Vancouver, B.C., Canada – November 18, 2020 – Legend Power® Systems (TSX-V: LPS) a global leader in commercial electrical system solutions, today announced that the Region of Peel in Ontario, Canada will invest in SmartGATE Platforms for four of its low income multi-residential buildings. After completing an initial pilot with Legend, the Region of Peel is now implementing SmartGATE as a standardized solution that can be deployed across their building portfolio to make achieving their sustainability targets easy. Over the anticipated lifespan of the solution these four sites are expected to save:
- 352 tons of carbon emissions
- $900,00 of energy costs
- 8,100,000 kwh
Peel is known as a leader amongst their municipal peers, several of which in Ontario are investigating opportunities to deploy SmartGATE solutions within their portfolios.
Q4 F2020 Revenue Guidance
Based on preliminary results, the Company anticipates revenue for the three months ended September 30, 2020 to be between $350,000 and $400,000 compared with $485,543 in the same period of fiscal 2019. During Q4 of F2020, the Company’s major markets began to reopen, and Q4 revenue guidance supports this assessment. Since quarter end this momentum has continued across all geographies and end markets.
SmartGATE is an industry-leading, turnkey solution, which identifies and fixes underperformance and waste in the electrical system of a commercial building. These performance issues often impact key areas of commercial real estate metrics including occupant safety and satisfaction and financial performance. This waste can also lead to higher operating costs, lower net operating income and other potential financial risks to the building owner, including damaged tenant experience.
About Legend Power® Systems Inc.
Legend Power® Systems Inc. (www.legendpower.com) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend’s proven solutions support proactive executive decision-making in a complex and volatile business and energy environment.
For further information, please contact:
Steve Vanry, CFO
+ 1 604 671 9522
Sean Peasgood, Investor Relations
+ 1 647 503 1054
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 to 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.