OTTAWA, Sept. 20, 2018 /CNW/ - Leonovus Inc.,
("Leonovus" or the "Company") (TSXV: LTV) (OTC: LVNSF). On
October 23, 2017 the Company
announced that it had signed a proof of concept ("POC") contract
with a major Canadian bank. Leonovus is pleased to announce that it
has signed a new contract with the bank to install its software in
a production deployment.
Over the last ten months, Leonovus has successfully demonstrated
the benefits, and the performance, of its secure object-based
storage solution in the bank's lab with non-production data. This
contract marks the transition from a ten-month long laboratory test
and verification process to an in-production deployment of the
Leonovus software defined storage solution into a major financial
institution. Leonovus will aggregate the institution's
on-premises storage resources with multiple subscribed public
clouds to provide the data resiliency, security, and architecture
necessary for the bank to benefit from the lower costs and the
increased flexibility from this hybrid, multi-cloud, data storage
strategy.
"Migrating the data storage of large enterprises from
on-premises to the public-cloud, or hybrid-cloud, while providing a
hyper-secure single storage gateway to these storage endpoints, is
a key strategic objective of the Company's technology. Enterprise
customers, like the bank, can now easily use any public cloud
solution without sacrificing corporate data governance, or
controls, and benefit from significant cost savings while
preventing cloud service provider or storage vendor lock-in. I
would like to give kudos to the entire Leonovus team for the speed
at which this project closed. To close an enterprise customer of
this size from POC to production in ten months is extraordinary
work," said Michael Gaffney,
Chairman and CEO.
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.
