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BURNABY, BC, Oct. 26 /CNW/ - Legend Power Systems Inc. (TSX.V: LPS) ("Legend Power") announces that it has granted incentive stock options (the "Stock Options") to certain directors, officers and employees of the Company to purchase up to 1,250,000 common shares in the capital of Legend Power pursuant to Legend Power's stock option plan (the "Plan"). The Stock Options are subject to certain vesting provisions and, in particular, 800,000 Stock Options vest immediately and 450,000 Stock Options vest over a five-year period. Subject to the vesting provisions and the terms of the Plan, the Stock Options are exercisable on or before October 25, 2014 at an exercise price of $0.49 per share.
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 delivering higher levels to compensate for line loss across the feeder length. 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 electrical utilities.
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SOURCE Legend Power Systems Inc.
For further information: For further information: Gerry Gill, Chairman & CEO, Legend Power Systems Inc., (604) 420-1500, firstname.lastname@example.org; LEGEND POWER SYSTEMS INC., 8618 Commerce Court, Burnaby, BC, V5A 4N6, (604) 420-1500, www.legendpower.com