Leonovus Inc. Announces 2021 Year-End Financial Results and

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OTTAWA, April 28, 2022 (GLOBE NEWSWIRE) — Leonovus Inc. (“Leonovus”) (TSXV: LTV) announces the filing of its audited financial statements, annual information form and MD&A (“Management report“) for the year ended December 31, 2021. The MD&A contains a detailed analysis of Leonovus’ financial condition and results of operations and is available on SEDAR at www.sedar.com.

“Our primary focus for product development and sales has been the federal government for the past three years. From 2019 to 2021, the Departments of Justice (“Justice”) and National Defense (“Defence”) completed testing of our Vault and Smart Filer technologies. On March 21, 2022, Leonovus received a standing offer to provide the Government of Canada (“GC”) with a secure next-generation file sharing, transfer and cloud storage solution. XVault was the original name of the product, now renamed Torozo. Justice and Shared Services Canada completed production testing of the software last week, and as of April 27, 2022, we have moved into the next phase of evaluation,” said Michael Gaffney, President and CEO.

“Our hyper-secure cloud sharing, transfer and storage software Torozo www.torozo.com (“SaaS”) was officially launched in the private sector on April 26, 2022. Torozo is virtually the identical product selected by the GoC, along with additional features required by corporate and enterprise markets.Security of private personal information is paramount in today’s digital world.Torozo’s business segment is the share and transfer market billions of rapidly growing secure files.Examples of feature requirements for this market include a hyper-secure digital vault with secure sharing and work-from-home capabilities for legal documents, medical information, content created, backing up hard and soft crypto wallets, NFT storage and backup, working from home and secure messaging says Gaffney.

About Torozo

Torozo is hyper-security for simplified data. The key factors of cybersecurity are the CIA (confidentiality, integrity and availability). Torozo hyper-secures data by strictly adhering to these precepts. With a combination of controls, encryption, lifecycle management, separation and reliability, Torozo data is safer than if it were in your own hands.

About Leonovus

Leonovus is a software provider that offers storage solutions that detach your data, enabling you to adopt cloud storage in a secure, simple and cost-effective way while giving you the flexibility to cope with the ever-changing landscape. cloud storage.

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 the actual results or events. Factors that could cause a difference include, but are not limited to, competitive developments, risks associated with Leonovus’ growth, the state of financial markets, regulatory risks and other factors. There can be no assurance or warranty that the forward-looking information statements contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in these statements. These statements and all subsequent written and oral statements containing forward-looking information are based on management’s estimates and opinions as of the dates they are made and expressly qualified in their entirety by this notice. Except as 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 forward-looking statements, which speak only as of the date of this release. Further information on Leonovus’ public filings, including its most recent audited consolidated financial statements, is available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information please contact:

George Pretli
Financial director
[email protected]

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