ProStar Holdings Announces Closing of Non-Brokered Private Placement For Gross Proceeds of $1,775,000

ProStar Holdings Announces Closing of Non-Brokered Private Placement For Gross Proceeds of $1,775,000

ProStar Holdings Announces Closing of Non-Brokered Private Placement For Gross Proceeds of $1,775,000

yahoo finance

Friday, November 1, 2024, at 4:30 PM EST

TSX Venture Exchange

Trading Symbol: MAPS

OTCQX

Trading Symbol: MAPPF

ProStar Holdings Announces Closing of Non-Brokered Private Placement For Gross Proceeds of $1,775,000

GRAND JUNCTION, Colo., Nov. 01, 2024 (GLOBE NEWSWIRE) — (OTCQB: MAPPF) (TSXV: MAPS) (FSE: 5D00) ProStar Holdings Inc. (the “Company” or “ProStar®“) a world leader in Precision Mapping Solutions®, is pleased to announce that it has closed its previously announced non-brokered private placement (the “Offering”) for gross proceeds of C$1,775,000, through the sale of 11,093,750 units (the “Units”) at a price of $0.16 per Unit (the “Offering Price”).

Each Unit consists of one common share of the Company (each, a “Common Share”, and collectively the “Common Shares”) and one Common Share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder thereof to acquire one common share of the Company (a “Warrant Share”) at a price of C$0.22 per Warrant Share for a period of 36 months from the date of issuance thereof, provided that if the closing price of the Common Shares on any Canadian stock exchange on which the Common Shares are then listed is at a price equal to or greater than C$0.30 for a period of ten (10) consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants by issuing a press release or other form of notice permitted by the certificate representing the Warrants, announcing that the Warrants will expire at 4:30 p.m. (Vancouver time) on a date that is not less than 30 days from the date notice is given.

The Company will use the proceeds of the Offering for sales, marketing and working capital requirements.

“I am very pleased to announce the closing of this financing which included strong participation from several members of our Board, Executive Team, and existing shareholders” stated Page Tucker, CEO and Founder of ProStar. “We believe we are nearing an important inflection point and the proceeds from this financing, combined with a debt-free balance sheet, should provide the Company with the liquidity to achieve our goals. I look forward to continuing to provide updates on our progress to our shareholders and the financial community.”

In connection with the Offering, the Company paid fees to eligible finders consisting of: (i) C$3,360.00 and (ii) 21,000 finder’s warrants (the “Finder Warrants”). Each Finder Warrant is exercisable into one common share of the Company (a “Finder Warrant Share”) at a price of C$0.22 per Finder Warrant Share until that date that is three (3) years from the date of issue of the Finder Warrants.

Certain directors and senior officers of the Company (the “Interested Parties”) purchased or acquired direction or control over a total of 1,833,751 Units as part of the Offering. The placement to the Interested Parties constituted a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Notwithstanding the foregoing, the directors of the Company have determined that the Interested Parties’ participation in the Offering will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of the Interested Parties had not been confirmed at that time.

The securities issued in the Offering will be subject to applicable hold periods imposed under applicable securities legislation, including a hold period of 4 months and one day from the date of issuance. The Offering remains subject to regulatory approval and the approval of the TSX Venture Exchange (the “TSXV”).

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor will there be any sale of any of the securities described in this news release in any jurisdiction, including the United States, in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction or an available exemption therefrom. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any applicable securities laws of any state of the United States, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and any applicable securities laws of any state of the United States or pursuant to an exemption from such registration requirements.

About ProStar:

ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies. ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface.

ProStar’s PointMan is offered as a Software as a Service (SaaS) and has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and their dealer networks. The Company has made a significant investment in creating a vast intellectual property portfolio that includes 16 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines.

For more information about ProStar, please visit www.prostarcorp.com.

Contact:
Page Tucker
CEO & Founder
[email protected]

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

Cautionary Statements Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the anticipated use of proceeds of the Offering and the receipt of final regulatory approval from the TSXV. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. 

 

In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will use the proceeds of the Offering as currently anticipated and that the Company will receipt approval from the TSXV in connection with the Offering.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not receive the required regulatory approvals or approval from the TSXV in connection with the Offering and that the Company will not use the proceeds of the Offering as currently anticipated. 

