LeoNovus announces Game City™

Full support for Multi-Player Online, Flash/HTML5 Casual, Cloud gaming and Native version Games

SUNNYVALE, Calif., Sept. 24, 2012 /CNW/ - LeoNovus Inc. ("LeoNovus" or the "Company") (TSXV: LTV), a leading Internet developer with its high performance browser-based Internet software platform today announced its Game City program. This program includes a Game icon and a game launcher on its LTV graphical user interface that allows the user to create a favorites list and access games in a single click whether they are stored locally, through the browser, on Facebook or in the cloud.

LeoNovus is committed to supporting high quality game play leveraging its proprietary acceleration technologies to deliver full screen/full frame rate 1080p interactive game play to the largest screen in the house, the TV. This includes full support for Flash / HTML5 and discrete graphics processors. In addition, LeoNovus can support its game partners through its WISE Network™ with complete analytical data and the ability to offer subscriptions, Freemium and micro-transactions business model options. Freemium models allow the user to choose whether or not he/she purchases certain additional features within a game. As there are no initial costs involved, a larger number of players can be attracted to the game through this model. It is estimated that virtual goods worth USD 6 billion will be sold in 2013(1).

Online gaming has potentially been the single biggest change in the industry for decades. Rich interaction with other players across the world has given gaming a whole new dimension. Social games go a step further by allowing 'friends' to play with each other. According to PricewaterhouseCoopers, video games will be the second-fastest growing market in the entire media sector, trailing only Internet Advertising. Worldwide online gaming market revenue is forecast to reach USD 13.7 billion in 2013 growing at a CAGR of 10.6%.

"LeoNovus offers greater opportunities for game developers to bring their products to market," said Randel Riess, CEO of Prairie Games. Prairie Games is the developer of Minions of Mirth™ a top cult hit indie MMORPG (massively multi-player online role playing game). "We are delighted to see platforms where we can offer our products that support quality and interactive game play online."

LeoNovus is committed to developing high quality personalized next generation products to deliver all the video, all the web, all the games, at any time in a very personalized consumer friendly way. The LeoNovus approach to Internet TV seeks to introduce a unique profitability component that has been missing from current attempts to expand the Web onto the TV: an integrated content management system that will deliver carefully targeted ads, marketing campaigns, services and applications that are linked to individual viewer preferences and interests.

Update on Private Placement

LeoNovus has reserved a market price with the TSXV for a non-brokered private placement of up to CDN$3,000,000 in gross proceeds (the "Offering") based on the sale of up to 20,000,000 units (the "Units") priced at CDN$0.15 per Unit. Each Unit is expected to be comprised one (1) common share in the capital of the Company (the "Common Share") and one (1) Common Share purchase warrant entitling the holder to purchase one (1) Common Share for a period of two (2) years from the closing date of the Offering at an exercise price of CDN$0.24 per Common Share. The Offering is anticipated to have an initial close on or about Sept. 28, 2012 with the agreement of the TSX Venture Exchange.

About LeoNovus Inc. (www.LeoNovus.com)

LeoNovus is developing a high performance browser-based Internet platform with a managed system approach that will provide HDTVs and other consumer electronic devices with access to all the features, content, and functionality available on the Web without the malware, security and support issues of a PC. LeoNovus seeks to change the way high-value Internet content is organized, monetized, and delivered on HDTVs, providing a true consumer electronics experience to the largest monitor in the house.

The securities offered in the Offering have not been and will not be registered under the U.S. Securities Act as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale or solicitation would be unlawful.

LeoNovus shares have traded on the TSX Venture Exchange since June 10, 2009. Further information about LeoNovus can be found in its filings with Canadian securities regulators, which filings are available at http://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.

Certain information included in this press release is forward-looking and 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. Forward-looking statements included or incorporated by reference in this press release include statements with respect to proposed terms of, and the intended use of proceeds of, the Offering. There can be no assurance 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 are cautioned not to place undue reliance on any statements of forward-looking information that speak only as of the date of this release. More detailed information about potential factors that could affect LeoNovus' financial and business results is included in public documents LeoNovus files from time to time with Canadian securities regulatory authorities and which are available at www.sedar.com.

All trademarks and brands mentioned in this release are the property of their respective owners.

(1) Source Cartagena Capital 2012

SOURCE: LeoNovus Inc.

For further information:

Jim Fredrickson, Chief Financial Officer, +1-408-541-9400, fax, +1-408-541-9410, IR@LeoNovus.com

http://www.LeoNovus.com


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