ProStar Announces Stake Center Locating Is Evaluating PointMan

GRAND JUNCTION, Colo., April 23, 2024 (GLOBE NEWSWIRE) -- ProStar Holdings Inc., ("ProStar" or "the Company") (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a world leader in Precision Mapping Solutions, is pleased to announce that Stake Center Locating, one of Nation’s largest utility locating firms has signed a deal to trial ProStar’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: