David Belgum Appointed as LeoNovus' Chief Financial Officer

Brings a Strong Financial Background in Software Technology Companies

SUNNYVALE, Calif., March 21, 2014 /CNW/ - LeoNovus® Inc. ("LeoNovus") (TSXV: LTV), a leading Internet and Cloud developer with its SMART Media Platform and geo-dispersed distributed cloud data centre announced today that David Belgum has been appointed as LeoNovus' Chief Financial Officer. He will be replacing Gary Martin, a Director of LeoNovus, who has acted as interim Chief Financial Officer since Dec. 26, 2013.

Belgum has a significant amount of financial experience and was previously Chief Financial Officer of Prozyme, Inc. Prior to that, he was President and Chief Financial Officer of Belgum Financial Solutions, Inc. working with companies such as Obopay and Invio Software.

"David has a strong financial background with software companies and understands key metrics in building multi-year financial plans to increase the company's value," said Gordon Campbell, Chairman and CEO of LeoNovus. "We are delighted he has agreed to join the team. I want to thank Gary for his contribution to the Company as interim Chief Financial Officer and look forward to his continued service as a Director for the Company."

The appointment of David Belgum is effective March 17, 2014, subject to acceptance by the TSX Venture Exchange.

About LeoNovus Inc. (www.LeoNovus.com)
LeoNovus® is a publically traded company on the TSX Venture Exchange with offices in Sunnyvale, CA. and Ottawa, Ontario. The Company has launched an innovative high performance browser-based SMART MEDIA PLATFORM with a remotely managed cloud system that provides HDTVs and other connected devices with unprecedented access to features, content, and functionality over the web without the cost, overhead and support of a PC. This approach delivers an extremely flexible just-in-time service model to multiple markets including residential, hospitality and health care. In parallel, LeoNovus utilizes its proprietary Dark Core™ technology with a unique ability to "light up" idle dark processors in hardware systems for purposes of building Intelligent Networks. This allows the Company to offer geo-dispersed cloud services for new revenue streams while reducing costs and increasing performance via distributed networks.

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.

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 their most recent audited consolidated financial statements, are available at www.sedar.com.

SOURCE: LeoNovus Inc.

For further information:

LeoNovus, T. (408) 541-9400, F. (408) 541-9410, Media@LeoNovus.com, Gordon Campbell, Chief Executive Officer


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