OneSoft Solutions Inc. (TSX-V: OSS) is pleased to announce that it has closed its previously announced short form prospectus offering of 11,500,000 common shares of the Company at a price of $0.80 per Common Share. The Offering also included 1,500,000 Common Shares issued pursuant to the exercise of the over-allotment option in full, for aggregate gross proceeds of $9.2 million.

The Offering was completed on a bought deal basis and was underwritten by Clarus Securities Inc., as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters that included Cormark Securities Inc. and Beacon Securities Limited. In consideration for their services, the syndicate of underwriters received a cash commission equal to 6% of the gross proceeds of the Offering and Broker Warrants equal to 6% of the Common Shares sold pursuant to the Offering. Each Broker Warrant entitles the holder thereof to purchase one Common Share at a price of $1.00 for a period of 12 months following the Offering’s closing date.

The net proceeds from the Offering will be used by the Company to accelerate new product development, marketing and sales initiatives, and for working capital and general corporate purposes.

The shares were offered in each of the provinces in Canada, other than Quebec.

About OneSoft

OneSoft has developed software technology and products that have capability to transition legacy, on-premise licensed software applications to operate on the Microsoft (MSFT:NASDAQ) Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate Data Science, Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions.

OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc., develops and markets revolutionary new SaaS solutions that use Data Sciences, Machine Learning, Predictive Analytics and Big Data to assist Oil & Gas pipeline operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs and address regulatory compliance requirements.