Legend Power Systems Appoints new Chief Financial Officer, adds Additional Board Member and Grants Incentive Stock Options

VANCOUVER, Feb. 11, 2016 /CNW/ - Legend Power Systems Inc. (TSXV: LPS) is pleased to announce the appointment of Steve Vanry, CFA as Chief Financial Officer (CFO) and Dave Guebert, to the Company's Board of Directors. Both appointments are effective immediately.

Steve Vanry

Mr. Vanry has 22-years professional experience in senior management positions with public and private companies, providing expertise in capital markets, strategic planning, corporate finance, merger and acquisition structuring, regulatory compliance, accounting and financial reporting. He is well regarded for his leadership, creativity and ability to foster collaborative environments for team driven projects. His breadth of experience spans various industries, including; mining, oil and gas, renewable energy, high-technology and manufacturing. Mr. Vanry regularly consults for other listed companies in the role of director and/or senior executive. He is a member of the CFA Institute and Vancouver Society of Financial Analysts.

Mr. Vanry assumes the CFO role from Shabir Dhanani, who has been with the Company since 2007.

Dave Guebert

Mr. Guebert is an experienced financial professional and business manager with over 35-years of experience in finance and accounting, 25 of which were served as chief financial officer of public and private companies in the resource, finance and technology sectors. He is currently the Chief Financial Officer of Marret Resource Corp., an investment entity, and also serves as a member of the board of directors (and chairman of the audit committee) of Merus Labs International Inc., a public specialty pharmaceutical company. During his career, he has been employed in management and financial capacities in merchant energy, investment and technology industries.  In addition to these roles, Mr. Guebert spent two and a half years serving as Controller for the XV Olympic Winter Games. Mr. Guebert has a Bachelor of Commerce degree (University of Saskatchewan) along with both CPA-CA (Alberta) and CPA (Pennsylvania) designations. 

Incentive Stock Options

Pursuant to its Stock Option Plan, the Company has granted incentive stock options to a director to purchase up to an aggregate 175,000 common shares in the capital of the Company.

The options are exercisable at a price of $0.25 per share, and will vest over a 3-year period. The options expire on February 9, 2021.

About Legend Power Systems Inc.

Legend Power Systems Inc., "Legend" (www.legendpower.com) markets a proprietary device, the 'Harmonizer' that helps individual buildings reduce energy consumption through the utility-proven concept of Conservation Voltage Reduction, (CVR). Legend provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts. As an application with demand side benefits, Legend is also a key contributor toward utility conservation goals. Legend was recognized as the top performing cleantech company on the TSX Venture Exchange in 2015.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This Press Release may contain statements which constitute 'forward-looking, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law.

SOURCE Legend Power Systems Inc.

Image with caption: "Legend Power Systems Inc. (CNW Group/Legend Power Systems Inc.)". Image available at: http://photos.newswire.ca/images/download/20160211_C6692_PHOTO_EN_618514.jpg

For further information: Randy Buchamer - Chief Executive Officer and President, + 1 778 945 1501, rbuchamer@legendpower.com; Steve Vanry, CFA - Chief Financial Officer, + 1 604 671 9522, svanry@legendpower.com

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www.legendpower.com

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