GRAND JUNCTION, Colo., April 12, 2023 (GLOBE NEWSWIRE) — ProStar Holdings Inc. (“ProStar®” or “the Company”) (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00) (“ProStar®” or “the Company”) a world leader in Precision Mapping Solutions®, is pleased to announce that Pat Clawson has been appointed to the Company’s Board of Directors (“Board”) effective April 11th, 2023. In connection with this appointment, the Board will be increased from 5 to 6 directors.
“My expertise is helping early-stage technology companies like ProStar to execute and become successful,” stated Pat Clawson. “In fact, after doing my research and working with the team, I feel that most of the heavy lifting was behind them and that their focus could shift to attaining three critical goals that include increasing market share, driving revenue, and realizing profitability, which might sound pretty straight forward but it requires 100% buy-in at every level of the company and the implementation of a proven strategy which I have had experience leading in the past 20 years. What excited me the most and why I agreed to join the board at ProStar is that they have an incredible team with a disruptive product that resolves a widespread global issue.”
Pat Clawson is the former CEO of Terbium Labs and Blancco Technology Group (BLTG.L). Clawson also served as Chairman and CEO of Lumension Security and CyberGuard Corporation, a security software company he successfully grew and positioned for acquisition by Secure Computing. Prior to CyberGuard, Clawson served as Senior Vice President of Business Development at Allscripts Healthcare Solutions, a provider of clinical software and information systems. Prior to Allscripts, he was Executive Vice President of Sales and Marketing at MasterChart, a health information technology company. Clawson was also a former member of the board of directors for eDMZ which was sold to Quest Software (now Dell) and served on the board of directors for Prolexic which was acquired by Akamai.
“Pat is a dynamic leader offering substantial talents and proven performance in providing board leadership as well as operational guidance and strategic direction,” stated Herb McKim, Chairman of the Board. “Pat is a welcomed addition as he brings a proven track record and strategic formula that has helped several software companies excel in revenue performance and operational excellence.”
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 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.
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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 Company’s future strategic focus. 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 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 Annual Management’s Discussion & Analysis filed on SEDAR on April 14, 2022, 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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