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ProStar Holdings Inc. ("ProStar ® " or "the Company") (OTCQX: MAPPF) (TSXV: MAPS) (FSE: 5D00), a world leader in Precision Mapping Solutions ® is pleased to announce that Canadian Patent No. 2980438 prepared and prosecuted by Lewis Roca LLP, one of the United States leading intellectual property law firms, has been granted to ProStar ® . The patent is considered a pioneer patent in the field of utility data collection and directed to an improved method for calculating tolerance zones for utility assets. The patented method provides critical utility asset data in a more timely and efficient manner which helps to prevent damages to utilities and the environment during infrastructure construction, repair, and groundbreaking activities.
"ProStar is the pioneer in precision utility locating, precision utility mapping, as well as digital management of underground utility and pipeline information," said Raymond R. Tabandeh, the Lewis Roca partner who prosecuted the patent. "This is ProStar's 21 st issued patent and further buttresses ProStar's extensive U.S. and Canadian patent portfolio," added Tabandeh.
ProStar's patents are directed to the processes and methods that digitally capture, record, and display the precise location of buried utilities. With recent advancements in mobile, cloud, and GPS/GNSS technologies combined with an ever-increasing amount of damages to buried utilities caused by construction activities or aging, ProStar's patents position the Company to be a world leader in utility damage prevention.
Click here to see a complete list of ProStar's IP portfolio.
ProStar's Chief Executive Officer and coinventor of the issued patent, Page Tucker stated , "It is a major milestone for any early-stage company to have been issued any number of patents, let alone over 20. Not only does this 21s patent issuance validate that we are the pioneer in precision utility mapping, but this issuance also puts us in a very strong position supported by an extensive IP portfolio to now begin the process of enforcing the patents against those that are potentially infringing."
Click here to see a complete list of ProStar's patents
About Lewis Roca Rothgerber Christie LLP
Ranked in the Top 50 Patent Firms in the U.S. by Juristat, Lewis Roca's patent attorneys have an undergraduate degree in science or engineering, and many of the attorneys have graduate degrees, enabling them to have a deeper understanding of clients' technology. Extensive patent services include: Patent Prosecution, Patent Litigation, Design Patents, International Patent Protection, Patent Opinions & Evaluations, Prior Art Searches & Evaluations, and PTAB Proceedings.
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 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.
For more information about ProStar, please visit www.prostarcorp.com .
Contact:
Joel Sutherland
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) accept 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 .
