pipeline Pigging and Integrity Management (“PPIM“) conference held in Houston, Texas in February, 2020, the oil and gas pipeline industry’s primary global forum devoted exclusively to pigging for maintenance, inspection and integrity evaluation and repair. The Company was invited to present its first quantifiable study outlining the value proposition of clients using CIM, which demonstrates that the Repair Fraction of excavations for pipeline repairs identified by CIM can be greatly improved over determinations made by legacy solutions, thereby resulting in significant potential cost savings for pipeline operators.

BUSINESS OUTLOOK

Management believes that Fiscal 2019 was a successful year for OneSoft, from both operational and corporate perspectives. We doubled annual recurring revenues from 2018 (10 months) to 2019 (12 months), tripled our client base, developed new software functionality that increased our credibility and footprint in our market and developed tools to scale and automate the on-boarding of future clients. We also strengthened our balance sheet through a capital raise, enabling the Company to capitalize on its first mover advantage and increase our competitive moat. The combination of $10.5 million of cash and short-term investments on hand at Fiscal 2019 year end, no debt, $8.2 million in working capital, increasing and sticky annual recurring revenues and a strong sales pipeline collectively serve to support the Company’s growing future opportunities and reduces risk for shareholders as the business matures.

Based on the comprehensive validation processes conducted by high-profile clients who on-boarded in 2019; communications with prospective customers who are currently investigating or engaged in proof of concept trials; and numerous interactions with other industry professionals and vendors, we believe that awareness and credibility of our Company and CIM platform are continuing to gain momentum within the U.S. oil and gas pipeline industry. Management is focusing efforts to meet Fiscal 2020 objectives as follows.

From a revenue and sales perspective:

  • Our highest priority in 2020 is to sign new clients in pursuit of our “land and expand” growth strategy, as this effort will serve to increase our data ingestion and iterations of our algorithms, expanding our foundation and opportunity to increase revenues over the longer term.
  • We anticipate that annual recurring revenue will again double year over year in 2020, as a result of some of our current clients increasing use of our solutions by on-boarding their regional affiliate operations, and through addition of new clients.

From a research and development (“R&D”) perspective:

  • With respect to maintaining our technological lead and competitive moat with machine learning IP, we intend to continue research and development of new modules for our CIM platform to increase our footprint of functionality that will support pipeline operators’ requirements and initiatives as they pursue digital transformation strategies.
  • To supplement our internal R&D efforts we intend to seek collaborative joint projects for our Innovation Lab with select clients, industry associations and third party industry vendors, to identify new synergistic white space opportunities to augment our intellectual property based on leveraging our machine learning, data science and cloud computing expertise.
  • We intend to continue to aggregate big data to advance our algorithms, increase our database of learnings for the industry and investigate potential new alternatives to monetize such learnings.
  • Based on our investigations at PPIM in February 2020, we believe we still have no direct competitors for our machine learning, cloud-based solution, and that our strategies and efforts will achieve our objective of increasing our competitive moat.

From a corporate perspective:

  • We intend to improve awareness of our Company and opportunity with U.S. investors by increasing our participation in various investor and industry conferences, road show events and other initiatives targeting potential investors who pursue artificial intelligence; machine learning; SaaS; and environmental, social and governance-associated investments in microcap companies.
  • Management will continue to operate the business with a strong focus on increasing shareholder value, by advancing the Company’s intellectual property and addressing the multiple factors that we believe tend to enhance value for SaaS companies.

Potential Business Disruption Due to Volatile Oil Price and Covid-19 Virus

Although it is difficult to predict future scenarios that OneSoft may need to contend with in Fiscal 2020 as a result of the depressed oil price and Covid-19 virus epidemic, we believe the Company is well-positioned to deal with unusual business disruption that started to unfold in early 2020.

