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Share Name | Share Symbol | Market | Type |
---|---|---|---|
LeoNovus Inc | TSXV:LTV | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.04 | 0.045 | 0.045 | 0 | 01:00:00 |
In connection with the Offering, the Company paid a finder’s fee of $65,018.24 for finders having raised $928,832 and the Company directly raised $649,625. The securities issued in this Offering are subject to a four (4) month and one (1) day hold period from December 31, 2020. The Company intends on using the proceeds of the Offering for working capital, marketing, and debt repayment.
The two insiders of the Company subscribed for 800,000 Units combined, which was an aggregate amount of $246,000. Participation of insiders of the Company in the Offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61- 101”). The Offering is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. Neither the fair market value of securities issued to insiders nor the consideration paid by insiders will exceed 25% of the Company's market capitalization. The Company did not file a material change report 21 days before closing the Offering because insider participation details had not been confirmed at that time. The Offering is subject to final acceptance by the Exchange.
About Leonovus
Leonovus builds data lakes and smart data management solutions for companies that need data-centric security (FIPS-120 Certified), data discovery, data collation and transport solutions. The system includes an automated policy-based content discovery and categorization and consolidation engine, a unified, centrally controlled data repository that feeds AI, Machine Learning and Analytics engines. Leonovus supplies full data lifecycle management including, automated, policy-based transparent data migration and long-term multi-cloud data control and archiving. It is a distributed solution formed of several key components, including Leonovus Smart Filer, the multi-cloud data controller Vault.
In additions, the advanced geo-distributed architecture minimizes latency, perfects geo-availability, reduces remote backup costs, and meets data sovereignty requirements. With its software and hardware agnostic design, Vault supplies petabyte scalability. It allows the enterprise to use its existing idle storage resources, extend the useable lifespan of depreciated resources, and improve its overall ROI. To learn more, please visit www.leonovus.com.
This press release may have 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.
For More Information, please contact:George PretliChief Financial Officergpretli@leonovus.com
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