Leonovus Inc. Announces TSXV Approval of Share Consolidation

OTTAWA, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Leonovus Inc. ("Leonovus" or the "Company") (TSXV: LTV) is pleased to announce that the TSX Venture Exchange (the "TSXV") has approved the previously announced share consolidation (the "Consolidation") of the Company's common shares on the basis of thirty (30) pre-Consolidation common shares for one (1) post-Consolidation common share.

The Consolidation will be effective at the open of the market on October 26, 2020 (the "Effective Date"). The Company will not change its name as part of the Consolidation but will issue new share certificates under a new CUSIP number, which is 526681309 (ISIN: CA5266813099). The Company's common shares will continue to trade on the TSXV under its current symbol, "LTV".

The Company currently has 288,606,639 common shares issued and outstanding. As at the Effective Date, the Company will have approximately 9,620,221 post-Consolidated common shares issued and outstanding.

To learn more, 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 actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with Leonovus' growth, the state of the financial markets, regulatory risks and other factors. There can be no assurance or guarantees that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, Leonovus disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers should not place undue reliance on any statements of forward-looking information that speak only as of the date of this release. Further information on Leonovus' public filings, including its most recent audited consolidated financial statements, are available at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For More Information, please contact:

George Pretli
Chief Financial Officer
[email protected]