Leonovus Terminates Share Purchase Agreement

Executive Summary

• Leonovus Inc. terminated its amended and restated share purchase agreement with Wellfield Technologies Inc., ending the proposed acquisition of Wellfield’s subsidiary, Tradewind Markets Inc.
• The transaction would have been treated as a reverse takeover on the TSX Venture Exchange; its cancellation removes that potential corporate restructuring.
• Leonovus indicated that additional business updates will be provided in the near future.

Key Details

• Agreement terminated: Amended and restated Share Purchase Agreement dated September 21, 2025 between Leonovus Inc. and Wellfield Technologies Inc.
• Target of acquisition: Tradewind Markets Inc., a subsidiary of Wellfield Technologies Inc.
• Transaction nature: Would have been considered a reverse takeover under TSX Venture Exchange policies.
• Termination impact: No longer proceeding with the proposed acquisition; potential effects on Leonovus’s growth strategy and capital structure remain uncertain.
• Future communications: Leonovus will issue further business updates shortly.

Notable Quotes

• “Leonovus will provide further business updates in the near future.” – Michael Gaffney, Chair and CEO, Leonovus Inc.