OTTAWA, Sept. 16, 2016 /CNW/ - LeoNovus Inc. ("LeoNovus") (TSXV: LTV, OTCBB: LVNSF) announces that it has received $330,000 from the sale of a software license to Soft Machines Inc. Soft Machines was then itself reportedly bought by Intel Corp in the last few days. The $330,000 non-dilutive inflow of cash is the first tranche of a previously announced expected inflow of approximately 1.3M CDN$. The company expects the remaining $1M from director and corporate loans to be received by the end of October 2016.
"These funds are critical to the development of our direct and channel sales programs, to leverage our new Oracle Cloud Partner status; the sales programs will be announced in October," said Dan Willis CEO and Chief Architect of LeoNovus Inc.
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SOURCE LeoNovus Inc.
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