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LeoNovus Inc (2)
Symbol LTV
Shares Issued 20,900,996
Close 2022-03-18 C$ 0.205
Market Cap C$ 4,284,704
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LeoNovus wins government standing offer software deal

2022-03-21 09:08 ET - News Release

Mr. Michael Gaffney reports


LeoNovus Inc. has been awarded a standing offer contract to supply the government of Canada (GoC) with a next-generation litigation software -- secure file transfer solution.

LeoNovus Vault, Smart Filer and XVault technology are the foundation technologies used to build this new hyper-secure file sharing, file transfer and file storage solution called Torozo, which will also launch as a software-as-a-service available to individuals, businesses, and enterprises soon.

"A key corporate objective, for the past four years, was to develop and deploy secure file sharing, data management and data storage solutions for the government of Canada. This standing offer provides a process to sell a secure data transfer solution to any government department through defined pricing and proof of concept to validate and obtain future call-ups," said Michael Gaffney, chair and chief executive officer.

The next phase is completing the final in-production testing of the functional specifications, achieving all data and personnel security requirements, completing ISO (International Organization for Standardization) and SOC (System and Organization Controls) certifications for the Department of Justice and Shared Services Canada, anticipating a call-up.

LeoNovus's Torozo product is an ultrasimple, ultrasecure file sharing, file transfer and file storage solution, and a subsegment of the quarter-trillion-dollar cloud data storage market. Torozo's secure file sharing market segment has a compound annual growth rate of 25 per cent and is growing to more than $4-billion by 2025. Torozo supports individual, business and enterprise customers.

"There are numerous economic drivers that support our product vision and its benefits. In March, 2021, Shared Services Canada and the Department of Justice issued an RFP with the essential requirement being secure file sharing within and outside the government. We believe that this is a general requirement for many government departments, federal and local, and the private sector. The pandemic increased the need for secure work-at-home solutions. Sharing, storing and transferring medical records, mergers and acquisitions, financings, non-fungible tokens, and cryptocurrency backups are other large market segments. Torozo will solve many other secure data sharing, transfer and storage needs," said Mr. Gaffney.

About LeoNovus Inc.

LeoNovus is a secure data management and movement software company. The LeoNovus suite of data tools offer an organization what it needs for a complete end-to-end data-centric security solution. This solution can stand on its own or easily integrate 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 and in the cloud. Together, these tools can store, migrate and access the organization's data with high security without sacrificing ease of use. The data-centric security controls and monitoring are extended across the entire architecture, including cloud resources. And it supplies these cybersecurity capabilities for the entire lifespan of the data and beyond. The flexible and straightforward solution does not require changes in the method of data use. Applications, services and users all interact with the data the same way they always have. The system ensures the right users get access to the correct data quickly and securely. In addition to working with existing systems, the LeoNovus solution aids in the organization's digital transformation by enabling ultramodern data concepts necessary for the data-driven world. These capabilities are included in an automated solution requiring little operations effort, and no new skills or expertise.

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