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  • Leonovus issued 6,143,572 units at a price of $0.56 per unit for gross proceeds of $3,440,400.32
  • Research Capital Corporation acted as lead agent and sole bookrunner
  • Each unit consists of one common share and one common share purchase warrant
  • Each warrant can be exercised into one common share for $0.70 for a period of 3 years following completion of the offering
  • Warrants are anticipated to commence trading on the TSXV under the symbol LTV.WT following confirmation from the TSXV
  • LeoNovus is a secure data management software company
  • LeoNovus Inc. (LTV) is down 3.64 per cent, trading at C$0.53 per share at 1:25 pm ET

Leonovus (LTV) has announced the closing of its marketed short-form prospectus offering.

The company issued 6,143,572 units at a price of $0.56 per unit for gross proceeds of $3,440,400.32.

The offering was led by Research Capital Corporation as lead agent and sole bookrunner, on behalf of a syndicate of agents, including Canaccord Genuity Corp. 

Each unit consists of one common share and one common share purchase warrant. Each warrant can be exercised into one common share for $0.70 for a period of 36 months following completion of the offering.

The agents have been granted an over-allotment option exercisable at any time up to 30 days from the closing of the offering. Under the terms of the over-allotment, agents have the option to increase the size of the offering by up to 15 per cent.

Net proceeds from the offering will be used for product development and management, sales and marketing, operating expenses, and general and administrative expenses.

The TSX Venture Exchange has conditionally accepted the listing of the warrants. Warrants are anticipated to commence trading on the TSXV under the symbol LTV.WT two business days following completion of all listing requirements of the TSXV, and issuance of the TSXV’s bulletin confirming the date of listing.

LeoNovus is a secure data management software company.

LeoNovus Inc. (LTV) is down 3.64 per cent, trading at C$0.53 per share at 1:25 pm ET.

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