OTTAWA, June 25, 2018 /CNW/ - Leonovus Inc.
("Leonovus") (TSXV: LTV) announces major trial of Leonovus software
for a large department in the Government of Canada ("GOC").
In February 2018, Leonovus
announced its approval for the GOC's Build in Canada Program ("BCIP"), which entitles
the Company to a $500,000 purchase
grant and a $1.5M simplified supply
arrangement for any federal government department that purchases
Leonovus software. We are now in detailed discussions with ten
different government departments to install our industry-leading
software defined storage solution. Today we are pleased to announce
closing of a comprehensive trial with one of these departments.
This federal department is faced with managing a massive amount
of data with the continuous pressure to reduce costs, and the
ever-increasing requirements for compliance and ultra-secure data
storage and retrieval.
Applying our unique patented 'encrypt – shred – spread'
data storage algorithms results in military-grade cyber security
and uses the cloud to significantly reduce storage costs. The
Leonovus hybrid, multi-cloud data storage capability ensures that
the department's storage assets are not stranded or locked into a
specific cloud storage provider. Moreover, Leonovus software
enables the department to take advantage of the continuous downward
pricing trends for cloud storage services.
"Having a major Government of Canada department install our product is
tremendous news for the company. We recently completed CENGN
resiliency testing. Our software-defined storage solution
will help government departments dramatically reduce their storage
costs and ensure the protection of public data. This trial will
last three months, and the plan is to move this department into
production and a standard supply arrangement in the fall of 2018.
We anticipate that this is the first of several government
departments to trial and install Leonovus software," said
Michael Gaffney, Chairman, and
CEO.
About Leonovus
We offer the leading software-defined storage (SDS) solution
combined with auditing and management capabilities that contribute
to governance, risk management and compliance (GRC) for the modern
enterprise. Designed with the IT manager in mind, Leonovus'
patented algorithms virtualize, transform, slice and disperse data
across a network of on-premises, hybrid and/or multi-cloud storage
nodes – allowing for the most flexible yet secure object data
storage while ensuring full visibility and compliance across the
entire solution. The advanced geo-distributed architecture
minimizes latency, optimizes geo-availability, reduces remote
backup costs and allows organizations to meet data sovereignty
requirements. With its software- and hardware-agnostic design,
Leonovus is architected for Petabyte scalability and allows the
enterprise to utilize its existing idle storage resources, extend
the useable lifespan of depreciated resources and improve the
enterprise's overall ROI.
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 because 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.
www.leonovus.com
SOURCE Leonovus Inc.