Business
LeoNovus® Sees a Strong Sign of Support from Current Warrant Holders
100% of Management and Board of Directors Participate In Exercise of Purchase Price Warrants...
About this update from Leonovus Inc.
[{"type":"text","content":"\n\n100% of Management and Board of Directors Participate In Exercise of Purchase Price Warrants\n\n\nSUNNYVALE, Calif., Oct. 30, 2013 /CNW/ - LeoNovus Inc. (\"LeoNovus\") (TSXV: LTV), a leading Internet Company with its SMART Media Platform and distributed Cloud Services announced today a strong overall participation in the exercise of existing Purchase Price warrants, including 100% participation from the management and Board of Directors. The purchase price warrants were part of the corporation's qualifying transaction (\"QT\") on October 29, 2010 and were issued to certain shareholders of Personal Web Systems, Inc. (\"PWS\") as partial compensation for the acquisition of all issued and outstanding securities of PWS pursuant to the terms of the QT. The warrants were priced at $0.20 with an expiration date of October 29, 2013. For more information pertaining to the QT and the Purchase Price Warrants, please see the Company's filing statement posted on www.sedar.com. There were a total of 3,582,211 million purchase warrants issued as part of the QT and 2,626,368 million were exercised prior to their expiration.\n\"We are delighted to see the support for our strategy along with a business model that can succeed in any economic cycle,\" said Gordon Campbell, CEO of LeoNovus. \"We look forward to a multi-market deployment in the coming year.\" \nLeoNovus is committed to developing high-quality personalized products that deliver turnkey capabilities to multiple, compute-intensive market segments. The LeoNovus SMART Media Platform provides a flexible multi-dimensional approach that can service multiple vertical markets via an easy-to-use graphical user interface (GUI) that can be customized to fit the market of choice. The product includes an integrated, remotely managed system that keeps the LeoNovus-enabled connected devices updated and free of viruses, while delivering carefully targeted services and applications that are linked to preferences. In addition, LeoNovus is deploying its Dark Core technologies to create intelligent networks that improve efficiency and performance of computing resources, which lower costs while generating new revenue streams by enabling distributed Cloud Services at the Edges.\nAbout LeoNovus Inc. (www.LeoNovus.com)LeoNovus Inc., offers a unique technology approach to a diverse group of markets that re...