Further Clarification Regarding Announcement Today

SUNNYVALE, Calif., March 20, 2015 /CNW/ -- LeoNovus^® Inc. ("LeoNovus") (TSXV: LTV), a leading Internet developer with its SMART Media Platform and distributed Cloud Services, announced today they have retained O&M Partners, a New York, NY based company with award-winning communications and financial professionals, to target Institutional investors, stock brokers, family offices and independent money managers in the U.S. for the purpose of increasing awareness of LeoNovus.

LeoNovus is a publically traded, technology-based company on the TSX venture exchange, addressing the global high-growth cloud and data services marketplace. LeoNovus software, systems, and services are based on breakthrough and proprietary processing technology that is changing the way cloud, enterprise, business and home computing are done and managed today. It addresses the rapidly growing processing demands for the cloud-based markets of today and in the future.

The initial marketing effort will be focused in 22 non-deal markets in the U.S.  This campaign is an integral part of the Company's overall marketing effort that is focused on the United States and Canada, where they expect to capitalize on the awareness of the high-growth cloud and IoT markets in which LeoNovus brings unique value.  

Specific to the Consulting Agreement, O&M Partners have been retained for six (6) months for these services beginning March 2015.  The anticipated costs associated with these activities, subject to regulatory approval, is that LeoNovus will grant to O&M Partners incentive stock options to purchase one hundred fifty thousand (150,000) common shares at an exercise price equal to the closing stock price on the date of grant. The options will be granted in two equal parts, based on TSX regulations and restrictions and Board approval.  Additional expenses will be covered with pre-approval.

About LeoNovus Inc. (www.LeoNovus.com)

LeoNovus^® is a publically traded company on the Toronto exchange with offices in Sunnyvale, CA. and Ottawa, Ontario.  The Company has launched an innovative high performance browser-based SMART MEDIA PLATFORM with a remotely managed cloud system that provides HDTVs and other connected devices with unprecedented access to features, content, and functionality over the web without the cost, overhead and support of a PC.  This approach delivers an extremely flexible just-in-time service model to multiple markets including residential, hospitality and health care.   In parallel, LeoNovus utilizes its proprietary processing technology with a unique ability to "light up" idle dark processors in hardware systems for purposes of building Intelligent Networks.  This allows the Company to offer geo-dispersed cloud services for new revenue streams while reducing costs and increasing performance via distributed networks.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information included in this press release is forward-looking and may involve risks and uncertainties.  The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with LeoNovus' growth, the state of the financial markets, regulatory risks and other factors.  Forward-looking statements included or incorporated by reference in this press release include statements with respect to proposed terms of, and the intended use of proceeds of, the Offering. There can be no assurance that any statements of forward-looking information contained in this release will prove to be accurate.  Actual results and future events could differ materially from those anticipated in such statements.  These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, LeoNovus disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.  Readers are cautioned not to place undo reliance on any statements of forward-looking information that speak only as of the date of this release.  More detailed information about potential factors that could affect LeoNovus' financial and business results is included in public documents LeoNovus files from time to time with Canadian securities regulatory authorities and which are available at www.sedar.com.

 

SOURCE LeoNovus Inc.

LeoNovus, T. [phone], F. [phone], [email protected], Gordon Campbell, Chief Executive Officer; O&M Partners, LLC, New York, T. [phone] x104, C. [phone], Campbell McCrary, Vice President, http://www.leonovus.com