VANCOUVER, March 27, 2013 /CNW/ - Legend Power Systems Inc. (TSX-V: LPS), (the "Company"), is pleased to announce that it has reached an agreement with a creditor, subject to TSX Venture Exchange approval, to issue 334,050 common shares at a price of $0.10 per share in satisfaction of indebtedness totaling $33,405. This will allow the Company to utilize the funds for working capital instead. The shares will be subject to restrictions on resale of four months from the date of issuance under applicable securities legislation.
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 Harmonizer-AVR 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:
Randy Buchamer C.E.O. and President
Legend Power Systems Inc.
+ 1 778 945 1501