Burnaby, British Columbia – June 8, 2009 – Legend Power Systems Inc. (TSX.V: LPS) (“Legend Power”) announces that it has completed its previously announced non-brokered private placement of 125,000 common shares in the capital of Legend Power (the “Shares”) at $0.55 per Share for gross proceeds of $68,750.00 (the “Private Placement”). The securities issued pursuant to the Private Placement are subject to a hold period until October 6, 2009. The proceeds of the Private Placement will be used to fund Legend Power’s operations, sales and technical capabilities in British Columbia and Ontario.
About Legend Power Systems Inc.
Legend Power Systems Inc. is a leading electrical energy conservation company that manufactures and markets a patented device to help commercial and industrial customers achieve significant energy savings through voltage optimization. Legend Power’s Electrical Harmonizer-AVR eliminates inefficiencies by delivering the optimal level of voltage a user needs. Most customers receive higher voltage levels than required at certain points of the grid from electrical utilities delivering higher levels to compensate for line loss across the feeder length. Higher than nominal voltage can affect the lifespan of electrical equipment and result in high monthly utility bills. By delivering the optimal voltage to the user, Legend Power’s Electrical Harmonizer-AVR helps companies reduce their electricity bills, maintenance costs and greenhouse gas emissions while increasing the life of electrical equipment. The technology also decreases capital and operating costs for electrical utilities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
|For further information, please contact:
Gerry Gill, Chairman & CEO
Legend Power Systems Inc.
+ 1 604 420 1500
|LEGEND POWER SYSTEMS INC.
8618 Commerce Court
Burnaby, BC V5A 4N6
+1 604 420 1500