Pinetree Capital Executive Brings Expertise in the Canadian Capital Market
SUNNYVALE, Calif., Nov. 27, 2013 /CNW/ - LeoNovus® Inc. ("LeoNovus") (TSXV: LTV), a leading Internet and cloud developer with its SMART Media® Platform and distributed Cloud Services announced today that Mathew Wilson has been appointed to its Board of Directors. Wilson is currently the vice president, special situations at Pinetree Capital Ltd, a diversified investment and venture capital firm headquartered in Toronto, Canada. Wilson has spent several years covering and advising on a diverse range of global small cap stocks. He received his Masters of Finance from Queen's University and graduated Cum Laude with a BA in Economics and Philosophy from Bucknell University. Wilson has also previously served as a director for a TSX venture listed company and is currently serving on the board of directors for a private company. "We are extremely pleased to have Mathew join the Board," said Gordon Campbell, chairman and CEO of LeoNovus. "Pinetree Capital is a big supporter of the LeoNovus technology and business strategy, and we look forward to him adding value with his knowledge of the capital markets."
Wilson is appointed to replace Mike Inskip, who resigned from the Board today. Inskip was a director of Work Horse Capital and Strategic Acquisitions Ltd. prior to its qualifying transaction (QT) on October 29, 2010 and he continued as a Director of the Corporation after the QT. Complete details on the QT can be found on www.sedar.com. "We appreciate the contributions and service to LeoNovus from Mike," stated Gordon Campbell. "We wish him continued success in his current endeavors."
LeoNovus is currently ramping its SMART Media™ Platform and distributed cloud services into the hospitality market. The platform delivers a full suite of interactive in-room infotainment, which provides just-in-time services and updates such as in-room dining, promotional advertising and real-time guest information. Its newly designed easy-to-use interface with a full browser also allows for guest access to email and Facebook, or sourcing local hometown news and entertainment.
Additionally, the platform is enhanced by LeoNovus' proprietary dark-core processing technologies that optimize an internal network for purposes of adding new revenue streams from cloud services. LeoNovus is currently operating a geo-dispersed distributed data center with locations in the cities of Stratford, Ottawa and Sunnyvale, CA. Adding hotels from the hospitality sector onto the network brings distributed cloud services into large urban areas, which benefits this service by being close to where the data is located for companies that want real-time analytics with faster delivery to mobile devices. This capability, as well as the ability to have built in data redundancy across geo-dispersed end points, delivers premium, cost-effective cloud services.
About LeoNovus Inc. (www.LeoNovus.com)
LeoNovus® is a publically traded company on the TSX Venture Exchange in Toronto 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. In parallel, LeoNovus utilizes its proprietary Dark Core™ technology with a unique ability to "light up" idle dark 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.
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.
SOURCE: LeoNovus Inc.
For further information:
LeoNovus, T. (408) 541-9400, F. (408) 541-9410, [email protected], Gordon Campbell, Chief Executive Officer