OneSoft Solutions Inc. Provides Update Regarding Claim Against Sylogist Ltd.

EDMONTON, ALBERTA--(Marketwired - May 1, 2015) - OneSoft Solutions Inc. (the "Company" or "OneSoft") (TSX VENTURE:OSS), a North American developer of cloud business solutions is providing this update regarding the Company's Statement of Claim against Sylogist Ltd. ("Sylogist").

OneSoft filed its Statement of Claim against Sylogist on February 13, 2015, wherein OneSoft seeks to recover approximately $529,000 owed to OneSoft by Sylogist, being the balance of the purchase price as calculated by OneSoft for the sale of the Serenic operating companies to Sylogist in July, 2014 (the "Sale").

Sylogist subsequently filed a Statement of Defence whereby Sylogist denies OneSoft's claim for $529,000 and claims that approximately $335,000 is owed to Sylogist for financial losses that Sylogist allegedly incurred post-Closing of the Sale. Sylogist also filed a counterclaim for $1,750,000 against OneSoft and three of its senior management personnel (the "Individuals") for alleged breaches of the Share Purchase Agreement (the "Counterclaim").

OneSoft and the Individuals, through their counsel, have filed a Statement of Defense to Sylogist's Counterclaim, wherein Sylogist's allegations are denied. We believe that Sylogist's Statement of Defence and Counterclaim, or alternatively, portions thereof, disclose no reasonable claim or defence to a claim, and are frivolous, irrelevant and improper. OneSoft intends to vigorously defend these matters, to take all appropriate steps to protect our interests, and to pursue collection of the balance of the purchase price owed by Sylogist.

More information can be obtained by reviewing the public court documents that pertain to this action number 1503-02555, as filed in the Court of Queen's Bench, Edmonton Judicial Centre. A copy of these documents will also be posted on SEDAR at www.sedar.com in the "Material Change Report" category under OneSoft Solutions Inc.

About OneSoft Solutions Inc.

OneSoft Solutions Inc. has developed software technology and products that have capability to transition legacy, on-premise licensed software applications to operate on the Microsoft Cloud, in conjunction with Office 365, CRM Online and Microsoft Azure. OneSoft's business strategy is to seek opportunities to convert legacy business software applications that are historically cumbersome to deploy and costly to operate, to a more cost efficient subscription based business model utilizing the Microsoft Cloud and be accessible by any online capable device. OneSoft Solutions owns two subsidiaries, OneCloudCo Limited and CloudCo Solutions Inc., which conduct USA and Canadian operations, respectively. Visit www.onenfp.com for more information.