Leonovus Private Placement

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[{"type":"text","content":"\n\n\n\nLeonovus Private Placement\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, Sept. 8, 2017\n\n\n\nOTTAWA, Sept. 8, 2017 /CNW/ - LeoNovus® Inc. (\"LeoNovus\") (TSXV: LTV) announces today a fully-subscribed non-brokered private placement of CDN $1,500,000 by way of issuance of up to 30,000,000 Units at a price of CDN $0.05 per Unit.  Each Unit will be comprised of one common share in the capital of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one (1) Common Share for a period expiring on the day that is eighteen (18) months after the issuance of the Units at a price of CAD $0.075 per Common Share. The Warrant will expire at 5:00 p.m. (Ottawa time) on the expiration date.\n\nIn connection with the Offering, the Company will pay cash commissions of seven percent (7%) of the principal amount raised and will issue broker units (the \"Broker Units\") in an amount up to seven percent (7%) of the number of Units issued to investors introduced to LeoNovus, exercisable on the same terms as the private placement for a period of eighteen (18) months from the closing date of the Offering. The securities issued pursuant to the Offering are subject to a four (4) month and one (1) day hold period from the date of issuance.  The Offering is anticipated to close on or about September 19, 2017.  Completion of the Offering is subject to regulatory approval, including acceptance and approval of the TSX Venture Exchange. \n\n\"The proceeds from the Offering will be allocated towards marketing, product development support of the company's new Blockchain products and working capital. We continue to get significant interest from enterprise customers regarding our core storage, security and compliance architecture and believe that our Blockchain strategy will further enhance our product offering,\" said Michael Gaffney, Chair and CEO. \n\nAbout Leonovus Inc. (www.leonovus.com)Leonovus is a cloud solutions software provider that offers th...

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