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

GRAND JUNCTION, Colo., Feb. 26, 2024 (GLOBE NEWSWIRE) — ProStar Holdings Inc., (“ProStar®” or “the Company”) (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a world leader in Precision Mapping Solutions, is pleased to announce a technology integration with Topcon Corp (TYO: 7732). The integration combines ProStar’s utility mapping software, PointMan®, and Topcon’s fixed and portable GNSS antennas. The technology integration provides Topcon users with a seamless and easy to use utility data collection solution to capture, record, and display the precise location of critical underground infrastructure anywhere in the world.

“It’s imperative from a strategic business relationship standpoint to forge collaborative partnerships with best-in-class solution providers, fostering symbiotic relationships across the situational awareness sector,” said Scott Wielt, Senior Product Manager, Topcon. “PointMan stands out unequivocally as a premier utility mapping solution that enhances our extensive suite of asset mapping and utility data collection solutions.”

The technology integration of PointMan with Topcon GNSS receivers means that PointMan now supports Topcon Hiper VR highly versatile GNSS receivers for mobile devices running the Google Android operating system. The seamless integration empowers Topcon users with PointMan’s unparalleled precision in subsurface utility mapping.

The completion of the integration with Topcon marks a major milestone for ProStar as it means PointMan is now integrated into every major utility detection hardware equipment manufacturer and is consistent with the Company’s strategy is to maximize the probability of market share dominance. ProStar’s has now established strong strategic business partnerships with the world’s leading equipment manufacturers of cable and pipe locate devices, ground penetrating radar, and GPS/GNSS receivers. These partnerships represent indirect global sales distribution channels in a variety of industry sectors. Further, it allows clients to leverage PointMan with legacy equipment with no additional investment required in hardware.

“We’re thrilled about the collaboration with Topcon and their dynamic product development team,” affirmed Page Tucker, CEO of ProStar. “This partnership significantly enriches our worldwide distribution network, leveraging Topcon’s esteemed reputation as a global frontrunner in delivering utility data collection solutions, precision GNSS receivers and machine control systems. By creating business partnerships with all of the major hardware manufacturers in the utility detection space including electromagnetic utility locate devices, ground penetrating radar, as well as GPS/GNSS receivers, ProStar materially has positioned itself to dominate market share for utility mapping over the coming years.”

About Topcon Positioning Group 
Topcon Positioning Group, always one step ahead in technology and customer benefits, is an industry leading designer, manufacturer and distributor of precision measurement and workflow solutions for the global construction, geospatial and agriculture markets. Topcon Positioning Group is headquartered in Livermore, California, U.S. (topconpositioning.comLinkedInTwitterFacebook). Its European head office is in Zoetermeer, the Netherlands. Topcon Corporation (topcon.com), founded in 1932, is traded on the Tokyo Stock Exchange (7732).

About ProStar:
ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies. ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface.

ProStar’s PointMan is offered as a Software as a Service (SaaS) and seamlessly connects the field with the office and provides the ability to precisely capture, record, display, and manage critical infrastructure, including roads, railways, pipelines, and utilities. Some of the largest entities in North America have adopted ProStar’s solutions, including Fortune 500 construction firms, Subsurface Utilities Engineering (SUE) firms, utility owners, and government agencies. ProStar has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and their dealer networks. The Company has made a significant investment in creating a vast intellectual property portfolio that includes 18 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines. ProStar’s Executive management team has extensive experience in the management of both early-stage and Fortune 500 technology companies in the private and public sectors.

For more information about ProStar, please visit www.prostarcorp.com.

Contact:
Joel Sutherland
Investor Relations
970-822-4792

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

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company’s future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Company’s recent Annual Management’s Discussion & Analysis filed on SEDAR + on April 21, 2023, for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through the Company’s issuer page on SEDAR + at www.sedarplus.ca.

Fortune 500 Energy Company Adopts PointMan to Improve Refinery Maintenance Operations

Fortune 500 Energy Company Adopts PointMan to Improve Refinery Maintenance Operations

September 23, 2024

TSX Venture Exchange Trading Symbol: MAPS
OTCQX Trading Symbol: MAPPF

GRAND JUNCTION, Colo., Sept. 23, 2024 (GLOBE NEWSWIRE) — ProStar Holdings Inc. (“ProStar®” or “the Company”) (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a global leader in Precision Mapping Solutions®, is proud to announce that a Global Fortune 500 Energy Company has adopted ProStar’s PointMan® solution to enhance maintenance and safety for refinery operations.

