OTTAWA, June 25, 2018 /CNW/ - Leonovus Inc. ("Leonovus") (TSXV: LTV) announces major trial of Leonovus software for a large department in the Government of Canada ("GOC").
In February 2018, Leonovus announced its approval for the GOC's Build in Canada Program ("BCIP"), which entitles the Company to a $500,000 purchase grant and a $1.5M simplified supply arrangement for any federal government department that purchases Leonovus software. We are now in detailed discussions with ten different government departments to install our industry-leading software defined storage solution. Today we are pleased to announce closing of a comprehensive trial with one of these departments.
This federal department is faced with managing a massive amount of data with the continuous pressure to reduce costs, and the ever-increasing requirements for compliance and ultra-secure data storage and retrieval.
Applying our unique patented 'encrypt – shred – spread' data storage algorithms results in military-grade cyber security and uses the cloud to significantly reduce storage costs. The Leonovus hybrid, multi-cloud data storage capability ensures that the department's storage assets are not stranded or locked into a specific cloud storage provider. Moreover, Leonovus software enables the department to take advantage of the continuous downward pricing trends for cloud storage services.
"Having a major Government of Canada department install our product is tremendous news for the company. We recently completed CENGN resiliency testing. Our software-defined storage solution will help government departments dramatically reduce their storage costs and ensure the protection of public data. This trial will last three months, and the plan is to move this department into production and a standard supply arrangement in the fall of 2018. We anticipate that this is the first of several government departments to trial and install Leonovus software," said Michael Gaffney, Chairman, and CEO.
We offer the leading software-defined storage (SDS) solution combined with auditing and management capabilities that contribute to governance, risk management and compliance (GRC) 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 and/or multi-cloud storage nodes – allowing for the most flexible yet secure object data storage while ensuring full visibility and compliance across the entire solution. The advanced geo-distributed architecture minimizes latency, optimizes geo-availability, reduces remote backup costs and allows organizations to meet data sovereignty requirements. With its software- and hardware-agnostic design, Leonovus is architected for 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.
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 because 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.
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.
SOURCE Leonovus Inc.
For further information: Investor Relations: George Aizpurua, email@example.com, 647.500.2389/416.742.5600