A State Department of Transportation (DOT) Has Entered Into A Formal Contractual Agreement To Evaluate ProStar’s PointMan
Rhea-AI Summary
ProStar Holdings (OTCQX: MAPPF) has secured a formal contract with a State Department of Transportation (DOT) to evaluate its PointMan® solution for potential statewide adoption. The evaluation will assess PointMan's capabilities in streamlining operations, improving workflows, and enhancing safety during infrastructure construction and maintenance activities.
Following the successful implementation at the Colorado Department of Transportation, ProStar is experiencing increased interest from other DOTs. The company is actively engaging with multiple state and local governmental agencies, indicating growing market demand for digital infrastructure management solutions.
Additionally, ProStar's Board has approved a grant of 3.3 million stock options at $0.14 CDN per share, exercisable over five years, to company directors, officers, consultants, and employees.
Positive
- New DOT contract for PointMan evaluation indicates market expansion potential
- Successful adoption by Colorado DOT demonstrates product validation
- Growing interest from multiple state and local agencies shows increasing market demand
Negative
- Stock option grant of 3.3 million shares at $0.14 CDN could lead to potential dilution
News Market Reaction
On the day this news was published, MAPPF declined 0.22%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
GRAND JUNCTION, Colo., July 15, 2025 (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 a State Department of Transportation (DOT) has entered into a formal contractual agreement to evaluate ProStar’s flagship solution, PointMan®, for state wide adoption.
This latest engagement from another DOT marks a significant milestone as ProStar continues to drive digital transformation in the management of critical infrastructure. The DOT’s evaluation will focus on how PointMan streamlines operations, improves workflows, and enhances safety during construction and maintenance activities.
“The adoption of PointMan by the Colorado Department of Transportation has already proven to be a success,” stated Page Tucker, CEO and Founder of ProStar. “As a result, we are realizing a high level of interest from several other DOTs that are taking proactive steps to improve the management of critical infrastructure and enhance safety.”
PointMan is becoming a recognized leader throughout the industry in providing precision mapping solutions to state and local agencies seeking to digitally transform their asset management practices. The Company is actively engaged with other governmental agencies at the state and local levels which are currently assessing PointMan, reflecting the accelerating demand for advanced solutions to improve the management of critical infrastructure.
Stock Option Grant
Additionally, the Company’s Board of Directors has approved the grant of 3.3 million stock options, each exercisable at a price of
About ProStar
ProStar is a leading software company specializing in patented cloud and mobile mapping solutions for the critical infrastructure industry. Its flagship product, PointMan, streamlines the management of above- and below-ground assets like utilities and pipelines, improving workflows across their lifecycle.
Offered as a SaaS platform, PointMan integrates with top geospatial tech providers and equipment manufacturers. ProStar holds 16 issued patents in the U.S. and Canada, supporting its strong IP portfolio. For more information about ProStar, please visit www.prostarcorp.com
Contact:
Page Tucker
CEO & Founder
ptucker@prostarcorp.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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 terms and conditions of the Company’s future plans. 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 most recent Annual Management’s Discussion & Analysis filed on SEDAR + on April 19, 2024, 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.sedarplus.ca
FAQ
What is the new contract ProStar (MAPPF) secured with the State DOT?
How many stock options did ProStar (MAPPF) grant and at what price?
Which DOTs are currently using ProStar's (MAPPF) PointMan solution?
What is ProStar's (MAPPF) PointMan solution used for?
