SUNNYVALE, Calif., April 24, 2015 /CNW/ -- LeoNovus® Inc. ("LeoNovus") (TSXV: LTV), a leading Internet developer with its SMART Media Platform and distributed Cloud Services announced today that Mat Wilson has resigned from its Board of Directors effective immediately.
"I have enjoyed working with the LeoNovus team as an investor and board member over the last two years and believe the vision is a good one," stated Mat Wilson. "I believe the timing is right for me to make this move but look forward to LeoNovus' success in the market."
"We have appreciated Mat's support and enthusiasm for technology and our efforts to take it to market," said Gordon Campbell, Chairman and CEO of LeoNovus. "He has been a great asset on the board and related extremely well to the team. We wish him the best moving forward."
The Board of Directors has identified candidates for replacement. The nominee for director will be selected on the basis of their experience, achievements, and willingness to devote adequate time to Board duties. Due consideration will be given to the Board's overall balance of diversity of perspectives, backgrounds and experiences. Other factors for consideration are global experience, experience as a director of a public company and knowledge of relevant industries.
About LeoNovus Inc. (www.LeoNovus.com)
LeoNovus® is a publically traded company on the Toronto 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. LeoNovus also utilizes its proprietary processing technology with a unique ability to utilize idle 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.
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 undo 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.
SOURCE LeoNovus Inc.
For further information: For more information, please contact: LeoNovus, T. (408) 541-9400, F. (408) 548-9410, Media@LeoNovus.com, Gordon Campbell, Chief Executive Officer, http://www.LeoNovus.com