OTTAWA, March 21, 2019 /CNW Telbec/ - Leonovus Inc.,
("Leonovus or the Company") (TSXV: LTV) (OTC: LVNSF) today
announces since September 30, 2018 it
has received gross proceeds of $2,201,550 CAD from the exercise of warrants
prior to their expirations on March
10 and March 20, 2019. All
warrants issued by the company that matured on March 10 or March 20,
2019 have now been exercised or expired.
"Leonovus is privileged to have strong support from our investor
community as demonstrated by the successful warrant exercise with
over 92% of the warrants being exercised," said Michael Gaffney, CEO of Leonovus. "This
additional capital will help our efforts to grow revenues and
become a major provider of software solutions for the distributed
storage market."
The March 2019 warrants, that were
exercised or expired, eliminated the overhang on the Company's
capital structure, positioning the structure for clean appreciation
as revenues increase. There remain 13,750,000 warrants that expire
on December 8, 2019 at an exercise
price of $0.65 CAD.
This press release may contain forward-looking statements and
information, which 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. There
can be no assurance or guarantees 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 should not place undue reliance on any
statements of forward-looking information that speak only as of the
date of this release. Further information on
Leonovus' public filings, including its most recent audited
consolidated financial statements, are available
at www.sedar.com.
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.
SOURCE Leonovus Inc.