  • With respect to depressed oil prices, our clients are midstream pipeline operators whose business is to transport oil and gas products and typically operate under long term contractual commitments based on fixed fee pricing for transporting products rather than pricing that fluctuates with the price of oil or gas. Product throughput must continue regardless of oil pricing volatility and assured revenues justify continuance of our clients’ integrity management and digital transformation strategies. Unlike upstream companies (oil and gas producers) whose capital and operating expenditure budgets are more closely linked with the price of oil and gas, we anticipate less disruption to our business with midstream clients as a result of volatile commodity pricing. Furthermore, PHMSA regulations that mandate periodic collection of ILI data for U.S. O&G pipeline infrastructure are still required, and it is possible that we may even benefit as a result of industry financial concerns if customers potentially accelerate their investigation and adoption of more efficient and cost-effective methodologies to improve financial operating metrics, which we believe our solutions deliver. As well, new PHMSA rules that are scheduled to be effective July 1, 2020 are anticipated to not only require operators to improve data gathering and analysis processes but to also assess more pipelines that are not currently subject to federal operational mandates, thus potentially expanding our U.S. addressable market.
  • With respect to Covid-19, most of our clients and prospective customers have by now implemented policies to minimize potential negative effects to operations, which impact travel and access to their employees for meetings. While face to face meetings with clients and prospective customers are currently restricted, we are well positioned to conduct meetings using on-line and video conferencing tools instead. Our Company has operated with remote home-based employees, rather than from a centralized office environment, since 2015. As a result, we do not anticipate slow-down of product development or expect material negative disruption to service our clients, as we are insulated from the potential quarantine and work stoppage scenarios that currently face businesses that use conventional office environments.

The extent of potential business disruption in Fiscal 2020 cannot be known with any degree of certainty. At this point in time, and given the information we have today, Management anticipates that business fallout from these factors will be disruptive for at least part of 2020, but not overly threatening to the Company’s longer-term business and outlook. We intend to closely monitor the situation and adjust as necessary as events unfold.

Fiscal 2020 Outlook

Given the Company’s priorities to focus on adding new clients, increasing data ingestion and analyses to augment our learnings database and accelerating new product development to increase our competitive moat and future opportunities, we expect to incur operational losses in 2020. Following the ramp-up of resource allocations to pursue these growth initiatives in 2019 the Company’s cash consumption in operations before the effect of changes in working capital accounts was $2,535,359, or an average of $633,840 per quarter. This cash consumption was offset by the generation of $2,711,126 cash from working capital accounts, of which $991,324 arose from deferred revenue as customers prepaid next year’s subscription to use CIM. Management believes they can, in part, finance a portion of the 2020 operational cash consumption in a similar manner.

Management’s current expectation, based on our sales pipeline, is to double revenue in Fiscal 2020 over the prior year, providing purchase decisions are not postponed due to unforeseen industry budget curtailments resulting from the commodity price volatility and Covid-19 disruptions. If such disruption were to occur, we believe the worst-case scenario will be a delay in achieving our objectives until more normal business conditions prevail. We also believe that such disruption would likely delay development funding for potential competing solutions, so potential risk to our competitive moat would not be significant during this period of disruption. In any event, we will continue to enhance our solutions and build stronger value for our Company and investors, and given the Company’s $10.5 million cash and short-term investments balance and current cash burn rate, we believe the Company is well-funded to pursue our business and strategies.

ON BEHALF OF THE BOARD OF DIRECTORS
ONESOFT SOLUTIONS INC.

Douglas Thomson
Chair

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 effects of the COVID -19 world pandemic and related effects on the North American global economy, crude oil price fluctuations, interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour 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 costs of performing pipeline evaluation, inspection and maintenance in the USA are representative of those in the rest of the world, are reasonably accurate; the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. 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.

LD MicroCap

OneSoft Solutions to Present at the 2020 LD Micro Virtual Conference

EDMONTON, CANADA / March 3, 2020 / OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS) (OTCQB:OSSIF) today announced that CEO Dwayne Kushniruk will be presenting at the third annual LD Micro Virtual Conference on Wednesday, March 4 at 8:20 AM PST / 11:20 AM EST.

