LeoNovus Announces proposed Warrant Extension

CNW Group

Affects Holders of Purchase Price Warrants Issued on October 29, 2010

SUNNYVALE, Calif. , Oct. 11, 2013 /CNW/ - LeoNovus Inc. ("LeoNovus" or the "Company") (LTV.V), a leading Internet developer with its high performance browser-based Internet software platform announced today that it has applied to the TSX Venture Exchange ("TSXV") for approval to extend the expiry dates of the purchase price warrants issued as part of the corporation's qualifying transaction ("QT") on October 29, 2010 (the "PP Warrants"). The PP Warrants were issued to certain shareholders of Personal Web Systems, Inc. ("PWS") as partial compensation for the acquisition of all of the issued and outstanding securities of PWS pursuant to the terms of the QT. The current expiration date of the PP Warrants is October 29, 2013 and, if the application is approved, it will be extended an additional two (2) years to a newly proposed expiration date of October 29, 2015 .

All other terms and conditions of the PP Warrants, including the exercise price of $0.20 , remain unchanged. For more information pertaining to the QT and the PP Warrants, please see the Company's filing statement posted on www.sedar.com on October 20 , 2010. The proposed extension remains subject to TSXV approval.

About LeoNovus Inc. (www.LeoNovus.com)
LeoNovus Inc., offers a unique technology approach to a diverse group of markets that require efficient processing, preservation, and accurate management of immense amounts of data with the benefit of significant energy and real-estate cost reductions, while at the same time offering companies and organizations within these markets the ability to create new revenue streams. Currently, LeoNovus has made inroads into the Internet, data center, hospitality, and health care markets. The LeoNovus Software platform also supports connected devices with access to all the features, content, and functionality available on the Web without the malware, security and support issues of a PC. LeoNovus seeks to change the way high-value Internet content is organized, monetized, and delivered to end users. Learn more at www.LeoNovus.com

­­­­­­LeoNovus shares have traded on the TSX Venture Exchange since June 10 , 2009. Further information about LeoNovus can be found in its filings with Canadian securities regulators, which filings are available at http://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.

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 undue 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 www.sedar.com

SOURCE LeoNovus Inc.

Contact:

Jim Fredrickson, Chief Financial Officier, (408) 541-9400, F: (408) 541-9410, IR@LeoNovus.com,

http://www.leonovus.com/

View Comments