LeoNovus and Ottawa-based KasTech Inc. Sign Strategic Consulting Agreement

Brings Expertise in Capital Market Strategies and Business Acceleration to Fuel Revenue Growth Opportunities

SUNNYVALE, Calif., Aug. 24, 2015 /CNW/ -- LeoNovus® Inc. ("LeoNovus" or the "Company") (TSXV: LTV), a leading developer of geo-distributed cloud services announced today, that the Company has entered into a strategic consulting relationship with KasTech Inc. ("KasTech").  KasTech has track-record expertise in transforming organizations to leverage disruptive technology and innovative business practices to accelerate overall corporate objectives. KasTech's professional services have implemented cloud programs into large private and public sector organizations.  Their proven methodology begins with a strategy to transform businesses into a lean, agile, customer-centric organization, followed by business execution and the implementation of the Cloud, Big Data, and the Internet of Things (IoT) technologies.

As part of the consulting agreement, KasTech seeks to develop key products and services to appeal to the growing market demands of IoT and Big Data based on LeoNovus' unique and innovative dark-core processing and geo-distributed networking technologies.  In addition, the two companies will collectively refresh and enhance the sales and marketing activities to drive revenue acceleration and elevate the LeoNovus brand to increase corporate visibility. 

The incremental product line will be accomplished through a Team 2 approach in which the team is paid as consultants.  All consulting fees are payable on success and may be subject to TSX approval.  It should be noted that all IP and new products are to be the property of LeoNovus under this agreement.

"Strong market leadership is built through partnerships and engagement with the broader marketplace," said Gordon Campbell, CEO of LeoNovus. "We are very pleased to be working with KasTech and welcome their contribution on business alignment for growth and broader capital market visibility." 

"We see major opportunity with LeoNovus' technology to accelerate their business for revenue growth and the potential to become market leaders in the next evolution of cloud computing." stated Paul J. Harding, founder and president of KasTech.  "LeoNovus has a wealth of intellectual property and innovative technologies that can pioneer the forecasted $1.7 trillion dollar 'IoT' market by 2020."

"The Team 2 product approach is ideal," remarked Dan Willis, president and chief architect of LeoNovus. "The vision and expertise they bring in terms of knowledge of the cloud and IoT market allows for immediate and positive impact to the company."

About LeoNovus Inc. (www.LeoNovus.com)
LeoNovus® is a publicly 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.  This approach delivers an extremely flexible just-in-time service model to multiple markets including residential, hospitality and health care.  Additionally, LeoNovus utilizes its proprietary processing technology 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.

About KASTECH INC.  www.KasTech.com 
KasTech Inc. founded in 2012, is a business acceleration company focused on modernizing organizations to adopt disruptive, innovative business practices and technologies. KasTech Inc. has a track record of successfully instituting innovation in large, complex Businesses and Canadian Government Departments. KasTech's Innovative approach lays down a service-centric, agile foundation for the business to develop and deliver innovative services rapidly to accelerate business objectives, growth, and new revenue-generating opportunities for its clients. Through its successes, KasTech has defined a transformational business methodology to guide organizations to becoming more client centric, having a more productive workforce, being more agile in both management and product development, positioning products in the current market, and using innovation as a catalyst to institute change and accelerate business.

LeoNovus shares are traded on the TSX Venture Exchange. 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 Debentures. 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, registered trademarks and brands mentioned in this release are the property of their respective owners.

SOURCE LeoNovus Inc.

For further information: Gordon Campbell, Chief Executive Officer, T: [phone], F: [phone], [email protected], http://www.LeoNovus.com