You can access the live presentation at the following link: OneSoft Solutions Virtual Presentation.

“OneSoft Solutions has growing interest from investors because the Company’s attributes are of high interest in today’s investment climate. These include machine learning; cloud computing; a SaaS, recurring revenue business model; and the fact that our predictive analytics software supports Environmental, Social and Governance (“ESG”) activism by detecting threats to pipeline failures,” said Mr. Kushniruk. “LD Micro Virtual is an efficient way to reach many U.S. investors and provide a corporate update, especially following our recent attendance at the annual Pipeline Pigging and Integrity Management conference which draws the largest global audience of pipeline integrity professionals. We witnessed strong interest from customers and prospects at PPIM, and did not see a single competitive machine learning solution.”

“We are delighted to be hosting our third virtual event in order to showcase some of the truly unique names in micro-cap,” said Chris Lahiji, President of LD Micro. “There are a many people and companies who are unable to attend our live events, due to any number of reasons, so we are happy to offer an additional way for companies to present to investors without taking a lot of time out of their day-to-day operations. While virtual events will never replace the experience of sitting in the same room as other humans, it is a great format for updating the investor community and getting increased exposure.”

The conference will be held via webcast and will feature over 40 companies in the small or micro-cap space.

View OneSoft Solutions’ profile here: http://www.ldmicro.com/profile/OSS.V.

About LD Micro

LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. What started out as a newsletter highlighting unique companies has transformed into an event platform hosting several influential conferences annually (Invitational, Summit, and Main Event).

In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector. LD will continue to provide valuable tools for the benefit of everyone in the small and microcap universe.

For those interested in attending, please contact David Scher at david@ldmicro.com or visit www.ldmicro.com for more information.

For the presenting schedule, please visit: https://www.ldmicro.com/events.

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 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, product creation revenues and profitability of the Company, the Company’s efforts to develop and commercialize the technology with the capabilities 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 for the purpose of delivering 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: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the efficacy of its software, its ability to complete projects to expected deadlines, the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. 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; human capital engagement and availability, ability to access sufficient financial 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 as a result 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.

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

Profiles powered by LD Micro – News Compliments of Accesswire

OneSoft Dig to Repair Ratio White Paper Presented at PPIM 2020 in Houston, Texas

Machine Learning Technology Measures Effectiveness and Cost Savings for Pipeline Digging Programs

EDMONTON, ALBERTA, CANADA / February 24, 2020 / OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS) (OTCQB:OSSIF) is pleased to announce that representatives from the Company’s wholly owned operating subsidiary, OneBridge Solutions Inc. (“OneBridge”), presented a white paper profiling Statistical Analysis of Dig Operations (the “Study”) to pipeline industry professionals at PPIM 2020, the industry’s primary forum devoted exclusively to pigging for maintenance and inspection, as well as pipeline integrity evaluation and repair. The white paper confirms the high value proposition of utilizing OneBridge’s technology and products.

The Study was compiled by OneBridge employees Dr. Yevgeniy Petrov, Jordan Dubuc, Michael H. Murray and Tim Edward and based on statistical analysis performed by OneBridge’s Cognitive Integrity Management (“CIM”) solution. Data used for the study involved 1,074 in-line inspection (“ILI”) runs conducted between 1991 and 2017, on pipelines with installation dates ranging from 1920 to 2016 and more than 23,000 digs that were performed between 1959 and 2019, resulting in 171 miles of pipeline excavations in aggregate.

Based on historic dig records, we determined whether a productive (i.e., a necessary dig) repair was performed or if the pipe was simply recoated without additional action taken (an un-necessary dig) to calculate the “Repair Fraction”, as an assessment of the overall effectiveness of a dig program. With some variations, the Repair Fraction for the data used in this study was mostly consistent between 40 to 60% of digs completed.

