Legend Power Extends Capital Markets Advisory Contract and Grants Incentive Stock Options

Rhea-AI Summary

Legend Power Systems (TSXV:LPS)(OTCQB:LPSIF) has granted stock options to acquire 300,000 common shares to a director and an officer, exercisable for five years at $0.75 per share. The options will vest over a period of time. Additionally, the company renewed its contract with Sophic Capital for investor relations services, agreeing to pay $7,000 per month plus stock options of 300,000 shares. These options also have a vesting schedule. Legend Power specializes in optimizing commercial electrical systems through its SmartGATE solution, which enhances financial performance and tenant satisfaction.

Positive

• Granting of stock options may incentivize key personnel and align interests with shareholders.
• Renewed agreement with Sophic Capital enhances investor relations support.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / July 2, 2021 / Legend Power Systems® (TSXV:LPS)(OTCQB:LPSIF), a global leader in commercial electrical system solutions, today announced that it has granted stock options to acquire up to a total of 300,000 common shares to a director and an officer. The stock options are exercisable for a five-year term, expiring on July 2, 2026 at a price of $0.75 per common share. The options are subject to vesting provisions, with one-sixth vesting six months from the date of grant, and one-sixth vesting and becoming exercisable every six months thereafter. The stock options are non-transferable.

The Company also announces that it has renewed its agreement with Sophic Capital Inc. ("Sophic") to act as its Investor Relations firm. Sophic will be paid $7,000 per month for a term of 12 months and has been granted 300,000 stock options at a price of $0.75 per share. The stock options are subject to vesting provisions, with 25% vesting three months from the date of grant and 25% vesting every three months thereafter. The options are exercisable until 5:00 PM (ET) on the earlier of (i) ninety days after termination of the agreement or (ii) June 30, 2024, being the date that is three years from the date the agreement was signed by the Company. Sophic currently holds 749,500 Common Shares and 500,000 stock options in the capital of the Company.

About SmartGATE™
SmartGATE™ is an industry-leading, turnkey solution which identifies and fixes underperformance and waste in the electrical system of a commercial building. These performance issues often impact key areas of commercial real estate metrics including occupant safety and satisfaction as well as financial performance. This waste can also lead to higher operating costs, lower net operating income and other potential financial risks to the building owner, including adverse tenant experiences.

About Legend Power® Systems Inc.
Legend Power® Systems Inc. (www.legendpower.com) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend's proven solutions support proactive executive decision-making in a complex and volatile business and energy environment.

For further information, please contact:

Steve Vanry, CFO
+ 1 604 671 9522
svanry@legendpower.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.sedar.com. 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.

SOURCE: Legend Power Systems Inc.

View source version on accesswire.com:
https://www.accesswire.com/653804/Legend-Power-Extends-Capital-Markets-Advisory-Contract-and-Grants-Incentive-Stock-Options

FAQ

What recent stock options were granted by Legend Power Systems (LPSIF)?

Legend Power Systems granted stock options to acquire 300,000 common shares, exercisable at $0.75 each for five years.

What is the vesting period for the stock options granted by Legend Power Systems?

The stock options will vest over a period of time: one-sixth after six months and the remainder every six months.

How much is Sophic Capital being paid by Legend Power Systems for investor relations?

Legend Power Systems is paying Sophic Capital $7,000 per month for investor relations services.

What is SmartGATE by Legend Power Systems?

SmartGATE is a solution that identifies and resolves energy inefficiencies in commercial buildings, enhancing performance and reducing costs.