Vancouver, Canada, October 15, 2019 – Legend Power® Systems Inc. (TSXV: LPS) (“Legend Power” or the “Company”), a global leader in onsite power management technology, is pleased to announce that Mr.Jonathan Lansky has been appointed to the Board of Directors of the Company.
Mr. Lansky is an independent investor who completed his undergrad in business at Wilfrid Laurier University in Waterloo in 1993, Chartered Accountant designation in 1994 and Chartered Financial Analyst designation in 2000. Over Mr. Lansky’s career he has worked in investment banking and equity sales for First Marathon, CIBC and most recently, Dundee Securities in Internal Investments. Mr. Lansky’s appointment is subject to approval by the TSX Venture Exchange (the “Exchange“).
Chairman of the Board, Mr. Cosimo La Porta, commented “I’m very happy to welcome Mr. Lansky to the Board. He is a significant shareholder and his background and experience will be a great asset for Legend Power.”
The Board of Directors of the Company is now comprised of Messrs. Cosimo La Porta, Randy Buchamer, Michael Atkinson, Dave Guebert and Jonathan Lansky.
The Company also announces that it has granted stock options to acquire up to 735,000 common shares to certain directors of the Company. Each of the stock options is exercisable for a five-year term expiring on October 15, 2024 at a price of $0.30 per common share. On October 11, 2019, the last day that the Company’s common shares traded prior to the granting of the stock options, the closing trading price of the common shares on the Exchange was $0.18. The options are subject to vesting provisions, with one-sixth vesting six months from the date of grant, and one-sixth vesting and becoming exercisable every six months thereafter. The stock options are non-transferable.
About Legend Power® Systems Inc.
For further information, please contact:
Steve Vanry, CFO
Sean Peasgood, Investor Relations
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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