Vancouver, British Columbia--(Newsfile Corp. - February 1, 2022) - Tevano Systems Holdings Inc. (CSE: TEVO) (FSE: 7RB) ("Tevano", or the "Company") is very pleased to announce that it and its wholly-owned subsidiary Illuria Security, Inc. ("Illuria") have signed a non-binding memorandum of understanding with the Innovation Center Foundation, in Armenia ("Cyhub Armenia") ("MOU").
Cyhub Armenia is the main cybersecurity hub in Armenia, a joint initiative of the World Bank, Armenian Government, Enterprise Incubator Foundation, National Polytechnic University of Armenia (NPUA), IBM, CISCO, Yerevan Computer Research and Development Institute (YCRDI), Innovative Solutions and Technologies Center (ISTC).
Under the terms of the MOU, Illuria and Cyhub Armenia will work together to integrate Illuria's cyber-deception software technology and expertise with Cyhub Armenia's network of public, private, and government organizations to increase the competitiveness of the Armenian economy by creating innovative solutions specialized in cybersecurity, and by facilitating the skills development for preparation of qualified specialists.
Mari Barseghyan, Director of the Innovation Center Foundation, in Armenia, said, "We are committed to support the Armenian digital economy and competitiveness. Illuria's cyber-deception software solutions and expertise will play an important role in helping us ensure we deliver cyber education programs and greater digital security for organizations in Armenia."
Cyber-deception software utilizes a strategy of implementing "lures and decoys" to divert attack attempts away from critical resources. The premise is that by keeping attack attempts in a controlled environment, network security administrators can monitor, evaluate, prioritize and implement an action plan before a critical breach is experienced.
About Tevano
Tevano Systems Holdings Inc., through its operating subsidiaries, is a technology company with custom and proprietary hardware and software technologies. Its subsidiary, Illuria Security, Inc. is an early stage software development company whose technology involves active cyber deception to protect critical network systems of enterprise systems of all sizes. Using custom software decoys and lures, Illuria's software seeks to solve the challenge of cyber-attacks by detecting threats, systematically deceiving attackers, and actively deterring future attacks. Its subsidiary Tevano Systems Inc. is the developer of Health Shield™, an AI-driven, electronic tablet that video displays a user with their body temperature and other information. It provides detailed reports of all scans done throughout an enterprise.
For more information, please visit www.tevano.com.
On behalf of the Board of:
TEVANO SYSTEMS HOLDINGS INC
David Bajwa, Chief Executive Officer
davidb@tevano.com
778 388 4806
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and matters. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, successful negotiation of definitive agreements with Cyhub Armenia, implementation of Illuria's technology, the Company's ability to raise further capital, and the ability of Illuria to reach certain milestones. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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