VANCOUVER, April 21, 2014 /CNW/ - Legend Power Systems Inc. (TSX-V: LPS) is pleased to announce it has completed its second of the two warrant
incentive exercise programs which were launched in March 2014 to
encourage the early exercise of outstanding warrants. A total of
2,201,000 warrants eligible under the second program were exercised for
a total of $330,150, raising a total under both programs of $1,543,352.
The common shares issuable on the exercise of 172,333 additional
"incentive" warrants issued to an officer and director of the Company
and a company controlled by him are subject to four month restricted
resale periods expiring July 21, 2014 (100,000 shares) and August 5,
2014 (72,333 shares). Any common shares issued on the exercise of the
other additional "incentive" warrants will not be subject to any resale
The proceeds from the early exercise of these warrants will be used for
general working capital purposes.
About Legend Power Systems Inc.
Legend Power Systems Inc. (www.legendpower.com) is a leading electrical energy conservation company that manufactures
and markets a patented device to help commercial and industrial
customers achieve significant energy savings through voltage
optimization. Legend Power's electrical savings solution helps
companies reduce their electricity bills, maintenance costs, and
increases the life of electrical equipment, while contributing to a
reduction in greenhouse gas emissions.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Legend Power Systems Inc.
For further information:
C.E.O. and President
Legend Power Systems Inc.
+ 1 778 945 1501