09:25:17 EDT Thu 30 May 2024
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Prostar Holdings Inc
Symbol MAPS
Shares Issued 137,862,670
Close 2024-04-22 C$ 0.15
Market Cap C$ 20,679,401
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Prostar Holdings to provide PointMan for trials

2024-04-23 12:32 ET - News Release

Mr. Page Tucker reports


Stake Center Locating, one of the nation's largest utility locating firms, has signed a deal to trial Prostar Holdings Inc.'s flagship product, PointMan Precision Mapping Solution.

Stake Center Locating is a premium utility locating company with extensive resources and decades of experience; they are also the market leader in high-risk infrastructure and fiber optic network locating. Operating in 48 states, with over 1,200 employees that provide over 850,000 locates per month, Stake Center Locating prioritizes safety, accuracy, and quality above all.

"We take great pride in being the industry leader in utility detection business practices," stated David Kennedy CIO Stake Center Locating. "We strive to provide the best services to our clients by leveraging new technologies and we are confident that PointMan will contribute materially to workflow digitization."

With PointMan, Stake Center Locating will revolutionize business practices and manual workflows associated with precisely locating underground infrastructure. The adoption of PointMan signifies a major step forward in Stake Center's continued commitment to employing cutting-edge technology to deliver unparalleled service and quality to their clients.

"Stake Center's decision to adopt PointMan will help transform the current utility locating business practices and workflows," said Page Tucker, CEO of ProStar. "Stake Center's adoption is going to be a gamechanger that will impact the entire damage prevention industry."

Prostar continues to make traction with new customers.

Q1 2024 saw YY growth of 43% and sequential growth of 229%.

Q2 2024 estimate projects sequential growth of 102% and YY growth of 48%.

The company's sales pipeline currently sits at US$3.3 mln for sequential growth of 154% over beginning of year pipeline; currently consisting of US$2.4 mln of large deal opportunities and US$900k of regular pipeline.

The company's pipeline is projected to grow to over $8 mln by end of 2024.

About Stake Center Locating:

Stake Center Locating specializes in providing utility location services to help manage and mitigate risks associated with utility excavation. As a leader in the utility locating industry, Stake Center is committed to using technology to improve service delivery and client satisfaction.

About ProStar:

ProStaris a world leader in Precision Mapping Solutionsand 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 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 18 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.

For more information about ProStar, please visit www.prostarcorp.com .


Joel Sutherland

Investor Relations


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