OTTAWA, Oct. 23, 2017 /CNW Telbec/ - Leonovus Inc. ("Leonovus, the Company") (TSXV: LTV) announces that it has signed a proof of concept agreement with one of Canada's 'big six' banks (the "Bank"). Leonovus will install its unique blockchain-hardened software ('Leonovus 3.0') to assist the Bank in developing a multi-site data storage management fabric with complete data security, performance and compliance metrics that meet or exceed the Bank's data governance policies.
After installing the Leonovus 3.0 platform, the Company will develop return on investment and total cost of ownership models regarding the reduction and optimization of data storage and data portability for the Bank. Leonovus will also help the Bank to leverage its current storage assets to form a secure and compliant private cloud storage network that will dramatically reduce data storage costs while increasing data security.
Leonovus' unique ultra-secure and compliant data storage solution resonates strongly with the enterprise market. The Leonovus 3.0 blockchain-hardened software-defined storage solution was architected with the fundamental assumption that all enterprise physical and network security systems are vulnerable to failure and that cybersecurity breaches are inevitable. However, Leonovus 3.0 renders the data unreadable by unauthorized persons, stops ransomware, while fully maintaining standards, audit, and chain of evidence compliance requirements.
"Our business development pipeline is strong. We are in discussions with several other Canadian Charter I Banks and over twenty large enterprise customers. Our unique blockchain hardened ultra-secure data storage technology is getting very positive feedback from enterprise customers, and we expect to sign more agreements before the end of the year," said Michael Gaffney, Chairman, and CEO of Leonovus.
Leonovus is a software solutions provider that offers the leading blockchain hardened software-defined object storage solution (SDOSS) and governance, risk management and compliance ('GRC') solution for the modern enterprise. Designed with the IT manager in mind, Leonovus' patented algorithms virtualize, transform, slice and disperse data across a network of on-premises, hybrid or multi-cloud storage nodes – allowing for the most secure yet internally accessible form of object-based data storage that provides governance, risk-management, and compliance across the entire solution. The advanced geo-distributed architecture minimizes latency, optimizes geo-availability, reduces remote backup costs and meets data sovereignty requirements. With its software and hardware agnostic design, Leonovus provides Petabyte scalability and allows the enterprise to utilize its existing idle storage resources, extend the useable lifespan of depreciated resources and improve the enterprise's overall ROI. To learn more, please visit www.leonovus.com.
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 its most recent audited consolidated financial statements, are available at www.sedar.com.
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SOURCE LeoNovus Inc.
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