TORONTO, Dec. 17, 2015 /CNW/ - Legend Power Systems
Inc. (TSX-V: LPS) (the "Company") continues to see growth and
success from new sales and follow on orders. To support the strong
sales growth and accelerate the entrance into the USA marketplace, the Company would greatly
benefit from an increase in its working capital. Accordingly, the
Company intends to carry out a private placement financing to raise
up to $1,650,000 by the issuance of
up to 8,250,000 units at $0.20 each.
Each unit will consist of one common share and one non-transferable
warrant, each whole warrant entitling the purchase of a common
share for two years at $0.40. The
Company has entered into a finder's agreement with Primary Capital
of Toronto, Ontario whereby
Primary will be paid a 7% fee, payable in cash or units, at
Primary's election, for any subscriptions it introduces to the
Company.
The private placement is subject to receipt of TSX Venture
Exchange approval.
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.