Burnaby, British Columbia – Legend Power Systems Inc. (TSX.V: LPS) (“Legend Power” or “the Company”) announced that on August 11, 2008 it granted stock options under its 10 per cent rolling Stock Option Plan to directors and employees to purchase in the aggregate up to 400,000 common shares (the “Stock Options”) in the capital of the Company at $1.50 per share until August 11, 2013, subject to approval from the TSX Venture Exchange. The Stock Options were granted based on the recommendation of Management, and 25,000 common shares granted to a long-term employee vests immediately. The balance of the common shares vest starting at 20 per cent on the date the options are granted and an additional 20 per cent on each anniversary thereafter, subject to the terms and conditions of the Company’s Stock Option Plan.
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-Automatic Voltage Regulator (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. 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.
Forward Looking Information
This release and referenced materials contain forward looking statements, within the meaning of the “safe-harbour” provisions of the Private Securities Act of 1995, which are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause actual results to differ materially include: rapid technological and/or market changes in the industry including actual electrical billing rates; the adequate protection of the Company’s proprietary rights; and other factors described in the Company’s regulatory filings. Although we believe the expectations reflected in our forward looking statements are reasonable, individual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
For further information, please contact:
Corporate Development Manager
Legend Power Systems Inc.
Living Communications Inc.
604 657 8234
LEGEND POWER SYSTEMS INC.
8618 Commerce Court
Burnaby, BC V5A 4N6
604 420 1500