Legend Power(R) Announces Issuance of Equity Incentives

Rhea-AI Summary

Legend Power Systems Inc. (TSXV:LPS)(OTCQB:LPSIF) announced the approval for 1,100,000 incentive stock options for directors and an executive officer, pending TSX Venture Exchange acceptance. The options, priced at $0.32, vest over three years, with one-sixth vesting every six months. Legend Power specializes in intelligent energy management solutions aimed at reducing energy costs and enhancing sustainability in corporate settings. These options align with the company's commitment to improve corporate performance by optimizing energy usage.

Positive

• Approval of 1,100,000 incentive stock options enhances executive alignment with shareholder interests.
• Options priced at $0.32 provide potential for valuable future returns if share price increases.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 8, 2022 / 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 1,100,000 incentive stock options (the "Options") to acquire common shares in the capital of Legend Power (each a "Common Share"), to independent directors and an executive officer of the Company. The Options are exercisable until March 8, 2027, at $0.32 per Option, subject to vesting provisions, with one-sixth vesting six months from the date of grant and one-sixth vesting ever six months thereafter. The 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.

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https://www.accesswire.com/692185/Legend-PowerR-Announces-Issuance-of-Equity-Incentives

FAQ

What is the significance of the stock options granted by Legend Power Systems Inc. on March 8, 2022?

The grant of 1,100,000 stock options aims to align the interests of executives with shareholders, enhancing potential future performance.

What is the exercise price for the stock options issued by Legend Power?

The exercise price for the stock options is set at $0.32 per option.

When do the stock options for Legend Power Systems Inc. start vesting?

The options will start vesting six months from the grant date, with a schedule of one-sixth vesting every six months thereafter.

How long are the stock options valid for Legend Power Systems Inc.?

The options are exercisable until March 8, 2027.

What does Legend Power Systems Inc. focus on in its business?

Legend Power focuses on providing intelligent energy management solutions to reduce energy consumption and costs, contributing to corporate sustainability.