Burnaby, British Columbia – February 11, 2011 – Legend Power Systems Inc. (TSX.V: LPS) (“Legend Power”) announces that it has granted incentive stock options (the “Stock Options”) to certain directors, officers and employees of the Company to purchase up to 2,200,000 common shares in the capital of Legend Power pursuant to Legend Power’s stock option plan (the “Plan”). The Stock Options are subject to certain vesting provisions and, in particular, 1,000,000 Stock Options vest in a year’s time and 1,200,000 Stock Options vest over a three-year period commencing the first anniversary. Subject to the vesting provisions and the terms of the Plan, the Stock Options are exercisable on or before February 10, 2014 at an exercise price of $0.21 per share.
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