The Company has implemented PointMan with an emphasis on precision mapping of the current infrastructure and assets for a refinery’s operations. This digital mapping initiative will lay the groundwork for future repair and maintenance of refinery projects, ensuring that older parts of the refinery’s infrastructure are systematically updated with precision. Once the updates are completed, PointMan will serve as the Geographic Information System (GIS) and data source, supporting ongoing maintenance and asset management responsibilities for the refinery division.

ProStar’s flagship product, PointMan, is designed to improve critical infrastructure lifecycle management by leveraging cutting-edge mobile and cloud-based technology. The solution allows for precise capture, visualization, and management of vital infrastructure assets, both above and below the Earth’s surface, in real-time. The Company adopted PointMan to streamline operational workflows, enhance asset visibility, and reduce maintenance-related risks often associated to refinery operations.

“We are thrilled to have another Fortune 500 company as one of the latest adopters of PointMan,” said Page Tucker, CEO of ProStar. “The decision to integrate our technology into their complex refinery operations is a clear indication to the value that PointMan provides to any company focused on improving the management of critical infrastructure.”

About ProStar:

ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies. ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface.

ProStar’s PointMan is offered as a Software as a Service (SaaS) and has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and their dealer networks. The Company has made a significant investment in creating a vast intellectual property portfolio that includes 16 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines.

For more information about ProStar, please visit www.prostarcorp.com.

Contact:
Page Tucker
CEO & Founder
[email protected]

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

Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company’s future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Company’s recent Annual Management’s Discussion & Analysis filed on SEDAR + on April 21, 2023, for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through the Company’s issuer page on SEDAR + at www.sedarplus.ca.

Read the Full Article at TMX Money.

ProStar Geocorp Expands Its Reach into Local and Regional Governments with PointMan Muni

ProStar Geocorp Expands Its Reach into Local and Regional Governments with PointMan Muni

September 19, 2024
TSX Venture Exchange Trading Symbol: MAPS
OTCQX Trading Symbol: MAPPF

Grand Junction, CO – September 19, 2024 – ProStar Geocorp, a world leader in Precision Mapping Solutions®, expands its reach into local and regional governments with the addition of municipalities, townships, and counties, including the Town of Owego, New York, the City of Suffolk, Indiana and Boone County, Michigan.

PointMan Muni is designed for small to medium-sized townships, municipalities, and counties striving to transition from antiquated paper-based systems to a modern digital geospatial solution. PointMan Muni enables a more effective and cost-efficient digital asset management solution for the planning, design, construction, and maintenance of critical infrastructure that includes roads, bridges, sidewalks, fire hydrants, signs, and water and sewer systems.

“The majority of smaller townships, municipalities, and counties have limited resources and options for implementing traditional GIS systems in order to address the challenges they face with their current asset management operations,” said Page Tucker, CEO of ProStar. “It is great to see the adoption of PointMan Muni is accelerating in this sector as there are tens of thousands of small municipalities and townships in the U.S. alone that will be looking for a viable solution.”

About ProStar:

ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies. ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface.

ProStar’s PointMan is offered as a Software as a Service (SaaS) and has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and their dealer networks. The Company has made a significant investment in creating a vast intellectual property portfolio that includes 16 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines.

For more information about ProStar, please visit www.prostarcorp.com.

Contact:
Page Tucker
CEO & Founder
[email protected]

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

Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company’s future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Company’s recent Annual Management’s Discussion & Analysis filed on SEDAR + on April 21, 2023, for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through the Company’s issuer page on SEDAR + at www.sedarplus.ca.

Read the Full Article at Yahoo Finance.

