Advance United Leverages Open Source Software for the AU Marketplace Platform
Toronto, Ontario–(Newsfile Corp. – March 10, 2022) – Advance United Holdings Inc. (CSE: AUHI) (FSE: 9I0) (the “Company“, or “Advance United” or “AU“) is pleased to announce the company’s commitment to the advancement of the Au Marketplace with open source technologies.
“Free and Open Source Software (“FOSS“) offers indisputable benefits over closed-source alternatives,” states Mr. Kevin Glendenning, Chief Technology Officer of Advance United. “The security, flexibility and cost afford us the opportunity to greatly enhance the Au Marketplace products by leveraging existing code without additional investment.”
The Au Marketplace is being developed to bring together property owners and producers in a vertically integrated community. By leveraging open source geostatistical, visualisation, and modelling tools such as Quantum GIS and Geoscience ANALYST, Advance United will be able to offer property owners, producers, and investors a means of assessing properties in a way that wasn’t previously available in a single tool. These technologies allow the company to integrate leading 3rd party platforms including artificial intelligence, crowdsourcing, and open registries.
“While businesses and governments are investing in efforts to migrate existing infrastructure components to open source software, we have taken an open source first approach at Advance United,” states Mr. Glendenning. “Our technology stack is built on the FOSS model from the beginning and we’re excited about the competitive advantage this grants us in an industry that traditionally relies on proprietary software.”
“Examples of open source dominating the market are everywhere.” Mr. Glendenning goes on to say, “The most interesting projects in the world – and out of this world – are built on open source. US Air Traffic Control, NASA’s Curiosity Rover, and the International Space Station all leverage open source technologies in their mission-critical systems. The largest exchange, the New York Stock Exchange (NYSE) Euronext, has been running on Linux since 2008. Their systems generate 1,500,000 quotes and process 250,000 orders every second, offering acknowledgments of each transaction within two milliseconds.”1
FOSS is a cornerstone of Advance United’s operations, offering its users a greatly enhanced feature set which otherwise wouldn’t be possible without significant investment. The Company is committed to ethical technological sustainability and looks forward to contributing its own software development efforts back to the open source community.
“As the former U.S. Chief Information Officer Tony Scott, co-author of the Federal Source Code policy, blogged ‘This is, after all, the People’s code. Explore it. Learn from it. Improve it. Use it to propel America’s next breakthrough in innovation,'” concludes Mr. Glendenning.
About Advance United Holdings Inc.
Advance United brings an entirely different approach to the mining industry. We don’t mine. Rather, we’ve acquired a portfolio of undervalued gold properties and are increasing their value through the application of modern technology. We have a growing pipeline of similar properties that we are looking to acquire. And now we’ve launched the Au Marketplace. A first of its kind digital platform that connects owners of mineral commodities and deposits with developers and producers.
We are involved exclusively in the acquisition and advancement of past projects – with no intent to bring them back into production or to mine them ourselves. Our expertise is in identifying and acquiring undervalued properties with significant historical work, which were uneconomic at the time, but we believe have economic value at today’s prices.
We fund the development of re-working historic data and applying modern technology to underwrite new qualified reports, document quantifiable resources and reserves to current standards, thereby recognizing the current value.
Our purpose is to bring immediate and long-term value to our partners and shareholders while seeking to eliminate exploration risk, so that we can all advance united in the shortest possible time frame.
For additional information about us, our projects, or to find out how you can list your project in the Au Marketplace, visit www.advanceunited.ca.
Advance United, headquartered in Toronto, Canada, is traded on the Canadian Securities Exchange in Canada under the symbol “AUHI” and the Börse Frankfurt Stock Exchange in Germany under the symbol “9I0.”
James Atkinson, P. Geo., CEO
Tel: (647) 278-7502
Forward-Looking Information and Cautionary Statements
This news release may contain “forward-looking information” within the meaning of applicable securities laws relating to the trading of the Company’s securities and the focus of the Company’s business. Any such forward-looking statements may be identified by words such as “expects”, “anticipates”, “intends”, “contemplates”, “believes”, “projects”, “plans” and similar expressions. Forward-looking statements in this news release include statements regarding the Company’s ability to increase the value of its current and future mineral exploration properties and, in connection therewith, any long-term shareholder value, the Company’s ability to mitigate or eliminate exploration risk, and the Company’s intention to develop a portfolio of historic gold properties. Readers are cautioned not to place undue reliance on forward-looking statements. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the Company will continue its business as described above. Readers are encouraged to refer to the Company’s annual and quarterly management’s discussion and analysis and other periodic filings made by the Company with the Canadian securities regulatory authorities under the Company’s profile on SEDAR at www.sedar.com. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances or actual results unless required by applicable law.