LEGEND POWER SYS INC - LPSIF STOCK NEWS

Legend Power Systems (OTCQB:LPSIF) announced significant partnerships with seven U.S.-based Energy Service Companies (ESCOs), collectively generating nearly US$1 billion in annual revenue. Recent projects demonstrate a 5%+ savings in New York schools using its SmartGATE Platform. The U.S. ESCO market is projected to hit US$9 billion in 2021. Legend aims to expand its ESCO relationships, enhancing its market presence with minimal infrastructure costs. Additionally, the company is the Platinum Sponsor of the upcoming NAESCO conference in Austin, Texas.

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.

Legend Power Systems (TSXV:LPS)(OTCQB:LPSIF) announced the follow-on sale of two SmartGATE platforms to an Ontario School Board, following a 100% conversion of SmartGATE Insights assessments into sales. The Insights Power Impact Report highlighted significant grid inefficiencies that SmartGATE solutions can address. The School Board expressed satisfaction with previous purchases, indicating a commitment to energy savings and cost reduction. Legend's new go-to-market strategy is gaining traction, showcasing enhanced visibility of energy waste and financial improvement potential for customers.

Legend Power Systems (TSXV:LPS)(OTCQB:LPSIF) has secured a follow-on sale of eight SmartGATE Platforms to a major international property owner, bringing the total installed units to ten. This significant order follows the successful evaluation of eight properties utilizing SmartGATE Insights, demonstrating a 100% conversion rate from assessment to purchase. The company aims to support global electrification and decarbonization efforts, with plans for additional assessments across the US and Canada.

Legend Power Systems Inc. (TSXV:LPS)(OTCQB:LPSIF) announced that its warrants from a bought deal offering will start trading on the TSX Venture Exchange on June 22, 2021, under symbol LPS.WT.A. Each warrant allows the purchase of one common share at $0.95 until June 15, 2023. The units were sold under a short form prospectus across Canadian provinces, except Quebec, and in the U.S. via private placement. The release includes a forward-looking statements disclaimer, noting risks and uncertainties that could affect future performance.

Legend Power Systems announces the completion of its bought deal offering, raising $10,275,000 by issuing 13,700,000 Units. The offering, led by Stifel GMP, included an over-allotment option. Each Unit consists of one common share and one-half share purchase warrant, exercisable at $0.95 for 24 months. The offering was conducted under a short form prospectus in Canada, with restrictions on sales in the U.S. This funding supports the Company's energy management solutions for improved corporate performance.

Legend Power Systems reported a significant increase in sales bookings of 705% year-over-year, reaching $1.92 million in Q2 2021. Despite this, revenue fell 29% to $482,144 compared to Q2 2020, with a net loss of $982,829, down 35% year-over-year. The company attributes the revenue decline to installation delays and COVID-related constraints. However, operating expenses decreased significantly by 39%, leading to improved adjusted EBITDA losses of $708,025, down 52% from last year. Cash on hand stood at $1.71 million, indicating solid liquidity.

Legend Power Systems (OTCQB:LPSIF) has announced the release date for its Q2 2021 financial results, set for May 31, 2021. The results will cover the six months ending March 31, 2021. The Company will host a conference call the same day at 5:00 PM ET to discuss the financial results and provide a business update. This event will be led by CEO Randy Buchamer and CFO Steve Vanry. Legend Power specializes in commercial energy management solutions, aiming to enhance asset management and corporate performance.

Legend Power Systems (TSXV:LPS, OTCQB:LPSIF) has partnered with an ESCO to deliver SmartGATE Insights for U.S. Department of Defence facilities, targeting around 1200 buildings in the eastern region. The project aims to improve energy efficiency and reduce greenhouse gas emissions, aligning with federal energy management goals. In FY 2006, the DoD consumed nearly 30,000 gigawatt hours of electricity, costing approximately $2.2 billion. The initiative leverages SmartGATE's capabilities to enhance electrical reliability and environmental performance, significantly impacting energy management.