Legend Power Announces Issuance of Equity Incentives

Rhea-AI Summary

Legend Power Systems announced the approval of 5,200,000 incentive stock options to acquire common shares, subject to TSX Venture Exchange acceptance. Of these options, 3,150,000 were granted to executive officers and the remainder to employees. The options are non-transferable, exercisable until November 5, 2029, at $0.22 per option, with vesting provisions.

Positive

• None.

Negative

• Potential shareholder dilution through issuance of 5.2M stock options
• 60.6% of options granted to executives rather than broader employee base

Vancouver, British Columbia--(Newsfile Corp. - November 5, 2024) - Legend Power Systems Inc. (TSXV: LPS) (OTCQB: LPSIF) ("Legend Power" or the "Company") a global leader in commercial electrical system solutions, has approved, subject to acceptance by the TSX Venture Exchange, the grant of 5,200,000 incentive stock options (the "Options") to acquire common shares in the capital of Legend Power (each a "Common Share"). 3,150,000 of the Options were granted to executive officers and the remainder to employees of the Company. The Options are non-transferable and exercisable until November 5, 2029, at $0.22 per Option, subject to vesting provisions.

About Legend Power Systems Inc.

Legend Power Systems Inc. (https://legendpower.com/) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend Power's proven solutions support proactive executive decision-making in a complex and volatile business and energy environment. The proprietary and patented system reduces total energy consumption and power costs, while also maximizing the life of electrical equipment. Legend Power's unique solution is also a key contributor to both corporate sustainability efforts and the meeting of utility energy efficiency targets.

For further information, please contact:

Jonathan Lansky, Director
+1 416 417 7664
lansky.j@icloud.com

Sean Peasgood, Investor Relations
+ 1 647 503 1054
sean@sophiccapital.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This Press Release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR+ at www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results to not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228990

FAQ

How many stock options did Legend Power Systems (LPSIF) issue on November 5, 2024?

Legend Power Systems issued 5,200,000 incentive stock options, with 3,150,000 granted to executive officers and the remainder to employees.

What is the exercise price for Legend Power Systems' (LPSIF) November 2024 stock options?

The stock options have an exercise price of $0.22 per option.

When do Legend Power Systems' (LPSIF) November 2024 stock options expire?

The stock options are exercisable until November 5, 2029, a five-year term from the grant date.