Leonovus Inc., (TSX-V: LTV) (OTC: LVNSF) today announces since September 30, 2018 it has received gross proceeds of $2,201,550 CAD from the exercise of warrants prior to their expirations on March 10 and March 20, 2019. All warrants issued by the company that matured on March 10 or March 20, 2019 have now been exercised or expired.

“Leonovus is privileged to have strong support from our investor community as demonstrated by the successful warrant exercise with over 92% of the warrants being exercised,” said Michael Gaffney, CEO of Leonovus. “This additional capital will help our efforts to grow revenues and become a major provider of software solutions for the distributed storage market.”

The March 2019 warrants, that were exercised or expired, eliminated the overhang on the Company’s capital structure, positioning the structure for clean appreciation as revenues increase. There remain 13,750,000 warrants that expire on December 8, 2019 at an exercise price of $0.65 CAD.