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ProStar Geocorp, Inc
Improved Asset Management through GaaS® 'Geospatial Intelligence Software as a Service'
Carl Lashua, COOProStar’s solution is designed as a hybrid cloud running on Microsoft Azure and leverages web-services and open data standards to enable the integration of multiple business systems. This approach eliminates data silos, creates a fully integrated enterprise system and makes access to critical information easier, faster and more precise. The hybrid cloud enables seamless connectivity and conflation of data from multiple systems of record. This means that any enterprise data from ERP, GIS and CAD, as well as external data sources including; environmental, weather, geological, and landowners, can be displayed and visualized in a single system and from a single map view.
“We focused on system interoperability, data aggregation, and data provenance in order to improve the entire asset management lifecycle,” says Peter Forster, CIO ProStar. Using ProStar’s solution, office workers and field personnel can easily access, share and qualify asset data as well as identify and rectify any discrepancies.
This improves the availability, timeliness, and quality of data which leads to better decisions and better outcomes
“Our mobile app is designed to capture an asset’s precise location in the field, then binds it to a transaction record and submits the data to the cloud. This improves the availability, timeliness, and quality of data which leads to better decisions and better outcomes,” states Forster.
Transparent Earth’s dashboard contains powerful business tools, like PowerGI™ that provide improved notifications, reporting and analytics. Recently, a midstream client recognized significant business value using ProStar’s solution on a construction project to digitally document the end-to-end workflow process from offloading the pipe to stringing, bending, welding and inspecting. “Using ProStar’s Solution for new construction we were able to commission the project in just a few days as opposed to several months,” says Cheryl Janicek, GIS/Engineering/Pipeline Integrity, SemGroup.
“When I was with the bank, adopting cloud and mobile technology was a game changer for us,” says Carl Lashua, ProStar’s COO and formerly CIO, HSBC Bank, Canada and Europe. He envisions ProStar’s cloud and mobile geospatial solution being the de facto standard for the utility industry. ProStar is exploring other markets including agriculture and the public sector. “Our GaaS solution allows us to quickly expand as other industries begin to embrace cloud, mobile and geospatial solutions,” concludes Lashua. ProStar recently delivered a project to monitor and measure agricultural subsidies that was a major success, and is now leading a smart city initiative to develop innovative geospatial technologies including 3D imagery and Augmented Reality (AR) to improve local government services and more effectively address public safety and environmental concerns.
ProStar Holdings Announces Non-Brokered Private Placement
Thursday, March 28, 2024
GRAND JUNCTION, Colo., -- (OTCQB: MAPPF) (TSXV: MAPS) (FSE: 5D00) ProStar Holdings Inc. (the "Company" or "ProStar®") a world leader in Precision Mapping Solutions®, is pleased to announce a non-brokered private placement for gross proceeds of up to C$2,500,000 (the "Offering").
The Offering will consist of up to 15,625,000 units of the Company (each, a "Unit", and collectively the "Units") at a price of C$0.16 per Unit (the "Offering Price"). Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one common share of the Company at a price of C$0.22 per Common Share for a period of 36 months from the closing date of the Offering, 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 Cdn$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.
Directors and officers of ProStar and shareholders owning more than 10% of the Common Shares may participate in the Offering for a yet to be determined amount. Any such participation in the Offering will constitute a “related party transaction” as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“61-101”). The Offering will be exempt from the formal valuation and minority shareholder approval requirements of 61-101 as neither the fair market value of the securities issued to related parties nor the consideration for such securities is expected to exceed 25% of the Company’s market capitalization.
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 Company may pay a finder’s fee on a portion of the gross proceeds of the Offering. 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.
Company
ProStar Geocorp, Inc
Management
Carl Lashua, COO and Peter Forster, CIO
Description
Precision geospatial solutions and services provider to the utility and
pipeline industry
