OTTAWA, August 22, 2021 (GLOBE NEWSWIRE) – Leonovus Inc., (âLeonovusâ) (TSXV: LTV) announces the filing of its unaudited interim financial statements and MD&A (âManagement report) For the quarter ended June 30, 2021. Our MD&A contains a complete analysis of the financial condition and results of operations of Leonovus and is available on SEDAR at www.sedar.com. Amounts are in Canadian dollars.
The company closed a $ 3.44 million short form prospectus offering on May 2, 2021. These funds have supported the hiring of additional sales staff and software developers and the funding of new marketing and product initiatives. .
âAs noted in previous communications, our sales strategy is focused on the Canadian Federal Government (â GOC â) as a set of key customers. We have been in this strategy for three years, and the number of departments interested in our technology has increased considerably during the last quarter. We are currently responding to a major GOC call for tenders for our XVault and Smart Filer technology. Due to the recent acceleration of interest in the GOC, product management has prioritized the completion of several XVault features, which will delay our standalone ransomware offering by a quarter. However, protection against ransomware will be a key feature of our XVault solution, âsaid Michael Gaffney, President and CEO of Leonovus Inc.
âGiven our current acceleration in the GOC, several resellers and systems integrators have started to engage and test our technology. We plan to announce new GOC distribution partners in the coming months, âsaid Gaffney.
Leonovus is a software provider that delivers storage solutions that detach your data, enabling you to embrace cloud storage in a secure, simple, and cost-effective way, while giving you the flexibility to tackle the cloud storage landscape. constantly evolving.
Leonovus Smart Filer is an information lifecycle management (ILM) solution that analyzes existing file storage and expands its capacity automatically and transparently. Based on customer-defined policies, infrequently accessed files are automatically deleted from high-cost, high-performance primary storage and placed in secondary or cloud storage, without any change in how users and applications access them.
Designed with the IT manager in mind, Leonovus Vault uses patented algorithms to analyze, classify, encrypt, shred and distribute data over a network of on-premises, hybrid or multi-cloud storage nodes – enabling the most secure but accessible form in internal object-based data storage 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 independent design, Vault offers scalability on the petabyte. It enables the business to utilize its existing idle storage resources, extend the useful life of depreciated assets, and improve the overall business return on investment.
For more information, please visit www.leonovus.com.
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 the actual results or events. Factors that could cause a difference include, but are not limited to, competitive developments, risks associated with the growth of Leonovus, the state of the financial markets, regulatory risks and other factors. There can be no assurance or guarantee that the forward-looking statements contained in this press release will prove to be correct. Actual results and future events could differ materially from those anticipated in these statements. These statements and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates on which they are made and expressly qualified in their entirety by this notice. Unless applicable securities laws otherwise require, Leonovus disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Readers should not place undue reliance on forward-looking statements that speak only as of the date of this release. Further information on the public documents filed by Leonovus, including its most recent audited consolidated financial statements, is available at www.sedar.com.
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