BURNABY, BC, March 11, 2013 /CNW/ - Legend Power Systems Inc. (TSX-V: LPS) is pleased to announce it has closed the second and final tranche of a private placement of 8,479,286 units at $0.07 each for $593,550 by issuing a total of 3,635,000 units at $0.07 each for proceeds of $254,450. Each unit consisted of one common share and one non-transferable warrant to purchase a further share for $0.10 for two years. The shares and any shares issued on exercise of the warrants will be subject to restrictions on transfer until June 28, 2013.
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:
C.E.O. and President
Legend Power Systems Inc.
+ 1 778 945 1501