VANCOUVER, April 21, 2014 /CNW/ - Legend Power Systems Inc. (TSX-V: LPS) is pleased to announce it has completed its second of the two warrant incentive exercise programs which were launched in March 2014 to encourage the early exercise of outstanding warrants. A total of 2,201,000 warrants eligible under the second program were exercised for a total of $330,150, raising a total under both programs of $1,543,352.
The common shares issuable on the exercise of 172,333 additional "incentive" warrants issued to an officer and director of the Company and a company controlled by him are subject to four month restricted resale periods expiring July 21, 2014 (100,000 shares) and August 5, 2014 (72,333 shares). Any common shares issued on the exercise of the other additional "incentive" warrants will not be subject to any resale restrictions.
The proceeds from the early exercise of these warrants will be used for general working capital purposes.
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:
C.E.O. and President
Legend Power Systems Inc.
+ 1 778 945 1501