Legend Power(R) Announces Appointment of New Chief Financial Officer and Corporate Secretary

Rhea-AI Summary

Legend Power Systems has announced the appointment of Florence Tan as the new Chief Financial Officer and Corporate Secretary effective January 11, 2022. Tan brings over 15 years of experience in accounting and financial management. The company expresses gratitude to departing CFO, Steve Vanry, acknowledging his six years of service. In connection with her appointment, Tan was granted 50,000 stock options at $0.30 per share, vesting over five years. This leadership change is expected to support Legend Power’s growth during an anticipated significant growth period.

Positive

• Appointment of Florence Tan brings over 15 years of relevant experience, potentially strengthening financial management.
• The leadership change coincides with expected significant growth for the company.

Negative

• Departure of Steve Vanry may raise concerns about continuity in financial leadership.

VANCOUVER, BC / ACCESSWIRE / January 11, 2022 / Legend Power® Systems Inc. (TSXV:LPS)(OTCQB:LPSIF) ("Legend Power" or the "Company") a global leader in commercial electrical system solutions, is pleased to announce the appointment of Florence Tan, CPA, CA, as Chief Financial Officer and Corporate Secretary effective January 11, 2022.

Ms. Tan is a Canadian chartered accountant with over 15 years of progressive senior level experience with publicly listed and private companies in areas of accounting, regulatory and securities compliance, financial reporting and treasury management functions. Ms. Tan is a CPA, CA and holds a Bachelor of Commerce degree from the University of British Columbia, and is a volunteer with Futurpreneur Canada.

Randy Buchamer, CEO and President said, "I am very pleased to welcome Florence to the Company. Florence brings great energy and a breadth of experience which will be important attributes during what we expect to be a significant growth period for the Company. The Company also extends its appreciation to Steve Vanry for his dedication and contribution as the Chief Financial Officer, Chief Operating Officer and Corporate Secretary over the last six years. We wish Steve continued success in his future endeavors."

The Company also announces, in connection with Ms. Tan's appointed, that it has granted her 50,000 stock options at a price of $0.30 per common share, exercisable for a five-year term expiring on January 11, 2027. The options are subject to vesting provisions, with one-sixth vesting six months from the date of grant, and one-sixth vesting every six months thereafter. The stock options are non-transferable.

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 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:

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/681939/Legend-PowerRAnnounces-Appointment-of-New-Chief-Financial-Officer-and-Corporate-Secretary

FAQ

Who is the new CFO of Legend Power (LPSIF)?

Florence Tan has been appointed as the new CFO and Corporate Secretary of Legend Power effective January 11, 2022.

Why was Steve Vanry replaced as CFO of Legend Power?

Steve Vanry served for six years before his departure, and the company expressed appreciation for his contributions.

What are the stock options granted to Florence Tan?

Florence Tan was granted 50,000 stock options at a price of $0.30 per share, with a five-year term expiring on January 11, 2027.

What expertise does Florence Tan bring to Legend Power (LPSIF)?

Florence Tan has over 15 years of experience in accounting, regulatory compliance, financial reporting, and treasury management.