LTV LeoNovus Inc

Leonovus Inc., (“Leonovus”) (TSXV: LTV) announces the filing of its unaudited Interim Financial Statements and Management Discussion and Analysis (“MD&A”) for the quarter ended June 30, 2022. Our MD&A contains a comprehensive discussion of Leonovus’ financial position and results of operations and is available on SEDAR at www.sedar.com. Amounts are in Canadian dollars.

Leonovus launched its Torozo product in May 2022. While the Company is excited about its long-run value, Torozo will not generate enough revenues soon to sustain the Company. Four years of work with the Canadian Federal Government has resulted in several valuable assets – such as our standing offer for secure file sharing/transfer, our Software License Supply Arrangements for both Smart Filer and Vault, and helpful sales connections and proof of concept completions. However, while Leonovus continues to develop sales inside the federal government, there is no clear path to revenue in the short run.

About Leonovus

Leonovus is a secure data management software company. The Leonovus suite of data management tools offer customers a complete end-to-end data-centric solution. This solution can stand on its own or integrates with the organization's zero-trust strategy and architecture. It takes seamless advantage of the organization's existing storage infrastructure and network architecture, working on-premises in the cloud. It extends the data-centric controls across the entire architecture, including cloud resources.

To learn more, please visit www.leonovus.com.Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

For More Information, please contact:George PretliChief Financial Officergpretli@leonovus.com