Business
LeoNovus Board of Directors Approve Stock Grant to O&M Partners
SUNNYVALE, Calif. , July 22, 2015 /CNW/ -- LeoNovus ® Inc. ("LeoNovus") (TSXV: LTV...
About this update from Leonovus Inc.
[{"type":"text","content":"\n\nSUNNYVALE, Calif., July 22, 2015 /CNW/ -- LeoNovus® Inc. (\"LeoNovus\") (TSXV: LTV), a leading Internet developer with its SMART Media Platform and geo-distributed cloud services announced that on June 17, 2015, it granted a total of 1,090,000 options to purchase common shares of the Company to an Officer and employees in accordance with the LeoNovus stock option plan via its press release dated July 13, 2015.   \n\nIn addition, stock options to purchase one hundred fifty thousand (150,000) common shares specific to the six (6) month consulting agreement with O&M Partners, LLC for services beginning March 2015 were also granted on June 17, 2015. O&M Partners is functioning as an integral part of Company's overall corporate marketing effort to capitalize on the awareness of the high-growth cloud and IoT markets in which LeoNovus brings unique value. \n\nThe exercise price for the option grants to purchase common shares of the Company on June 17, 2015 to the Officer, employees and O&M Partners is CDN $0.10 per share, which is equal to the closing stock price on the date of grant. \n\nThe Officer and employee options expire (5) five years from the date of grant and will vest over a four (4) year time frame from the date of grant in accordance with the LeoNovus stock option plan.  The O&M Partners options also expire (5) five years from the date of grant and will vest over a (12) twelve month time frame from the date of grant with no more than a quarter of the options vesting in any three month period. \n\nAbout LeoNovus Inc. (www.LeoNovus.com)LeoNovus® is a publicly traded company on the Toronto exchange with offices in Sunnyvale, CA. and Ottawa, Ontario. The Company has launched an innovative high performance browser-based SMART MEDIA PLATFORM with a remotely managed cloud system that provides HDTVs and other connected devices with unprecedented access to features, content, and functionality over the web. This approach delivers an extremely flexible just-in-time service model to multiple markets including residential, hospitality and health care. Additionally, LeoNovus utilizes its proprietary processing technology to utilize idle processors in hardware systems for purposes of building Intelligent Networks. This allows the Company to offer geo-dispersed clo...