VANCOUVER, Oct. 21, 2013 /CNW/ - Legend Power Systems Inc. (TSX-V: LPS)
is pleased to announce it has completed its private placement announced
September 30, 2013 and October 16, 2013 by the issuance of 8,185,165
units at $0.09 each for proceeds of $736,665. Each unit consisted of
one (post-consolidated) common share and one non-transferable warrant
to purchase a further share for $0.15 until October 18, 2016. The
Company paid finder's fees of 10% on some of the funds raised, which
fees were satisfied by the issuance of 718,405 units at a price of
$0.09 each. The shares issued and issuable on exercise of the warrants
are subject to restrictions on transfer until February 19, 2014.
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:
Randy Buchamer C.E.O. and President
Legend Power Systems Inc.
+ 1 778 945 1501