August 1, 2018 - 7:00 AM EDT
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Sinclair Oil Engages in Pilot Project to Assess OneSoft’s CIM Machine Learning Solution




Sinclair Oil Engages in Pilot Project to Assess OneSoft’s CIM Machine Learning Solution



Edmonton, Alberta (FSCwire) - OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS, OTC:OSSIF) is pleased to announce that its wholly owned subsidiary, OneBridge Solutions Inc. (“OneBridge”) has initiated a Pilot program with Sinclair Oil, a family-owned, vertically-integrated oil company (“Sinclair”), to conduct a trial use of the Company’s Cognitive Integrity ManagementTM (“CIM”) software-as-a-service (“SaaS”) solution to investigate the use of advanced Data Science and Machine Learning technologies in conducting integrity management for segments of Sinclair’s pipeline system.

 

“Sinclair’s vision is to relentlessly pursue a safe, reliable, environmentally responsible and profitable operation, to ensure a sustainable future for its owners and employees and the communities where they operate,” stated Robin Magelky, Senior Sales Engineer at OneBridge.  “We are proud to work with them to investigate our new, cutting-edge technology that supports their vision and look forward to demonstrating how Machine Learning can augment their current processes to improve data analytics capability to detect potential threats to their pipelines.”

 

“We are pleased to be working with Sinclair Oil on this pilot, who brings a different client perspective,” stated OneSoft CTO Brandon Taylor. “Engaging with Sinclair affirms the achievement of our objective of creating software that is scalable for use by different clients with different internal processes. We expect to garner valuable insight about deploying our solutions for clients like Sinclair, who represent a large segment of our potential customers.”

 

About Sinclair Oil

 

Sinclair is a family-owned, vertically-integrated oil company founded more than 100 years ago, which has grown through high entrepreneurial spirit over the past century to become one of the oldest, continuous, U.S.A. brands in the oil business today. Based in Salt Lake City, Utah, the company is involved in all aspects of the industry including oil and gas exploration, motor fuel distribution, refineries, and operation of more than 1,400 company owned retail locations spanning 28 states, all identified by the company’s “Dino the Dinosaur” iconic branding. Sinclair owns and operates more than 1,000 miles of pipelines to transport crude oil and refined transportation fuels; several crude oil terminals with combined storage of more than 2 million barrels; and several light product terminals located in Northern and Mid-Western states, with aggregate storage capacity of 2.7 million barrels. Sinclair also has joint venture financial interest in additional pipelines and light product terminals, as well as refineries in the North West U.S.A. whose combined capacity exceeds 100,000 barrels per day, making Sinclair the largest refiner in the Rocky Mountain region.

 

About the Pilot Program

 

Pursuant to the terms of the Pilot Program agreement, OneBridge will normalize inline inspection (“ILI”) data for segments of pipelines, ingest the data, map certain shape and ILI files, and align anomalies and calculate their growth rates. CIM provides revolutionary Pattern Detection and Interacting Threats functionality using data science and proprietary Machine Learning algorithms, which are designed to detect threats to pipelines over time using Predictive Analytics, as well as advanced business intelligence, graphical presentations, and reporting of the data that operators require to manage their pipeline infrastructure. 

 

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:NASDAQ) 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 Data Science and Machine Learning to apply predictive analytics to big data, which 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

[email protected]

(780) 437‐4950

 

Sean Peasgood, Investor Relations

[email protected]

(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. (TSX Venture:OSS, OTCQB:OSSIF, FWB:5S5)

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