LeoNovus Announces proposed Warrant Extension

Affects Investors in the Private Placement Of July 14, 2011

SUNNYVALE, Calif., June 29, 2012 /CNW/ - LeoNovus Inc. ("LeoNovus" or the "Company") (TSXV: LTV), a leading Internet developer with its high performance browser-based Internet software platform announced today that it has applied to the TSX Venture Exchange ("TSXV") for approval to extend the expiry dates of certain common share warrants issued as part of a non-brokered private placement that closed on July 14, 2011. The current listed expiration date of the warrants is July 14, 2012, and, if the application is approved, it will be extended an additional (6) six months for a newly proposed expiration date of January 14, 2013.

All other terms and conditions of the warrants, including the exercise price of $ 0.50, remain unchanged. For information pertaining to the private placement and these warrants, please see the Company's news release dated and posted on www.sedar.com July 14, 2011. The proposed extension remains subject to the TSXV approval.

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.

SOURCE LeoNovus Inc.

For further information:

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

http://www.leonovus.com


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