The capability of CIM to assess pit-to-pit anomaly growth over multiple ILI runs enables pipeline operators to measure effects of specific factors to improve the Repair Fraction through identification of opportunities to optimize dig selection criteria to improve integrity management decision-making. For example, anomalies with higher growth rates should merit a repair more often than those with low growth rates. Whereas the CIM pit-to-pit growth model does exhibit this trend, the “half-life”-based model that is used by certain operators today shows a flat or negative correlation between Repair Fraction and anomaly growth, indicating that the half-life model does not as accurately identify anomalies that are most risky or in need of repair.

The Study concludes that OneBridge’s new tools and methodologies made available through advances in data science and machine learning allow clients to improve their integrity management programs. With CIM’s structured approach to integrity management decision-making, more rigorous management and analysis of integrity data and the use of modern tools which leverage the computational power of the cloud provide significant opportunity for deeper analysis and inspection of integrity management programs. The types of analysis presented can guide operators toward a more effective integrity program and allocation of dig program funds, and also potentially reduce overall risk by improving the selection of prioritized digs.

“This is our first such quantifiable study that has been published and we are in process of developing additional models where the learnings will be shared across our customers from both a risk and financial perspective. This would not be possible without having first built our CIM platform to aggregate big data from our customers and prospects, which involves tens of thousands of miles of pipeline data and learnings from more than 50 million features,” said Tim Edward, OneBridge President. “Even a 1% delta in improving Repair Fraction is significant, and we believe our customers may see efficiency gains in the 10 or 20% range, which will greatly improve their risk and financial metrics through use of CIM.”

“This was our fourth attendance at PPIM, which has been an annual occurrence since we founded OneBridge,” said Brandon Taylor, President and COO of OneSoft. “We met numerous clients, prospective clients and partners during the week who have been monitoring our progress and considering adoption of our CIM platform. New technology alternatives are typically showcased at PPIM and we remain confident that we are leading in innovation for the industry and can continue to scale revenue and growth based on the solid product and business strategies that we have developed to date.”

The full Study report and video of the OneBridge PPIM presentation can be accessed by clicking on the links provided.

About PPIM

The white paper was presented as part of the Pipeline Pigging and Integrity Management (“PPIM”) conference program held in Houston, Texas February 17-21, 2020, the oil and gas pipeline industry’s primary forum devoted exclusively to pigging for maintenance and inspection, as well as integrity evaluation and repair. Established in 1989, PPIM is celebrated its 32nd anniversary in 2020, with a global attendee presence. For more information, visit www.clarion.org/ppim/ppim20/index.php.

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 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, product creation revenues and profitability of the Company, the Company’s efforts to develop and commercialize the technology with the capabilities 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 for the purpose of delivering 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: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the efficacy of its software, its ability to complete projects to expected deadlines, the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. 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; human capital engagement and availability, ability to access sufficient financial 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 as a result 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.

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

OneSoft Innovation Lab

OneSoft Introduces OneBridge Innovation Lab to Collaborate with Microsoft, Clients and Partners to Reduce Pipeline Failures

EDMONTON, AB / February 13, 2020 / OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSXV:OSS)(OTCQB:OSSIF) is pleased to announce the establishment of the OneBridge Innovation Lab, an innovation center that will work with Microsoft, clients and partners to prove new data science, machine learning and predictive analytic models to advance the oil and gas (“O&G”) pipeline industry.

Working collaboratively with Microsoft [MSFT] and O&G pipeline operators, the Innovation Lab represents a comprehensive and bold approach to innovation wherein OneBridge can incorporate multidisciplinary expertise involving legacy and leading-edge technologies concerning pipeline data management, analytics and processes. OneBridge Innovation Lab is structured to fast-track creation and scaling of new ideas to advance digital transformation agendas, through deployment of revolutionary machine learning and data science solutions based on Microsoft’s Azure cloud computing platform and technologies.

