OTTAWA, Feb. 25, 2019 /CNW/ - Leonovus Inc.
("Leonovus") (TSXV: LTV) Leonovus discovered on February 24, 2019 that it has been the victim of
a sophisticated bank fraud scam, suffering a loss of $571,000 USD. The scam was orchestrated by
various external parties in Singapore, Zurich,
Switzerland and Milan,
Italy.
Leonovus is taking all appropriate steps, including working with
the local police in Milan, to
investigate and bring to justice the perpetrators of this
scam. Leonovus will also work with its insurance providers to
determine whether the losses will be insured.
The losses suffered as a result of this scam has nothing to do
with Leonovus products or core technology and will not affect the
ongoing operations or business of Leonovus.
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.
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.
