Penhall Subsurface, a Premier Provider of Utility Locating and Mapping Services, Adopts ProStar’s PointMan Enterprise Platform
Rhea-AI Summary
ProStar (OTCQX: MAPPF) announced that Penhall Subsurface, a major U.S. provider of utility locating and mapping services, has adopted ProStar’s PointMan Enterprise platform to enhance subsurface investigation data capture and support the construction industry’s shift from paper-based to digital, geospatial workflows.
According to ProStar, the partnership underscores growing demand for precise digital mapping and validates PointMan’s role in infrastructure planning and maintenance. The Board also approved 4,200,000 stock options exercisable at $0.20 for five years to officers and consultants, with 4,000,000 options vesting over four years.
Positive
- Penhall Subsurface adopts PointMan Enterprise, expanding usage with a premier U.S. utility locating provider
- Strategic alignment with Penhall Subsurface highlights market demand for digital geospatial mapping solutions
- 4,200,000 stock options at $0.20 provide long-term incentives to officers and consultants
- 4-year vesting schedule for 4,000,000 options supports management and consultant retention
Negative
- Grant of 4,200,000 stock options at $0.20 may introduce future share dilution for existing shareholders
AI-generated analysis. How Rhea-AI works. Not financial advice.
GRAND JUNCTION, Colo., Aug. 18, 2026 (GLOBE NEWSWIRE) -- ProStar Holdings Inc. (“ProStar®” or the “Company”) (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a leading provider of geospatial intelligence technologies and Precision Mapping Solutions®, is pleased to announce that Penhall Subsurface, a premier provider of utility locating and mapping services in the United States, has adopted ProStar’s PointMan® Enterprise solution to enhance subsurface investigation data capture.
The construction industry is undergoing a significant transition as digital transformation accelerates from early adoption to widespread integration across the sector. Driven by the need for more accurate geospatial data and connected workflows, organizations are turning to advanced technologies to modernize how critical infrastructure is planned, built, and maintained. This evolution marks a significant shift away from antiquated paper-based business processes toward fully connected, data-driven operations. ProStar’s PointMan is at the forefront of this industry transition.
“At Penhall Subsurface, we take great pride in delivering a superior customer experience by leveraging best-in-class technologies like PointMan,” said Matthew Dragon, Executive Vice President of Penhall Subsurface. “The private utility locating industry has lost its customer focus, and we intend to restore it. Our partnership with ProStar and PointMan reflects our client-first approach.”
“I’m very pleased to see a major provider of utility locating and mapping services in the United States embrace digital transformation. This partnership represents a strong strategic alignment between two companies committed to innovation. It also reflects the continued momentum behind PointMan, as demand grows for digital mapping solutions that deliver measurable value. The adoption of PointMan by another premier utility locating and mapping services company is a strong validation of our technology and further underscores the construction industry’s transition to the digital era,” said Michael Wolff, CEO of ProStar.
Stock Option Grant
The Company's Board of Directors has approved the grant of 4,200,000 stock options, (of which 1,075,000 are subject to approval of the Company's next annual general meeting), exercisable at
About Penhall
Headquartered in Irving, Texas, with a network of over 40 branch and service locations throughout the United States, Penhall Subsurface is a division of Penhall Company, North America’s largest provider of specialty concrete services, including cutting and coring, specialized demolition, grinding and grooving, GPR scanning, and digital X-ray. Penhall serves customers across various end markets including commercial, residential, industrial, and infrastructure. In 2023, Penhall was acquired by H.I.G. Capital, LLC and they continue to carry the torch of the great company that LB Penhall founded over 60 years ago. Prompt, courteous customer service, with a focus on safety, quality work and well maintained, clean equipment was a standard that Leroy Penhall established and is still actively maintained today. For more information, please visit www.penhall.com.
About H.I.G. Capital
H.I.G. Capital is a leading global alternative investment firm with
About ProStar
ProStar Geocorp is a leading provider of geospatial intelligence technologies with a mission to become the global standard for mapping and managing critical infrastructure. The Company delivers a Software-as-a-Service (SaaS) solution and an enterprise integration platform that transforms how critical infrastructure assets are identified, managed, and maintained worldwide.
ProStar’s flagship products, PointMan and LinQD, make infrastructure mapping and management more accurate, accessible, and connected than ever before. PointMan provides a powerful cloud and mobile precision mapping solution, while LinQD seamlessly integrates both emerging technologies and legacy systems into a single unified platform. By streamlining the management of critical infrastructure, ProStar’s solutions reduce risk, improve efficiency, and support regulatory compliance in complex, high-stakes environments.
The Company’s growing global customer base includes Fortune 500 corporations, leading construction and engineering firms, utilities, municipalities, and multiple state Departments of Transportation. ProStar has forged strategic alliances with global technology leaders, further extending its competitive advantage and accelerating adoption.
ProStar also holds an extensive intellectual property portfolio, with 16 issued patents in the United States and Canada, securing its leadership position in precision mapping technologies.
Headquartered in Grand Junction, Colorado, ProStar is committed to building a safer, smarter, and more resilient infrastructure future worldwide.
For more information about ProStar, please visit www.prostarcorp.com.
For further information, please contact:
Page Tucker
Founder and Director
970-242-4024
ptucker@prostarcorp.com
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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 24, 2026, 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.