“Through our Cognitive Integrity ManagementTM (“CIM”) clients, prospects, and reseller partners, we’re continually learning about new white space opportunities that can advance industry efficiencies through the application of new technologies and processes,” said Tim Edward, OneBridge President and Visionary. “Most of these parties that are pursuing a digital strategy have already established internal innovation labs to investigate next generation technology initiatives, but have limited experience in leveraging machine learning and data science for their solutions. This is where our expertise comes in. Along with Microsoft, our customers and prospects have expressed interest in leveraging our CIM platform and expertise as part of their strategies. We believe this is highly opportunistic to expand our footprint of mission critical solutions for the industry, as well as to potentially spring-board OneBridge into new markets such as water and sewer.”

OneBridge will be unveiling its Innovation Lab to industry participants at the upcoming Pipeline Pigging and Integrity Management Conference and Exhibition (“PPIM”) conference, the O&G industry’s primary forum devoted exclusively to pigging for maintenance and inspection, as well as integrity evaluation and repair. Established in 1989, PPIM is celebrating its 32nd anniversary in 2020, with a global attendee presence.

“We believe that PPIM provides an ideal opportunity to formally launch our Innovation Lab strategy,” said Brandon Taylor, OneSoft President and COO. “We intend to solicit ideas from multiple industry experts and develop prototype solutions using “Test Fast, Learn Fast, Scale Fast” methodologies which can then be incorporated into the CIM roadmap, with a view to accelerating commercial availability timelines for such new applications.”

OneBridge Innovation Lab operates as a division of the Company’s wholly owned subsidiary, OneBridge Solutions Inc. (“OneBridge”). Parties with interest in learning more or joining the OneBridge Innovation Lab are encouraged to email innovationlab@onebridgesolutions.com.

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 [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 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, product creation revenues and profitability of the Company, the Company’s efforts to develop and commercialize the technology with the capabilities 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 for the purpose of delivering 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: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the efficacy of its software, its ability to complete projects to expected deadlines, the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. 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; human capital engagement and availability, ability to access sufficient financial 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 as a result 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.

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

SOURCE: OneSoft Solutions Inc.

OneSoft Solutions Renews Engagement of Sophic Capital for Capital Markets Advisory Services

Edmonton, Alberta, Canada (December 31, 2019) OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V: OSS; OTCQB: OSSIF) announced today that it has renewed the appointment of Sophic Capital Inc. (“Sophic Capital”) as its Capital Markets Advisory firm. As part of the contract renewal, Sophic Capital will continue to manage OneSoft’s investor relations activities, focusing on increasing investor awareness of OneSoft by advancing its communications strategy with shareholders, investors, investment dealers and other financial professionals.

OneSoft’s engagement with Sophic Capital is a 12-month term, on a fee-for-services basis of $7,000 per month. In addition, OneSoft has granted Sophic 400,000 options to purchase OneSoft shares at a price of $0.63 per share. Options will vest over 12 months and unexercised vested options will expire ninety (90) days after Sophic Capital ceases to provide services to the Corporation, or in any event on December 24, 2022.

About Sophic Capital

Sophic Capital is a capital markets advisory firm for public and private growth companies, specializing in developing complete capital markets strategies for companies across all stages of development. Sophic Capital’s depth of knowledge in the technology sector, clean technology and special situations markets combined with decades of experience working in the capital markets, makes it an ideal partner to help lower the cost of capital and accelerate growth. For more information, visit www.sophiccapital.com.

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 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, product creation revenues and profitability of the Company, the Company’s efforts to develop and commercialize the technology with the capabilities 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 for the purpose of delivering 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: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the efficacy of its software, its ability to complete projects to expected deadlines, the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. 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; human capital engagement and availability, ability to access sufficient financial 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 as a result 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.

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