Leonovus Inc. victim of bank fraud scam

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.