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EDMONTON, ALBERTA--(Marketwired - Jan 21, 2016) - OneSoft Solutions Inc. (the "Company" or "OneSoft") (TSX VENTURE:OSS), a North American developer of cloud-based business solutions, is pleased to announce the appointment of Dr. Gary Kenney to its board of directors effective immediately. Dr. Kenney is Managing Principal at Sine Rivali, LLC of Houston, Texas, which specializes in national and international work associated with disaster and accident investigations, development of safety and environmental management programs and the development and interpretation of legislation that governs major infrastructure assets.
Dr. Kenney has directed technical investigations into a number of high profile accidents in the oil & gas industry including the Piper Alpha offshore installation disaster on behalf of the UK Department of Energy, the Longford, Australia gas plant explosion and fires on behalf of the State of Victoria's Treasury Solicitor, and most recently was appointed by the US Department of Interior to lead the forensic investigations of the BlowOut Preventer fitted to the Macondo well in the Gulf of Mexico.
Dwayne Kushniruk, Chief Executive Officer of OneSoft, states, "We are extremely pleased that Dr. Kenney has joined our Board. His expertise, forty years of industry experience, vision and contacts will be of great benefit to us as we pursue the many opportunities that we see for our Company and for our subsidiary, OneBridge Solutions Inc. I look forward to working with him to capitalize on these opportunities. The addition of Gary to our Board and our recently announced involvement in the Microsoft Ventures Accelerator program represent major steps forward to achieve our initial objective of providing revolutionary cloud-based software solutions for the pipeline industry, and subsequently for other infrastructure applications".
Dr. Kenney added, "I'm excited to join the OneSoft Board and participate in achieving its vision. The OneBridge focus on the use of new cloud technologies, data sciences and machine learning to advance software solutions to address public awareness, safety and integrity management of pipeline assets is most compelling. Having spent my career in this area, I look forward to being a part of the team to bring these significant advancements to the industry."
As part of Dr. Kenney's compensation for joining the board of directors, he will receive 100,000 stock options to purchase common shares of OneSoft which shall carry an exercise price of $0.10 per common share, expire on January 18, 2021, and otherwise conform to the terms of the Company's stock option plan.
ON BEHALF OF THE BOARD OF DIRECTORS
ONESOFT SOLUTIONS INC.
Douglas Thomson, Chair
About OneSoft Solutions Inc.
OneSoft Solutions Inc. has developed software technology and products that have capability to transition legacy, on-premise licensed software applications to operate on the Microsoft Cloud, in conjunction with Office 365, CRM Online and Microsoft Azure. OneSoft's business strategy is to seek opportunities to convert legacy business software applications that are historically cumbersome to deploy and costly to operate, to a more cost efficient subscription based business model utilizing the Microsoft Cloud and be accessible by any online capable device. Visit www.onesoft.ca for more information.
About OneBridge Solutions Inc.
OneSoft's wholly owned subsidiary, OneBridge, is in process of developing revolutionary new applications for the oil and gas pipeline industry. OneBridge utilizes a single geo-spatial database that accommodates pipe-centric structured and unstructured big data, with capability to address all of the functions that pipeline operators require to manage, operate and maintain their pipelines. OneBridge solutions, which are deployed as SaaS applications on Microsoft's Azure platform, address public awareness and regulatory requirements, and utilize new Machine Learning and Data Science components of Microsoft Cloud technology to address integrity management and risk assessment. Visit www.onebridgesolutions.com for more information.
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 for the purpose of providing 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 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 a number of 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 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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
OneSoft Solutions Inc.