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Sales Update - Leonovus Signs 3.0 Customer
PR Newswire

OTTAWA, Aug. 3, 2017 /CNW/ - Leonovus Inc. ("Leonovus") (TSXV: LTV) announces that it has signed its first Leonovus 3.0 customer.  The first phase of the agreement requires Leonovus to implement its 3.0 technology in a proof of concept ("POC") mode. This phase will last forty-five days. The customer is a large international marketing organization and one of the first requirements is for Leonovus to demonstrate the software's capability to increase the velocity of the company's data collaboration services to its new customers. During the POC, Leonovus will also demonstrate its data storage ROI while maintaining data security and compliance. Another key deliverable is the demonstration of the simplicity and flexibility of the Leonovus solution.

"This is an excellent Leonovus 3.0 customer. We estimate the monthly recurring revenue for this customer to be greater than $10K, or more, per month if the POC proves out and the customer signs up for the second phase and puts our technology into full production. We have a number of other potential POC's that we hope to close in the next sixty days", said Michael Gaffney, Chair and CEO

About Leonovus Inc.
Leonovus offers a leading software-defined object storage solution (SDOSS) with a comprehensive risk management and compliance solution 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 or multi-cloud storage nodes – allowing for the most secure yet internally accessible form of object-based data storage that provides across the entire solution. The advanced geo-distributed architecture minimizes latency, optimizes geo-availability, reduces remote backup costs and meets data sovereignty requirements. With its software and hardware agnostic design, Leonovus provides 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.

About First Canadian Capital
Based in Toronto and celebrating its 20th year, First Canadian develops strategic platforms for North American corporations that are utilized to gain exposure and recognition to the capital markets. First Canadian's core competencies are found in identifying quality assets and undervalued companies with high growth potential.

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.

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