GRAND JUNCTION, Colo.,
June 29, 2021 /CNW/ -- 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 International/PRISUM 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