EDMONTON, ALBERTA--(Marketwired - June 9, 2016) - OneSoft Solutions Inc. (the "Company" or "OneSoft") (TSX VENTURE:OSS) is filing this document as an update to the press release posted by the Company on June 1, 2016, as a follow up to the Microsoft Ventures Accelerator Demo Day event which took place on June 2, 2016.
Enclosed are links to view the pitches online that were presented to the audience in Seattle, Washington and streamed live, by the nine companies that worked through the Accelerator program for Machine Learning and Data Sciences which commenced on February 2, 2016. These nine companies, including OneBridge Solutions Inc. were selected by Microsoft Ventures from 721 software start-ups in 50 countries who applied to participate in the program.
As part of Accelerator, Microsoft Ventures expects to contribute services and benefits which total approximately US $600,000 for each of these nine companies, comprised of cash grants to offset travel and subsistence expenses incurred by the participating companies who worked out of the Microsoft office facilities in Seattle during the four-month sprint, free access to software, and credits for use of Microsoft's Azure platform to a maximum of US$ 500,000 during the next three years.
Microsoft's motivation to select and provide these benefits for the participating companies is to assist to advance revolutionary software start-ups that can potentially invent, develop and deploy cloud solutions which accommodate big data and Machine Learning applications, Microsoft's expectation is that such disruptive applications will drive consumption of Azure and other Microsoft cloud technology components on a world-wide basis, and ultimately replace legacy software solutions with new cloud solutions that are built on Microsoft's cloud platform and services.
The Demo Day event served to conclude the four-month technology and business development sprint that was conducted out of Microsoft's Seattle facilities, and provided the participating companies with an opportunity to present their companies and projects to invited guests which included analysts, press, investors and the public.
"We were certainly honored to kick off the Demo Day event, which attracted a variety of North American and international analysts and investors" stated Tim Edward, President of OneBridge. "We now look forward to exploring scenarios that may potentially be synergistic to our business and corporate development efforts." Brandon Taylor, CTO and President of OneBridge USA added, "From a technology perspective, having concluded the Accelerator sprint in Seattle, our focus is now on our Private Preview program, which is designed to accelerate the incorporation of customer use cases and validation, with the objective being to deliver general release to market of the first phase of our new solutions by Q4 of this calendar year."
Links to video and press reports follow. To view the prelude to the pitches, click here. Then click on the "Video" section, then click on the lower left video on the page.
OneBridge was honored to be the first of the nine presenters, each of which can be viewed by clicking on the appropriate link below.
| STARTUP NAME | NEW URL |
| OneBridge | https://youtu.be/5B6phd4Gbos |
| Agolo | https://youtu.be/ukhTMowMDXc |
| simMachines | https://youtu.be/sU4ygL_Ntm0 |
| DefinedCrowd | https://youtu.be/cza7rU__2Zw |
| Knomos | https://youtu.be/RF3U6pW7Qv4 |
| Percolata | https://youtu.be/HVUeV7MI9Ms |
| MedWhat | https://youtu.be/3f86tncDiIg |
| Plexuss | https://youtu.be/hGZRYclfuL8 |
| Affinio | https://youtu.be/MCYqXJPLucg |
Additional Coverage:
- Rachel Ramon / GeekWire: Microsoft Accelerator Demo Day: Cloud and AI innovations from 9 emerging startups
- Rachel Lerman / Seattle Times: Microsoft features machine-learning startups at pitch night.
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.
Contact Information:
Dwayne Kushniruk
CEO
(780) 437-4950
dkushniruk@onesoft.ca