Leonovus announces $500,000 from the Government of Canada’s BCIP program

January 24th, 2018

Leonovus is pleased to announce that after four months of technical and market evaluation by the Government of Canada (“GOC”), the Company was pre-qualified to receive up to a $500,000 CDN purchase order from the Build in Canada Program (“BCIP”) to install its industry-leading blockchain hardened storage technology in one or more government departments. Because of the BCIP rules, that help accelerate the purchasing process for new Canadian innovations by the GOC, there is the potential for three additional $500,000 purchase orders, paid from departmental budgets, for an aggregate revenue potential of $2M in 2018. The next step is to choose the sponsoring GOC department.

“Over the past year, at numerous meetings, we presented our technology to several different Canadian government departments. Each of these departments could immediately use our unique software-defined storage technology to reduce the cost and increase the security of their data storage along with full compliance. We anticipate that it will take a few months to select the sponsoring department(s), create a statement of work, and sign the final contract. The Government of Canada is about to become a large Leonovus reference customer, which is hugely important for our marketing communications to other large enterprises”, said Michael Gaffney, Chairman, and CEO.

“Having a major government department install our product, because of the BCIP, is tremendous news for the company. We are pleased to support our latest customer with our unique blockchain-hardened, petabyte-scale software-defined storage solution will help these government departments dramatically reduce their storage costs and ensure the protection of their data”, said Dan Willis, CTO.