Press release from Marketwire
LeoNovus Announces Partnership With KingHorn Enterprises Ltd.
KingHorn to Distribute LeoNovusTV(TM) Into China
Thursday, October 06, 2011
LeoNovus Announces Partnership With KingHorn Enterprises Ltd.06:00 EDT Thursday, October 06, 2011PALO ALTO, CA--(Marketwire - October 06, 2011) - LeoNovus Inc. ("LeoNovus" or the "Company") (TSX-V: LTV) announces today a partnership with KingHorn Enterprises Ltd., located in the Wah Lok Industrial Center of Hong Kong for distribution of LeoNovusTV into China.LeoNovusTV is a high performance browser-based Internet HDTV platform that includes a managed cloud system providing consumer electronic devices such as HDTVs and set top boxes access to all the features, content, and functionality available on the Internet without the malware, security and support issues of a PC. The product is application software and can be loaded onto an existing hardware system adding security, support, proprietary acceleration and personalization capabilities. Upon activation it connects to its cloud system called the WI$E Network(TM), which keeps the system updated and clear of malware and other viruses therefore reducing support. In addition, this system provides updates, apps, services and targeted advertising generating recurring revenue models.KingHorn believes that China is the leading growth region for the 21st Century. To this endeavor, KingHorn has established Guangzhou LiWei Technology Company Limited as China headquarters in Guangzhou, with branch offices in Shenzhen, Shanghai and Beijing. This allows for optimized distribution including support at the local level."Our new partnership with KingHorn will help LeoNovus expand into a very large market," said Dave Fisher, VP of Sales for LeoNovus. "KingHorn Enterprises is a very experienced company with a solid reputation. We are pleased to formalize this partnership.""LeoNovus has succeeded in defining an integrated software platform clearly optimized for Web browsing on high definition televisions, and yet suitable for implementation in small form factor, low cost devices," stated Frank Ma, Managing Partner of KingHorn. "This is the first product we have seen that can deliver a full strength integrated browser to support the complexity of the web with in an easy to use graphical user interface. The wealth of applications and services enabled by the LeoNovusTV platform presents great opportunity in the Chinese market as many users receive broadcast TV via Internet Protocol. Having further capabilities including the ability to play full versions of multi player online games is highly desirable in Asia. We are very excited about the opportunity."The partnership includes distribution of the LeoNovusTV platform onto existing hardware devices as well as shipping bundled products such as Zotac(R) branded hardware systems, which are a good solution for customers looking for complete products."Strategic alliances fuel the growth of technology driven companies in markets where the demand for new products, more quickly at lower prices has never been greater," said Gordon Campbell, CEO of LeoNovus. "Finding strong partners such as KingHorn Enterprises that have an infrastructure in place brings a collaborative business engagement and drives success for both companies. We are looking forward to working with their team."LeoNovus is committed to developing high quality personalized next generation products to deliver "all the video, all the web, all the games, at any time" in a very personalized consumer friendly way. The LeoNovus approach to Internet TV seeks to introduce a unique "profitability" component that has been missing from current attempts to expand the Web onto the TV -- an integrated content management system that will deliver carefully targeted ads, marketing campaigns, services and applications that are linked to individual viewer preferences and interests. This combination of an intuitive smart client and integrated content management is expected to bring a new level of specificity and accountability to revenue models.About LeoNovus Inc. (www.LeoNovus.com)</b>LeoNovus is developing a high performance browser-based Internet platform with a managed system approach that will provide HDTVs and other consumer electronic devices with access to all the features, content, and functionality available on the Web without the malware, security and support issues of a PC. LeoNovus seeks to change the way high-value Internet content is organized, monetized, and delivered on HDTVs, providing a true consumer electronics experience to the largest monitor in the house.About KingHorn Enterprises: (http://www.kinghornhk.com)</b>KingHorn Enterprise (KHE) is a leading distributer in Asia and is financially strong. Key members of the Company have extensive experience backgrounds with multi-national companies such as: Fairchild, Quantum, Karma, CHS, Vtech, Intel, S3, LSI Logic, and gaining experience in being a "supplier" and "distributor." KHE is a "value added" distributor, understanding the "win-win" strategy for both customers and principals bringing market and product solutions to the right customers including local technical support in Hong Kong and China.LeoNovus shares have traded on the TSX Venture Exchange since June 10, 2009. Further information about LeoNovus can be found in its filings with Canadian securities regulators, which filings are available at www.sedar.com.The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.Certain information included in this press release is forward-looking and 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's growth, the state of the financial markets, regulatory risks and other factors. There can be no assurance 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 are cautioned not to place undue reliance on any statements of forward-looking information that speak only as of the date of this release. More detailed information about potential factors that could affect LeoNovus' financial and business results is included in public documents LeoNovus files from time to time with Canadian securities regulatory authorities and which are available at www.sedar.com.All trademarks and brands mentioned in this release are the property of their respective owners.FOR FURTHER INFORMATION PLEASE CONTACT: TSX Venture Exchange Symbole: LTVLeoNovus™ Inc.1800 Embarcadero Rd.Palo Alto, CA 94303 USAFax: (650) 856-8510 (FAX)Phone: (650) 856-8500 (US-PDT)OREmail: media@LeoNovus.comwww.LeoNovus.comORRm. 5, block E, 19/FKingHorn Enterprises Ltd.Wah Lok Industrial Center30-35 Shan Mei StreetFo Tan, N.T., Hong Kong