VANCOUVER, BC--(Marketwired - October 11, 2016) - Legend Power Systems Inc. ("Legend") (TSX VENTURE: LPS) announced today that it has appointed Sophic Capital Inc. as its Investor Relations firm. Sophic Capital is a capital markets advisory firm that will focus on increasing investor awareness of Legend by developing a comprehensive communications strategy and introducing Legend to investment advisors, investment dealers, institutions and other financial professionals.
"We are excited to be working with Sophic Capital to help communicate our market opportunity and growth strategy to institutional and retail investors," said Randy Buchamer, CEO of Legend. "We are seeing significant interest in our technology with a growing sales funnel and record year-to-date sales as customers look to reduce their electricity costs and improve operational efficiencies. Given Legend's current momentum we believe now is the time to more effectively communicate our growth strategy to a broader spectrum of the investment community."
"We are delighted that Legend has selected Sophic Capital to execute its capital markets and investor relations strategies," said Sean Peasgood, CEO of Sophic Capital. "Following a significant due diligence process we believe that Legend is at an inflection point in its business. The Company has now installed over 130 units with proven results across 13 market verticals and is addressing a $38 billion market in North America. Legend fits our criteria for disruptive technology companies that we look to work with and we look forward to communicating this to the investment community."
Legend's engagement with Sophic Capital is for a term of 12 months, on a fee for services basis of $7,000 per month. In addition, Sophic Capital has been granted options to purchase up to 250,000 shares of Legend at a price of $0.30 per share. The options will vest quarterly in four tranches of 62,500 each and expire on the earlier of (i) 90 days after termination of the engagement and (ii) October 10, 2019. The options are governed by the provisions of the Company's stock option plan and the policies of the TSX Venture Exchange. Sophic Capital currently holds 126,500 common shares in the capital of the Company.
About Legend Power Systems Inc.
Legend Power Systems Inc. (www.legendpower.com) markets a proprietary device, the 'Harmonizer' that helps individual buildings reduce energy consumption through the utility-proven concept of Conservation Voltage Reduction, (CVR). Legend provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts. As an application with demand side benefits, Legend is also a key contributor toward utility conservation goals. Legend was recognized as the top performing cleantech company on the TSX Venture Exchange in 2015.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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 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.