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BURNABY, BC, Oct. 6 /CNW/ - Legend Power Systems Inc. (TSX.V: LPS)
("Legend Power" or "the Company") is pleased to announce that it has retained
Pro-Edge Consultants Inc. to further build its investor relations program.
Pro-Edge is an international investor relations services solution provider
based in Toronto, Ontario, representing public companies since 2001. Pro-Edge
will perform a variety of investor relations duties, including introduction of
Legend Power's programs and projects to the investment community, and
increasing Legend Power's exposure to retail brokers, institutional investors
and fund managers.
Pro-Edge will receive a fee of $5,000 per month for a period of twelve
months and a grant of 100,000 common share options under the Company's 10 per
cent rolling Stock Option Plan at $1.25 per share. The options will mature in
two years and vest in equal quarterly tranches over a twelve month period.
The existing consulting agreement with Living Communications Inc., an
investor relations firm based in Vancouver, B.C., announced on July 7, 2008,
will be reduced to a monthly retainer fee of $2,000 per month and a grant of
25,000 common share options under the Company's 10 per cent rolling Stock
Option Plan at $1.25 per share. The options will mature in two years and vest
in equal quarterly tranches over a twelve month period.
The agreements with the stock option grants are subject to the approval
of the TSX Venture Exchange.
Gerry Gill, Chairman and CEO of Legend Power Systems Inc. commented, "I
am very pleased to welcome Pro-Edge in joining the Legend Power team. Legend
Power is embarking on a new growth phase in British Columbia and Ontario that
will require an increased profile in the investment and business community. We
believe engaging Pro-Edge and continuing the relationship with Living
Communications will provide us the national exposure required to successfully
achieve our expansion goals."
About Legend Power Systems Inc.
Legend Power Systems Inc. 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 Harmonizer-AVR eliminates
inefficiencies by delivering the optimal level of voltage a user needs. Most
customers receive higher voltage levels than required at certain points of the
grid from electrical utilities. Higher than nominal voltage can affect the
lifespan of electrical equipment and result in high monthly utility bills. By
delivering the optimal voltage to the user, Legend Power's Electrical
Harmonizer-AVR helps companies reduce their electricity bills, maintenance
costs and greenhouse gas emissions while increasing the life of electrical
equipment. The technology also decreases capital and operating costs for
Forward Looking Information
This release and referenced materials contain forward looking statements,
within the meaning of the "safe-harbour" provisions of the Private Securities
Act of 1995, which are subject to a number of known and unknown risks,
uncertainties and other factors that may cause actual results to differ
materially from those anticipated in our forward looking statements. Factors
that could cause actual results to differ materially include: rapid
technological and/or market changes in the industry including actual
electrical billing rates; the adequate protection of the Company's proprietary
rights; and other factors described in the Company's regulatory filings.
Although we believe the expectations reflected in our forward looking
statements are reasonable, individual results may vary, and we cannot
guarantee future results, levels of activity, performance or achievements.
For further information:
For further information: Ginny Morgan, Corporate Development Manager,
Legend Power Systems Inc., firstname.lastname@example.org, Investor Relations:
British Columbia: Martin Livingston, Living Communications Inc., (604)
689-5559; Ontario: Fred Cowan or Tracy Weslosky, Pro-Edge Consultants Inc.,
(866) 544-9622 or email@example.com