Colorado Department of Transportation Signs New Contract With ProStar Following Initial Five-Year Term

Colorado Department of Transportation Signs New Contract With ProStar Following Initial Five-Year Term

August 29, 2024

TSX Venture Exchange

Trading Symbol: MAPS

OTCQX

Trading Symbol: MAPPF

GRAND JUNCTION, Colo., Aug. 29, 2024 (GLOBE NEWSWIRE) — ProStar Holdings Inc., (“ProStar®” or “the Company”) (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a world leader in Precision Mapping Solutions®, is pleased to announce that Colorado DOT has extended its contract with ProStar’s following a successful initial 5-year term to license ProStar’s flagship cloud and mobile solution, PointMan®.

The Colorado Department of Transportation (CDOT) has reaffirmed its commitment to ProStar’s PointMan® software after an initial five-year term that demonstrated significant value in the management of critical infrastructure located along interstate and railway right-of-way’s. Recognizing the value that PointMan brings in terms of damage prevention, construction management, efficiency, accuracy, and safety, CDOT has renewed its contract, further solidifying its dedication to improving critical infrastructure management, and public and environmental safety throughout the state.

As part of the new contract procurement for CDOT, ProStar was vetted and approved by Carahsoft Technology Corp., a trusted government IT solutions provider. Carahsoft simplifies the procurement process for public sector organizations including federal, state, and local government agencies by approving vendors that provide IT solutions. Carahsoft partners with thousands of resellers, system integrators and MSPs to proactively market, sell and deploy a comprehensive range of IT solutions for public sector customers across the U.S. and Canada.

“Working with CDOT over the past five years has provided for a great partnership, and we are thrilled that they have extended their commitment, and I look forward to our continued partnership.” said Page Tucker, CEO of ProStar. “Having the continued endorsement of CDOT and partnering with Carahsoft increases the potential for broader adoption of PointMan by other government agencies across the U.S. and Canada.”

About Carahsoft:

Carahsoft Technology Corp. is The Trusted Public Sector IT Solutions Provider, supporting Federal, State and Local Government agencies and Education and Healthcare markets. Founded in 2004, Carahsoft is headquartered in Reston, Virginia and employs more than 2,000 professionals dedicated to serving our public sector customers and partners. As the Master Government Aggregator® for their vendor partners, they deliver solutions for Cybersecurity, MultiCloud, DevSecOps, Big Data, Artificial Intelligence, Open Source, Customer Experience and more. Working with resellers, systems integrators and consultants, their sales and marketing teams provide industry leading IT products, services and training through hundreds of contracts.

About ProStar:

ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies. ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface.

ProStar’s PointMan is offered as a Software as a Service (SaaS) and has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and their dealer networks. The Company has made a significant investment in creating a vast intellectual property portfolio that includes 16 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines.

For more information about ProStar, please visit www.prostarcorp.com.

Contact:
Page Tucker
CEO & Founder
[email protected]

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

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company’s future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time.

 

 

Read the Full Article at TMX Money.

ProStar Announces Record Revenue in Q2 and Achieves a Major Milestone with 100th SaaS Client

ProStar Announces Record Revenue in Q2 and Achieves a Major Milestone with 100th SaaS Client

ProStar Announces Stake Center Locating Is Evaluating PointMan

July 23, 2024

TSX Venture Exchange

Trading Symbol: MAPS

OTCQX

Trading Symbol: MAPPF

GRAND JUNCTION, Colo., July 23, 2024 (GLOBE NEWSWIRE) — ProStar Holdings Inc., (“ProStar®” or “the Company”) (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a world leader in Precision Mapping Solutions®, is pleased to announce that the Company signed a record number of new clients in Q2, and signed its 100th SaaS (Software as a Service) client.

Message from CEO, Page Tucker:

Dear Fellow Shareholders,

I am pleased to report that we realized consecutive record quarters following our Q1 achievement in terms of the number of new client signings. With consecutive record-breaking quarters, we are seeing clear signs that a digital transformation is occurring in the infrastructure industry, and as a result, the adoption of our solution, PointMan is accelerating.

  • We signed 27 new customers in Q2 representing an 18.5% sequential growth from Q1 and 900% YoY from Q2 2023
  • Our customer base now includes several multinational construction companies, six of which have over $1 billion in annual revenue
  • We signed our 100th cloud customer and have a target to sign another 100 in the next 12 months

Several of our Q2 customer signings are recognized industry leaders providing ProStar tremendous validation and increased exposure throughout the entire infrastructure construction industry in both North America and around the world.

