Leonovus Announces Releases 2022 Audit Results, Announces New CFO and Business Update

OTTAWA, May 01, 2023 (GLOBE NEWSWIRE) -- Leonovus Inc. ("Leonovus") (TSXV: LTV) announces the filing of its audited 2022 financial statements. Our MD&A contains a comprehensive discussion of Leonovus' financial position and results of operations and is available on SEDAR at www.sedar.com. Amounts are in Canadian dollars.

The Company is pleased to announce that Board and Audit Committee has appointed Chris Carmichael as Chief Financial Officer. For over twenty years, Chris has held chief financial officer positions for numerous TSX Venture Exchange and Canadian Securities Exchange companies. Mr. Carmichael specializes in financial accounting and reporting for Canadian publicly listed companies and pre-public companies. Mr. Carmichael is a Chartered Professional Accountant.

As noted in earlier news releases, the Company's current strategy is to find partners, mergers or acquisitions that can leverage our significant investment in secure data management and data movement products. Discussions with several potential merger or acquisition companies occurred over the last quarter and are ongoing.

Torozo.com, launched in April 2022, is a hyper-secure cloud file sharing and storage solution, and continues operations and garnering interest from companies requiring advanced data protection solutions.

About Leonovus

Leonovus is a secure data management software company. The Leonovus suite of data management tools offer customers a complete end-to-end data-centric solution. This solution can stand on its own or integrates with the organization's zero-trust strategy and architecture. It takes seamless advantage of the organization's existing storage infrastructure and network architecture, working on-premises in the cloud. It extends the data-centric controls across the entire architecture, including cloud resources.

To learn more, please visit www.leonovus.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

For More Information, please contact:

Michael Gaffney, Chair and CEO
[email protected]