OneSoft Solutions Inc.
TSX VENTURE : OSS

OneSoft Solutions Inc.

June 01, 2016 15:42 ET

OneSoft Announces That Its Subsidiary, OneBridge Solutions, Will Unveil Its New Cloud Software at Microsoft Ventures Accelerator Event on Thursday, June 2, 2016

EDMONTON, ALBERTA--(Marketwired - June 1, 2016) - OneSoft Solutions Inc. (the "Company" or "OneSoft") (TSX VENTURE:OSS), a North American developer of cloud business solutions is pleased to announce that its wholly owned subsidiary, OneBridge Solutions Inc. ("OneBridge") will present its company vision, software technology and products to potential customers, investors, press and the interested public at the windup event of the Microsoft Ventures Seattle Accelerator program on Thursday, June 2, 2016. The event will be streamed live commencing at approximately 5:30 pm Pacific Time.

OneBridge is one of eleven companies that were selected out of 721 applicants from 50 countries by Microsoft Ventures in December, 2015 to participate in its first Accelerator for Machine Learning and Data Science to be conducted world-wide. This initiative was an immersive four-month program aimed at helping entrepreneurial software companies design and develop software applications based on the Microsoft Cloud platform and services, wherein Microsoft provided mentorship and focus to assist the participating companies to quickly advance their technology and business development and scale up their operations world-wide.

This was the third Seattle-based Accelerator program amongst others conducted outside of North America. Prior Accelerators have been highly opportunistic for participating companies: 81% of the 454 companies that have gone through Microsoft Accelerator to date managed to raise funding; and 32 start-up companies have exited, including 29 that were acquired (one by Microsoft) and 3 that have conducted initial public offerings. These companies have raised an aggregate of US$1.8 Billion of follow-on funding (US$730,000 median) a year after graduation.

Certain OneBridge personnel resided in Seattle during the entire Accelerator event, which commenced on February 2, 2016, in order to work out of Microsoft Ventures' office facility and gain access to numerous technology, business development, marketing and sales personnel, and other resources provided by Microsoft. Microsoft has also provided approximately US$600,000 of additional value to the OneBridge project, including a cash grant to offset travel and subsistence expenses for OneBridge personnel, the use of certain Microsoft software and tools for no cost, and future credits for Microsoft Azure usage expense.

The Demo Day event, which will be hosted at the Showbox SoDo venue in Seattle, will provide OneBridge with the opportunity to expose its vision, technology and cloud software products to potential investors and customers. OneBridge President, Tim Edward, will be the first of nine companies who will present. The live presentation can be accessed by clicking on the following link: http://techcrunch.com/2016/05/30/watch-microsoft-accelerators-machine-learning-demo-day-here/

"Accelerator has been an experience of a life-time, both for me personally and for the Company" stated Tim Edward, OneBridge President. "Not only have we had connection to top software technology and business development experts, but also to legal, sales and marketing teams that have assisted us to scale our business."

"We have been able to leverage Machine Learning and other Data Science technology to develop highly unique software applications for the oil and gas pipeline industry in a very compressed time-frame - something we would not have been able to accomplish in such a short timeframe had we not been part of this Accelerator program" added Brandon Taylor, CTO and President of US operations.

Immediately following Demo Day, OneBridge will commence working with select Private Preview customers, in order to incorporate early adopter feedback and input into its software solutions that are scheduled for release to the general market in Fiscal Q3. OneBridge will continue as an alumnus of Microsoft Accelerator, which will provide ongoing benefits, including access to and use of Microsoft offices world-wide for sales and marketing initiatives and inclusion of OneBridge solutions on Microsoft's Azure World-wide Marketplace, wherein OneBridge's software will be showcased. Certain Microsoft sales personnel who focus on enterprise oil and gas customers are now being familiarized with OneBridge solutions to facilitate OneBridge product sales via the Azure Marketplace.

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, with accessibility through any internet capable device. Visit www.onesoft.ca for more information.

About OneBridge Solutions Inc.

OneSoft's wholly owned subsidiary, OneBridge Solutions Inc., is 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 the key functions that pipeline companies 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.

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 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.

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