  • PCL – Canada’s largest construction company with 7.6B in annual revenue.
  • Walsh – Consistently listed among the largest contractors in the United States with over 6B in annual revenue.
  • Haskell – Operates across the US, Latin America, and Asia and has $2B in revenue in commercial and industrial markets.

Our patented solution has now evolved into a fully developed and mature product. With the heavy lifting of research and development now behind us, we reduced our operational overhead by as much as 40% YoY and have shifted focus to being a sales-centric company, paving our path to profitability.

As we enter the second half of year, my confidence in ProStar’s future has never been stronger. I would like to thank our shareholders for your ongoing support and look forward to our continued growth and creating shareholder value.

About ProStar:

ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies. ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface.

ProStar’s PointMan is offered as a Software as a Service (SaaS) and has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and their dealer networks. The Company has made a significant investment in creating a vast intellectual property portfolio that includes 16 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines.

For more information about ProStar, please visit www.prostarcorp.com.

Contact:
Page Tucker
CEO & Founder
[email protected]

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

Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company’s future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Company’s recent Annual Management’s Discussion & Analysis filed on SEDAR + on April 21, 2023, for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through the Company’s issuer page on SEDAR + at www.sedarplus.ca.

Read the Full Article at yahoo! finance.

ProStar Announces Stake Center Locating Is Evaluating PointMan

ProStar Announces Stake Center Locating Is Evaluating PointMan

ProStar Announces Stake Center Locating Is Evaluating PointMan

April 23, 2024

TSX Venture Exchange

Trading Symbol: MAPS

OTCQX

Trading Symbol: MAPPF

GRAND JUNCTION, Colo., April 23, 2024 (GLOBE NEWSWIRE) — ProStar Holdings Inc., (“ProStar®” or “the Company”) (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a world leader in Precision Mapping Solutions, is pleased to announce that Stake Center Locating, one of Nation’s largest utility locating firms has signed a deal to trial ProStar’s flagship product, PointMan® Precision Mapping Solution™.

Stake Center Locating is a premium utility locating company with extensive resources and decades of experience; they are also the market leader in high-risk infrastructure and fiber optic network locating. Operating in 48 states, with over 1,200 employees that provide over 850,000 locates per month, Stake Center Locating prioritizes safety, accuracy, and quality above all.

“We take great pride in being the industry leader in utility detection business practices,” stated David Kennedy CIO Stake Center Locating. “We strive to provide the best services to our clients by leveraging new technologies and we are confident that PointMan will contribute materially to workflow digitization.”

With PointMan, Stake Center Locating will revolutionize business practices and manual workflows associated with precisely locating underground infrastructure. The adoption of PointMan signifies a major step forward in Stake Center’s continued commitment to employing cutting-edge technology to deliver unparalleled service and quality to their clients.

“Stake Center’s decision to adopt PointMan will help transform the current utility locating business practices and workflows,” said Page Tucker, CEO of ProStar. “Stake Center’s adoption is going to be a gamechanger that will impact the entire damage prevention industry.“

Prostar continues to make traction with new customers.

  • Q1 2024 saw YY growth of 43% and sequential growth of 229%.
  • Q2 2024 estimate projects sequential growth of 102% and YY growth of 48%.
  • The company’s sales pipeline currently sits at US$3.3 mln for sequential growth of 154% over beginning of year pipeline; currently consisting of US$2.4 mln of large deal opportunities and US$900k of regular pipeline.
  • The company’s pipeline is projected to grow to over $8 mln by end of 2024.

About Stake Center Locating:
Stake Center Locating specializes in providing utility location services to help manage and mitigate risks associated with utility excavation. As a leader in the utility locating industry, Stake Center is committed to using technology to improve service delivery and client satisfaction.

About ProStar:
ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies. ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface.

ProStar’s PointMan is offered as a Software as a Service (SaaS) and has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and their dealer networks. The Company has made a significant investment in creating a vast intellectual property portfolio that includes 18 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines.

For more information about ProStar, please visit www.prostarcorp.com.

Contact:
Joel Sutherland
Investor Relations
970-822-4792

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

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company’s future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Company’s recent Annual Management’s Discussion & Analysis filed on SEDAR + on April 21, 2023, for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through the Company’s issuer page on SEDAR + at www.sedarplus.ca.

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