TORONTO, ONTARIO--(Marketwired - Oct. 17, 2016) - Leo Acquisitions Corp. (NEX BOARD:LEQ.H) (TSX VENTURE:LEQ.H) (the "Company" or "Leo") wishes to announce that it intends to proceed with a consolidation of its issued and outstanding common shares ("Common Shares") on the basis of one post-consolidation Common Share for 3.3 pre-consolidation Common Shares (the "Consolidation"). The Consolidation was previously approved by the shareholders of the Company at an annual and special meeting of the shareholders of the Company held on October 6, 2016, and has been approved by the TSX Venture Exchange (the "TSXV").