OneSoft Solutions Inc. Retracts and Clarifies Information Disclosed in Its Q2 2017 Filings and Refiles the Management Discussion and Analysis

EDMONTON, ALBERTA--(Marketwired - Dec. 9, 2016) - OneSoft Solutions Inc. (the "Company" or "OSS") (TSX VENTURE:OSS), a developer of cloud-based software solutions, announces it is retracting certain disclosures published in a News Release dated October 26, 2016 (the "October 26 News Release") and in the Management's Discussion and Analysis for the three and six months ended August 31, 2016 published October 26, 2016 (the "MD&A"). The Company is also providing a list of risks related to information stated in its News Release published October 27, 2016 (the "Clarifying News Release"). We believe it important that our shareholders are informed of the market we are in and the risks associated with introducing new technology to a mature business market and we are pleased to provide this elevated level of disclosure.

Retraction

The October 26 News Release, on page three, and the MD&A, on page 5, presented a table of values which the Company stated were objectives of Management regarding future potential annualized revenues. No reliance can or should be placed on this financial outlook information as its presentation and related disclosure requirements have not been met, as is required by National Instrument 51-102 Continuous Disclosure parts 4A and 4B. The Company therefore retracts the table of figures along with the two paragraphs immediately preceding the table commencing with "Whereas future revenue generation…." and concluding in the second paragraph with "……are calendar quarters".

The Company also advises and cautions readers that the retracted disclosure may continue to be found in the public domain and the Company advises readers to disregard and not rely on such retracted information.

Clarification of information: Risks Associated with Total Addressable Market ("TAM"), as estimated by the Company

In the Clarifying News Release, the Company explained the term "addressable revenue" (being Management's calculation of the size of the market available to the Company's products and all similar SaaS products in the USA) and the composition and calculation of "total potential addressable revenue of approximately $168 million annually" and "more than $300 million annually" (both, total addressable market, or "TAM"). The Company has determined that it did not provide clear disclosure of the risks that could cause a material change in the TAM. The Company now discloses those risks as follows: