ProStar Enters The Municipal Market Sector With The Signing Of New Hampton, Iowa
Aug 3, 2021
TSX Venture Exchange
Trading Symbol: MAPS
Frankfurt Stock Exchange
Trading Symbol: D500
GRAND JUNCTION, Colo., Aug. 2, 2021 /PRNewswire/ — ProStar Holdings Inc. (“ProStar®” or the “the Company”) (TSXV: MAPS) (FSE: 5D00), a world leader in Precision Mapping Solutions®, is pleased to announce the signing of the City of New Hampton, Iowa. New Hampton becomes the first municipality to adopt ProStar’s PointMan® cloud and mobile solution as its primary system of record (SOR) to manage its critical infrastructure.
“ProStar’s solution was chosen for many key reasons, including the fact it is very affordable, easy to use, and provides exactly what we need to help manage our critical infrastructure,” stated Casey Mai, Public Works Director, City of New Hampton. “We have been looking for a system to replace our current asset management solution for some time as it was becoming cumbersome and difficult to maintain, and PointMan Pro met all of ours requirements.”
According to the 2010 U.S. Census, there are approximately 35,000 municipalities with a population of less than 10,000. This represents a tremendous opportunity for ProStar, as a large number of these municipalities do not have a comprehensive SOR for capturing, recording, and managing their critical infrastructure. ProStar’s solution is designed to enhance the workflow processes and business practices of stakeholders that own, construct, manage, or maintain critical infrastructure, including municipalities.
Page Tucker, President and CEO of ProStar, stated today: “Signing our first municipality is a huge milestone for us as we are not only moving into another major market sector with tremendous growth potential, we are also demonstrating that we have developed a best in class and affordable solution for managing critical infrastructure for stakeholders at every level including, construction companies, engineering & surveying firms, government agencies, and now municipalities.”
About the City of New Hampton:
New Hampton was founded in 1855, is the county seat for Chickasaw, Iowa and is a proud member of the Main Street Iowa Community program. Main Street communities capitalize on the unique identity, assets, and character of their historic commercial districts. New Hampton is known for its quality of life, beautiful parks, and active economic development. As of the 2010 Census, the City of New Hampton had a population of just over 3,500.
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 are with the world’s leading geospatial technology providers, data collection equipment manufacturers, and their dealer networks, including Trimble® Juniper® Systems, Bad Elf, Vivax-Metrotech, Radiodetection®, and Subsite® Electronics.
The Company has made a significant investment in creating a vast intellectual property portfolio that includes 20 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. The leadership team includes Vasa Dasan, former CTO of Sun Microsystems, Carl Lashua, previous Chief Information Officer of HSBC Canada and Europe, and Matthew Breman, prior Executive for Disney.
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 Information Circular filed on SEDAR on November 20, 2020 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.sedar.com.