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- ProStar Holdings Inc ("ProStar" or the "Company") (TSXV: MAPS) (FSE: 5D00), a world leader in Precision Mapping Solutions®, announced today that the Company has entered into a commercial partnership agreement with Condux InternationalPRISUM Technologies ("Condux"), the premier manufacturer of underground and overhead cable installation tools and equipment for the fiber and electric power markets. Together, the companies' products and services will create the most advanced installation and management services for the fiber optic and electric power industries.
"We identified through our research and due diligence that ProStar would provide us with the most advanced and precise digital mapping solution," stated Brad Radichel , President of Condux International. "Given the seamless integration with our products, ProStar cloud and mobile solution demonstrated it is the best solution for mapping and managing fiber optic and other critical assets in our industry. It will also enhance the real-time sharing of data with personnel in the field and improve our ability to provide best in class solutions for our clients worldwide."
Condux equipment and mapping systems combined with ProStar's® flagship mobile mapping solution, PointMan®, now provides a powerful and user-friendly solution for the fiber optic and electric power industries. PointMan combined with the Condux mapping solution is designed to quickly and precisely locate, capture, and display the precise location of critical utility infrastructure while it is being installed, including the depth, profile, and bend radius.
" Condux International services clients that include the largest technology companies in the world, so the exposure that this partnership provides us worldwide further strengthens our sales and marketing strategy," stated Page Tucker , CEO and Founder of ProStar. "Our goal is to continue to work with leading equipment manufacturers like Condux to provide the most comprehensive, modern, and low-cost data collection solutions to the critical infrastructure industry."
About Condux
Condux International has been manufacturing cable installation tools and equipment for over 70 years, working directly with the electrical contracting, electrical utility, telecom, and CATV industries. Throughout our history, Condux has been committed to innovation. This commitment is illustrated through the continual research and development of new tools for aerial and underground cable installation. www.condux.com
About ProStar® (TSXV: MAPS) (FSE: 5D00)
ProStar® is a world leader in Precision Mapping Solutions®. ProStar's flagship product, PointMan®, is natively cloud and mobile and is offered as a Software as a Service (SaaS). ProStar's solutions seamlessly connect the field with the office and provides the ability to precisely capture, record, display, and manage critical infrastructure data in real-time, 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 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 19 issued patents in the United States and Canada , with more pending. 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.
For more information about ProStar, please visit: www.prostarcorp.com .
Alex Moore
Investor Relations
970-822-4792
Investorrelations@prostarcorp.com
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 .
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SOURCE ProStar Corp
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