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Leonovus Announces an Agreement with Entoro Capital LLC of Houston Texas to Lead the Financing of the Galaxa Project
Leonovus Announces an Agreement with Entoro Capital LLC of Houston Texas to Lead the Finan...
About this update from Leonovus Inc.
[{"type":"text","content":"\n\n\n\nLeonovus Announces an Agreement with Entoro Capital LLC of Houston Texas to Lead the Financing of the Galaxa Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, May 30, 2019\n\n\n\nOTTAWA, May 30, 2019 /CNW/ - Leonovus Inc., (\"Leonovus, the Company, we and our\") (TSXV: LTV) (OTC: LVNSF) today announced that it has engaged Entoro Securities, LLC (\"Entoro\" or the \"Placement Agent\") of Houston, Texas to act as the lead placement agent for the offer and sale of the Company's digital security called GAAX. Entoro is an investment bank and advisory group for digital securities. The Galaxa project and the offering of GAAX were previously disclosed in news releases dated December 21, 2017, September 4, 2018, November 2, 2018, November 12, 2018, and January 16, 2019.\nThe Offering \nGAAX will be sold in the offering at two prices. The first USD$5,000,000 of GAAX will be sold at a price of USD$0.00075 each, with the remainder being sold at a price of USD$0.001 each. The minimum subscription amount will be USD$25,000. The Placement Agent will build a syndicate of broker dealers to raise a minimum of US$10,000,000 and a maximum of US$25,000,000 paid in USD, EUROS, Bitcoin (BTC) or Ethereum (ETH) on a best efforts basis (the \"Offering\"). Regardless of payment by the investor in fiat or cryptocurrency, it will be immediately converted into USD at the prevailing market rate. There can be no guarantee of the success of the Offering or any part thereof including the ability to convert investments from BTC or ETH into USD.\nProceeds of the Offering will be deposited by the Placement Agent in escrow at Signature Bank of New York pending completion of the Offering, upon which the gross proceeds will be delivered to the Company less the fees payable to advisors as disclosed below.\nGAAX will not be tradeable upon the closing of the Offering. The Offering is being conducted under exemptions from the prospectus requirement of Ontario securities law, and, in the United States, under comparable exemptions. In Ontario, GAAX will not be ...